FIVE STEPS TO DIGITAL MARKETING STRATEGIC PLAN
Define your position: Determine the position of your business by conducting internal and external audits. These audits will provide a clear picture of the marketplace, the competition in the market, and the capabilities of your Company.
Identify important things: Focus on the position where you want to take your company. Prioritize the issues, as resolving all the significant issues will play a vital role in the overall well-being of the company.
Define objectives: You need to define all the objectives that you want to achieve by using this strategic planning.
Resource allocation: Effectively allocate all the resources available to you. Resources will help you to gain the objective. The action plans, strategies, and budgets should all be accounted for. Resources and labor allocation should be done such that you are able to achieve the main objective.
Review: This step is necessary, as it ensures the performance of the plan. It also tells how much you have achieved from planning. It helps to keep the business on track.
STRATEGY PLANNING BEST PRACTICES
Diversity planning: In order to build a fool-proof strategic plan, gather a team of experts from all the core departments They will not only provide their valuable ideas related to their department, but it will also lead to the creation of a plan that will take everything into consideration.
Support: Take support from everyone who can provide a solution or support greater digital marketing planning. You alone will not be able to do it.
Budget utilization: At the initial stage, you will find it easy to do everything, as there will be a surplus in terms of budget. However, budget utilization should depend on a priority basis. Plan every step and allocate a fixed budget for that step. Keep some amount as a backup. This will help you to use it at a time when you need to extend your allocation for any step. Take help from a third party that can improve the results.
Strategic philosophy: Take time to create a strategic plan. A plan made in a hurry may leave out some crucial aspects and will affect the results. Taking the time will help you and your team create a clear big picture of the plan including all the crucial steps. Conversation Before planning, take the time to gather everyone’s view. Allow each member to unfold his or her ideas. This will make them realize that their opinion matters as much as yours. Encouragement is the key to success for proper strategic planning.
Plan Accuracy: Accumulate all the necessary details before implementing the plan. The plan needs to have a clear list of goals, responsibility, actions required, deadlines, and liability. Each member needs to have an idea about his or her role in the plan in order to implement it flawlessly.
Plan flexibility: A great strategic plan needs to be flexible enough to handle the market changes. Change the plan as per the requirements of the market. Make it fluid, not stiff.
Review: This may be the last step required in planning, but do not take this step for granted, Review your plan again and again. It will help you to find the loopholes in the plan. The plan should be reviewed on a weekly basis. If that is not possible to do, you can review ton a monthly or a quarterly basis.
THE NEED FOR SWOT ANALYSIS IN STRATEGIC MARKETING
A SWOT analysis consists of both external and internal factors. Here, the external analysis commonly comes before the internal analysis. This is because the threats and the opportunities are frequently appraised first.
Strengths: Strength comprises of all the capabilities which allow your company to accomplish the objectives and it should be used maximally.
Weakness: Weakness comprises of all the components that keep your business from should be addressed immediately.
Opportunities: opportunities consist of factors like forces, trends, ideas, and events–which will help your business in achieving success.
Threats: Threats consist of the factors that are beyond the control of your business, your business should always decide on how to work with them.
STRATEGIC PLANNING BENEFITS
Decision: Strategic planning helps in making the decision easier. Here, you will be proactive rather than reactive. You will be able to make a decision instantly, as the situation arises because you would have already calculated during strategic planning.
Wise decision: It allows you to make wise decisions for previously calculated hurdles. Digital Marketing strategic planning allows you to have a clear image of what you need to accomplish. It will provide you with an objective to proceed accordingly.
Profit and market share: Increases the chance of profits and securing a market share. You will be able to calculate the opportunities and the ways to increase growth.
MARKETING STRATEGY CASE STUDY: MENTAL HEALTH SUPPORT
Organization: Mental Health Support is located in Guelph, Ontario. It is a center for family therapy and counseling that specializes in addiction, panic attacks, and anxiety
Situation: Tim Tentcher, the owner of the center, was facing difficulties reaching his ideal target demographic; therefore, he contacted Digital Shift. Tim tried social media marketing on its own, as well as a Google AdWords campaign, but it was not successful. The workload and stress led Tim to look for help.
Approach: So, when Tim contacted Digital Shift, a simple plan was implemented. The research on his market and location turned out to be a stronger opportunity for his company in Guelph, Ontario. Digital Shift with a little revision, helped Tim’s business to rank higher in search results pages. With this, his organization became more visible and gave him a competitive advantage. Tim was also able to target the right kind of customers with the help of Digital Shift, which was initially going in the wrong direction. Finally, Mental Health Support was able to increase its revenue by attracting 20% of Tim’s customers. Digital Shift also worked with Mental Health Support to attract the right kind of customers A video marketing campaign was further created in order to help Mental Health Support to attract customers in a cost-effective and engaging manner. He also offered some deals to attract his customers. Digital Shift also helped Tim to optimize his Facebook page, giving it a professional look and a real feel.
Results: After collaborating with Digital Shift, Mental Health Support witnessed an increase in business queries. After the optimization of its Facebook page and web content, lead generation also improved. Consistent advertisement, branding, and re-designing of landing page helped his visitors became more engaged; his conversion rate has also gone up. Digital Shift solved the location and visibility issues, after which there was an increase in brand awareness, customer conversions, and traffic generation.
- 95% of a typical workforce doesn’t understand its organization’s strategy.
- 90% of organizations fail to execute their strategies successfully.
- 86% of executive teams spend less than one hour per month discussing strategy.
- 60% of organizations don’t link strategy to budgeting.