When you own a business, you use multiple channels to nurture it and one of the most common is digital marketing. Unfortunately, most of the business owners often drain a lot of money without realizing which is the right channel for their business.
While many businesses find marketing digitally appealing, after its enormous demand during the recent global pandemic, it has become a necessity. Even small businesses selling products on social media have started to spend additional resources to tap into a wider audience to share product links, images, and videos more effectively. It won’t be wrong to say that these days entrepreneurs, small business owners, and enterprise owners are all-embracing digital transformation.
But, what is all the fuss about Digital Marketing?
Promoting your products or services using internet (or online) based devices such as laptops, computers, mobile phones, etc is known as digital marketing. You can think of it as distributing your pamphlets online.
Why is digital marketing important for your business?
Let me explain it with an example. Take any member of your family and think about how much time they spend on their mobile phones, laptops, or computers. Almost every member of your family has a social media account or searches for different products or services on Google, Facebook, Bing. Take this a step further, think of your neighborhood, office, or school. Your neighbors, friends, family, colleagues are using digital media in one way or another. Now, assume that while they were looking for something, they saw your ad. This is the power of digital marketing. It enables you to show your products or services to the right people and at the right time.
Now that you know what is digital marketing and why it is important, let me tell you how you can do it in right way.
6 steps to create a powerful marketing strategy
- Know your audience
- Know your competition
- Choose your battlefield- digital media platform
- Create a strategy
- Know your metrics
- Test and Repeat
Let me explain these in detail:
Know your audience: Knowing your target customers is crucial before you launch any digital marketing campaign. Take your time and think about all potential prospects that might be interested in your products or services. You can take a pen and paper and write down the characteristics of your customer like age, gender, income, or any other thing that crosses your mind.
Know your competition: After successfully profiling your potential audience, you need to know who you are competing with and how they are performing. For starters, you can look for the following things:
- What keywords are they targeting?
- Which platform are they using?
- What makes your products or services different from them?
Choose your battlefield- digital media platform: There are multiple digital platforms that you can use to promote your products or services, Google, Facebook, WhatsApp, Linkedin, Bing, etc. You can choose them all but I would highly recommend using one at a time. Not all platforms may work for you as different platforms have different costs. Choose your battlefield wisely.
Create a strategy: Now it’s time to create a strategy depending upon your goal and digital media platform. For example, if your goal is brand awareness, then you need to focus on getting clicks and impressions. So, design your marketing strategy focusing on reaching more and more audiences. And if your goal is to get more leads, then you can try adding call-to-action in your ad copies.
Know your metrics: Now you know your audience, competition, the digital media platform, and strategy, now it’s time to measure the performance. Depending upon your marketing goal, monitor the corresponding metrics. For example, in the case of brand awareness, the metrics to monitor would be clicks, impressions, and CTR (click-through rate) and in the case of leads, the metrics to monitor would be conversions, phone calls, transactions, etc.
Test and repeat: Now the last and most important step is to test different strategies and repeat the above steps. Have patience, you may not get the results right away. Do A/B testing with your ad copies and keywords.