Planning a Digital marketing strategy in 2023-24 should no longer be a cumbersome process. There are plenty of research tools, strategy areas, and ad platforms that can be put to efficient use for desired goals. All it requires is mindful planning and working from marketing fundamentals.
The business world is becoming more competitive with every passing day! Digital media, evolving AI tools, and precise data analysis can enable you to plan your marketing strategies ahead of time.
This blog is all about it, and you’ll learn how to simplify planning your marketing strategies in 2023 – 24.
Brainstorm Opportunities with SWOT Analysis
SWOT analysis is a standard analysis of things that tells you about your Strengths, Weakness, Opportunities, and Threats.
This analysis will help you know the core strengths of your business, will help you identify your weakness, and highlight the opportunities that you can take on for your benefit. Last but not least, it will help you identify threats to your business.
SWOT Analysis has helped countless businesses in shaping their marketing strategies in the right direction. Upon completing the analysis you will be in a better position to identify opportunities which can help you level up your marketing efforts while staying cautious about the threats.
‘Knowing what to do is more important than knowing how to do it.”
Set defined goals and break them into milestones
In these modern times, no one can go haywire about their marketing strategies. It will lead to nowhere. You need to be precise in defining your goals; attach a timeline with your goals. Here is an example of how you can do it –
Description – In the next year, we will build content pillars that answer the queries of our customers.
Goal – To rank our 10 blog pages for the target keywords.
Metrics to measure – 30,000 organic page views per month/5 Content Downloads (PDFs per month).
Unlike previous times, modern-day digital marketing gives you opportunities to measure your progress. When you assign numbers to your goals, it becomes easy to track and improvise. A lot of global organizations in the world plan their Digital Marketing strategies using this methodology and you can do the same too.
Successful businesses build long-term strategies and break them into milestones. It helps them to take smaller efficient steps that compounds to successful results in the long run. This is a tried and tested strategy that reaps exceptional results. Build your marketing strategy for a long run and set milestones for them. Identify KPIs and work on them consistently.
Prioritize strategies that align well with your goals
You may be doing multiple things at the same time for your business growth. It may be experimenting with Google Ads, LinkedIn Ads, Quora Marketing, FB Ads, Social Media, or any other thing of your choice. However, every one of them may not equally or perform well and give you your desired results. And that’s alright. Some things will tend to perform better than others. You need to optimize the better-performing assets and improvise the low-performing assets.
Categorize your goals into small clusters and choose the most relevant marketing activity accordingly. It is always better to use a funnel where all your marketing efforts are integrated by a common goal. Here is a quick illustration of how you can plan it –
- Google Ads – For users who are searching for you.
- Facebook Ads – For people to whom you want to reach out. For remarketing and users who are somewhat interested in your product/service industry.
- SEO – A long-term strategy to rank high on Google Search Engine
- Social Media – For awareness, engagement, and announcement
- Email Marketing – To nurture and build trust with the audience.
- Content Marketing – To overall increase the brand visibility and voice.
Your brand should be visible at all platforms to your target audience. Create content about your brand, products/services, and USPs and share it across different channels. That’s when your target audience will start to recognize and remember your brand name. Once your target audience is able to remember who you are, what you do, and how you can be relevant to them; they will start exploring more about your brand. That’s where you must have something to offer them. It can be a discount deal, e-book, etc.
Since it would be hard to determine where your prospect would be looking for you, you need to stay active across all digital channels.
Prioritize high ROI activities –
Digital Marketing activities allow you to experiment and choose the ideal marketing medium for your brand. Marketers can determine areas that are giving high returns on investments. They can optimize them for better performance and results.
Short-Form Video Content Creation
Create engaging short-form videos for your social media audience. Stay updated with the latest trends and it will help you reach a larger audience.
Google & Meta Ads
Google and Meta Ads are an incredible way to build a brand presence. These may look expensive initially but in the long run, they are highly efficient and provide a good return on investment.
Influence Collaboration
You can leverage the high audience reach of influencers to your own benefit by collaborating with them. There are plenty of influencers and industry experts with a high social presence. Collaborate with them and position your product/service in their content.
Stay Relevant – What worked earlier may not work today
Post-pandemic, the world has changed a lot. More and more businesses are adopting Digital Marketing because of the benefits it comes with.
