With the ever-expanding marketplace, organizations nowadays are facing challenges on dual fronts— acquiring new customers while also retaining old customers. The modern customer is constantly being influenced as they are faced with a plethora of choices in the marketplace. Traditional marketers are looking for new and innovative ways to approach customers. Digital marketing has helped with that, enabling traditional marketers to reach customers via a completely different and subtle channel. But do the principles of decades-old marketing still hold true? Has the paradigm of marketing completely changed after the evolution of a new era of digital marketing? Let’s see if we can fit digital marketing into the same framework of traditional marketing and harness its potential in achieving the organization’s goals.
Digital marketing, like any other marketing initiative in an organization, needs to start and end with the same thought process. It should draw its roots from business goals and keep checking the alignment during the process, while ensuring it adds value throughout the process.
One of the most important goals of any marketing initiative is to make your customer fall in love with your product. Once that’s accomplished, they can speak highly of it, helping others get on board—therefore expanding your customer base. Using digital media, you can reach even more customers by running digital advertisements across various platforms. It can help you reach a wider audience while spending less, which ultimately results in better ROI. A small increase in marketing spend can result in a large increase in revenue if done properly. But, the point to note here is done properly. The objective of a digital marketing initiative has to be crystal clear before you even embark on this journey. It should be outcome-driven, not output-driven. A clearly established business goal inspires marketers to not solely focus on the various strategies they will adopt, but to also analyze how they perform at the end of the process. It helps in setting up measurable and achievable, yet ambitious goals.
Alignment of Digital Marketing Plans with Your Business Goals
To keep marketing goals and business goals in tandem, you should be aware of what outcome you want from your digital marketing plans. A good digital marketing strategy will support your aspirations to achieve the desired outcome. These are the measurable objectives that can be achieved from a digital marketing plan:
- Lead conversion
- Reaching the customer seamlessly on various platforms
- Customer engagement
- Targeted customers
- Brand recognition
Seamlessly using the digital platform, such as LinkedIn and Facebook, and analyzing which digital medium is most used by your customer can help you better target them. It is important to set the metrics well before you start. Measure what matters throughout the process to ensure you are in alignment with the vision and business goals upon which you started.
It is essential to stay focused on what value you will provide by giving a digital platform to your business and your customers. Why should a customer stick with you during this journey? Why should the organization invest in this? Asking yourself such questions will result in innovative ways to reach and engage your customers. Through strong customer engagement, you can understand their needs even more. By interacting with the customer in real time, you gain insights about them. That information can then effectively give the customer what they want at the right time, in the right place, and with the right message.
Digital marketing allows you to interact with your customers at every stage of the buyer’s journey or funnel. Before buying your product, a person goes through different stages—from awareness to consideration, and finally, the decision stage. A well–thought-out strategy will strengthen your odds of being their choice during this final decision stage.
Digital Marketing Framework
The below framework divides the digital marketing activity into four steps: evaluation, strategy, implementation, and measurement. Each step involves a unique set of activities and will produce a different set of outcomes, which feeds into the next stage. It is an iterative cycle that allows marketers to constantly learn from the market and apply those learnings to their marketing strategy.
A planned approach to digital marketing allows marketers to reach their customers through different channels, thus increasing brand recognition and conversion rates. It enables new retargeting opportunities once marketers start understanding their customers more. Overall, it is a win-win situation for both marketers and customers as they leverage the capabilities of modern marketing channels and strategies.