In the years gone by, there were some radio stations, few TV channels, handful of top magazines and a couple of newspapers that dominated the market. Life was simpler for marketers. It was easy to reach out to the potential target audience, craft compelling messages and move products. Now, with a whole range of TV channels, thousands of apps, millions of web sites and digital strategies with abbreviated APIs, DMPs and SDKs coming to the fore, marketing plans are looking towards technology and digital solutions for their success.
Why is a Digital Strategy Important?
In the present scenario, it is not just about communicating benefits or identifying needs. You have to essentially build immersive experiences to engage with consumers. This effectively means that you need to seamlessly integrate new digital capabilities to make your marketing campaigns yield richer returns. These principles will guide you ahead.
Clarify your Business Objectives
The primary goals of a marketing campaign can be appropriately captured through the evaluation of three metrics: sales, awareness, and advocacy (or customer referral). There is an urgent need for integrating emerging and “progressive” media into marketing programs. But then, a good marketing strategy is not reliant on just the number of gadgets and neologisms incorporated into the same but on the ways in which it effectively attains its business objectives. The correct definition of intent, and a deviation from the approach of “one size fits all”, serves as important criteria while formulating marketing objectives.
Decouple Innovation and Strategy
Fundamentally, strategy is different from innovation. While a good digital strategy achieves specific goals, innovation focuses on the creation of something that’s completely new (and fails to work as standard solutions). Instead of grouping strategy and innovation to minimize failure through conventional means, organizations should populate their marketing teams with people other than senior executives. They should allocate a majority of marketing investments to smarter digital tools like SEM, SEO, paid search marketing, social media advertising, display and email marketing, brand promotion, re-marketing, analytics, website design/ development, and so forth.
Create Open Assets
In this digital era, brands cease to be mere corporate assets that may be leveraged. Instead, they serve as communities of purpose and belief. With this in view, effective promotional campaigns are resulting in better internet searches wherein consumer behavioral patterns, rather than higher sales conversions, are being tracked and retargeted by competitors. Also, it is becoming important to encourage customer participation by creating open assets in the marketplace. This effectively means that digital marketers are thinking more in context of APIs and SDKs rather than USPs and GRPs.
Are you game? Make a strong digital strategy a part of your marketing plan.