This has led to increased competition in the digital space and amendments to the way things used to work earlier. For instance, there were times when websites used to rank easily on the SERP with effective keyword placement in the content. However, just keyword placement in the content will not help you rank your website well today and in the times ahead.
Your content needs to understand the search intent of the user. Further, your webpage needs to have in detail content that resolves the customer query end to end. This is the modern approach in the SEO Industry.
Similarly, Instagram Reels and similar short-form content performs really well when compared with conventional static image post. This has led to more and more creators, and brands creating short-form video content.
We should understand that web is an open-source thing and we must adapt things that are shaping the digital marketing ecosystem. This is the only way to build a successful business using digital marketing mediums.
Type of content your audience wants to see
Relevant content creation & distribution is one of the best ways to promote your business in 2023 and years ahead. The better content you will create, the better it will reach more people. Thus, will increase your brand’s reach.
Videos
People love watching videos and there is a reason why – Videos are entertaining, interesting, and easy to understand & learn. That’s why YouTube has got an enormous number of users. The same goes for Instagram and Facebook. Video content dominates all types of content formats.
Video creation and distribution is a great way to increase brand presence, and build credibility and trust with your followers. Once the trust is built, people will look out for solutions from you/your brand.
Informative Articles
Articles that are beyond 2000 words are considered long-form content. These are generally in-depth, high-value informative content that covers a particular topic end to end. We also call it ‘pillar content’ as this single piece of content acts as a pillar and the user can gain a whole lot of information from this very post.
Every website should invest in quality long-form content because of the following reasons –
- Helps you improve your SEO rankings.
- Provides value to your user thus, helps in improving average user duration.
- Builds authority & credibility of your brand.
- Enables you to add multiple lead magnets and CTAs.
Tutorial Videos/Courses
Tutorial, and course videos are highly-valuable content which is often shared amongst colleagues, friends, and allies. Videos are easy to recall and remember. Videos that are highly relevant and engaging attract a significant number of shares & likes. Create video tutorials and courses about your products/services. Post them on video sharing and social media platforms. On social platforms like YouTube, the better videos you will make, the better reach, engagement, and ultimately better conversions you will get.
Research Papers/Templates in PDF format
Numbers & statistics make research interesting. Research papers/Statistics Infographics/Templates are highly preferred during a research or search query. Include Downloadable PDFs, and research papers in your content as CTAs.
Set KPIs and monitor the progress of your marketing strategy
KPIs are Key Performance Indicators. You can set different KPIs for different goals and work on them in a planned manner. It will help you in –
Monitoring your progress
Setting KPIs while working is an effective way to increase productivity and progress. It helps you to measure your achievements such as Customer acquisition cost, Number of website users, CTR etc.
Identifying opportunities & challenges
In business, if you are able to identify what’s working and what’s not, it will give you room to identify opportunities and optimize less-performing activities. Setting up KPIs and monitoring them can help you identify this in a great way.
Decision Making
As mentioned earlier, there will always be something that is working better than the other. KPIs can be used in effective decision-making and weeding out non-performing or low ROI activities. This would give you space to make better growth-oriented decisions.
Every business should identify measurable KPIs for their business. It will improve the overall picture of your business and will help you grow in an exponential way.
The following are some of the KPIs which you should consider for your business –
Customer Acquisition Costs
Customer acquisition cost is the total cost incurred in acquiring one customer. It can be one of the most crucial metrics which you should measure and control. The lesser your cost of acquisition, the better margins you will be able to make.
Organic Traffic
When you leverage Digital Marketing for your business, your website’s organic traffic can be an important KPI to measure. Organic traffic is the traffic of users who visit your website without any paid means.
Conversion Rate
Conversion Rate can be understood as users who converted out of all the interactions. For example, if 1000 users visited your website and 20 out of them purchased your product, the conversion rate will be 100/1000*100= 10%. The higher the conversion rate, the better it would be for your business.
Summary
When it comes to business, it is always better to not wait for the 11th hour and plan ahead of peak times. The earlier you start investing in marketing strategies, the better it will be for your business. As mentioned in this blog, you can create an in-depth marketing strategy using the industry’s best practices.
At Nueva Digital Solutions, we work from the fundamentals of marketing and hence, it always keeps us ahead of the competition. Invest wisely in choosing your business’ marketing partner.
