The Need For A Marketing Plan?
Are you looking to build a successful business? Then you need to have a solid marketing plan in place. Developing a solid plan provides clarity for your business practices, allows you to articulate your marketing strategy and goals for the year, and specifies how those strategies will be carried out.
A survey found that nearly half of businesses don't have an adequate digital strategy. There are times when we create a perfect plan, but then the team in charge fails to carry it out, making the goal impossible to reach.
Without a digital marketing strategy in place, you’ll lack the clearly defined goals required to grow your business online. It’s important to outline your objectives, how you are going to go about achieving them, and how you will analyze and optimize your marketing in the future.
Why is Digital Marketing Important?
Marketing is essential for any good business.
It helps you connect with your target audience and is ultimately how you will grow your business in the long run. There are currently 3.78 billion social media users (48% of the population) and 54% of customers are using social media to research products and services—that includes your business. That's why it's crucial to have a strong presence on various social media platforms. The key is to discover what social media platforms your customers are using.
This is where marketing comes into play. Without it, your business will not flourish because it won’t be seen.
The Importance of a Marketing Strategy for Business
Many business owners haven’t discovered how important it is to have a proper marketing strategy.
An easily accessible marketing plan ensures that everyone has the same understanding of the long-term goals and what daily practices must be followed. By focusing resources, it means everyone is working towards a common objective rather than individual pursuits. Business practices can be streamlined and operated more efficiently when everyone is on the same page. It also means you won't lose knowledge or focus when people come and go from your business.
The Benefits of Having a Marketing Strategy for Business
1. Give your digital marketing direction
Once you decide to create a strategy, you can outline clear strategic goals you want to achieve.
It is important to keep these in mind whenever you or your team is marketing online. Whatever your goals are—gaining customers, building relationships, and so on—they must be identified and part of any digital marketing activities.
You can also find out about your weaknesses. Can you reach your goals with the resources you have? How will you measure the success of your digital marketing efforts? In what ways will this affect your plans?
2. Know who your target audience is
In the world of digital marketing, identifying your target audience can be difficult for business owners. Knowing how to target and market to your target audience is crucial.
Do you know where to find your key target audience, and how to appeal to them? What kind of collateral is appealing to them? Would they prefer written content? How about visuals? Is video popular among them?
Fortunately, digital marketing is very, very measurable, which is why many business owners find it effective and useful for deciding who to market to.
However, Google Analytics is not always enough to analyze your audience. To better serve other customers in the future, you could aim to get feedback from your key target audience. This could be a survey, a quiz, or another type of exercise. You can use this to optimize your future campaigns.
3. Tie digital marketing into your business
Your digital marketing activities can be integrated with other areas of your business with the help of a clear strategy.
It is not uncommon for digital marketing to become isolated from the rest of your business, while one or a few employees may spend all of their days using a PC. Sometimes they do it infrequently, not realizing how vital it is to a brand's perception online. Maybe your team doesn't know what you or your digital marketing team are doing online?
This should not be the case, as it should be integrated into wider business goals. This is easier if you have a plan in place. You can ensure that campaigns align with other media, marketing campaigns, or response channels you may be using.
4. Set the right budget for digital marketing
When you are doing well, it is easy to dismiss digital marketing as unimportant or not necessary. The majority of business owners are fine with doing “fine”. There is always room for improvement. Allocating a realistic budget to digital marketing is the first step.
Consider how often a website is the first impression a customer has of a brand. Have you ever heard of a business, brand, or product, Googled it, landed on a website, and judged it there and then? The same is true for your brand with potential customers.
What about your marketing activities that encourage people to visit your website? Even then, if the brand impression is poor, they won't even make it onto your website.
You should outline in your strategy any areas where you lack resources to achieve your goals, as well as any skills you lack internally. This could be a good time to outsource.
5. Improve ROI and don’t waste your money
To avoid wasting resources, you need to get ROI from your marketing campaigns.
Ensure your budgets are allocated to the appropriate marketing areas, whether they are channels or campaigns, based on your goals.
Digital marketing is best conducted in an integrated way that increases ROI. The purpose of a strategy is to ensure everything is in sync, and that your campaigns are on the same page. Less wasted time and money.
Marketing strategies are especially important when multiple people are involved. Different individuals may have different ideas about the end goal, the messaging, or any other variations that can arise. A digital marketing plan will outline opportunities and problems, and how to address them. Individuals may behave differently.
If you need help formulating a digital marketing strategy that takes your brand to the next level, get in touch with the team at Beardo Marketing, and get an eight-page marketing plan for FREE. Let us show you what a full-service marketing agency is supposed to look like.