Formats for Digital Marketing Strategies
- 2022 September 23T15:46
- Digital Marketing Strategy
Having a framework for your digital marketing strategy is like having a compass to help you find your way to your destination. Without one, it can be difficult and uncertain to carry out marketing projects and campaigns successfully. It's impossible to generalize about a company's marketing initiatives because they're all unique. A digital marketing strategy framework provides organization to the digital marketing process, which involves numerous stakeholders and partners. Instead of starting from scratch with every new marketing project, marketers can save time by modeling their frameworks from existing frameworks.
To begin, let's define a digital marketing strategy framework.
A digital marketing strategy framework is a blueprint for your marketing operations, outlining the steps in your marketing workflow and the most important parts of your customer's digital journey. When marketing efforts are carried out within the context of a digital marketing strategy framework, the whole picture is in view, and nothing gets overlooked.
Digital marketing strategy frameworks abound, with each one catering to a unique marketing method. Although many frameworks share commonalities, some can also be used independently. Before settling on a digital marketing strategy framework, businesses should determine their specific objectives and priorities.
In what ways can a digital marketing strategy framework help your business?
Building an efficient marketing strategy is easier with a framework in place, and this is especially true for digital marketing. Almost 40% of businesses believe their digital advertising strategy is ineffective. The main reasons why digital marketing campaigns fail are poor planning and/or employing the incorrect digital marketing model.
Marketers benefit from digital marketing strategy frameworks because they:
- Develop effective digital marketing strategies by pinpointing must-dos at key junctures in the customer journey
- Identify barriers to sales by examining customer behavior across the entire customer lifecycle and the results of previous marketing campaigns
- Recognize avenues for influencing customers to take the desired action
- Avoid holes in handoffs by fostering cooperation between groups
- Create every point of contact goes off without a hitch and provides a pleasant experience for the customer.
Marketing models for the digital age
To help you make the most of your digital marketing efforts, we've outlined a few of the most popular frameworks for doing so.
One well-known framework for digital marketing is the RACE plan. Reach, Act, Convert, and Engage (RACE) is a sales methodology with these four pillars at its center. Take a look at the RACE planning process's four steps:
- Reach: The main purposes of the 'Reach' process are to increase brand recognition and exposure. Earned media, social media engagement, and website traffic are all part of this process.
- Act: Act refers to the process of encouraging site visitors, customers, or followers to take some sort of desired action on a digital property. At this point, you should be paying close attention to your bounce rate, average time on page, and subscriber count.
- Convert: 'Convert' centers on the process of transforming enthusiastic supporters into paying customers. Key performance indicators include the percentage of visitors who become customers, the number of leads generated, the volume of sales, and the percentage increase in revenue.
- Engage: Engage refers to the method of fostering genuine connections with clients in order to boost retention rates. The rate at which customers leave and return are two important indicators of success.
This is a popular framework for developing successful online marketing strategies. It shows the path that potential customers take from learning about a company's offerings to making a purchase. There are four levels to the marketing process, or "funnel"
- Awareness: This occurs when a consumer learns about a company either directly, through means such as targeted online ads, or indirectly, through means such as search engine optimization.
- Interest: The customer's curiosity has been piqued to the point where they've explored the company's owned media channels to learn more about the product.
- Consideration: At this stage, a customer is thinking about a product as a possible answer to a problem.
- Action: Customer has made the choice to buy something from the company.
The customer-focused flywheel model is the basis of a successful digital marketing strategy. Each part of the flywheel model works together to improve the customer experience by doing away with obstacles, or "frictions," that may be holding back the buying process, such as a lack of cohesion in the brand's message.
With the help of the flywheel model, the customer's experience is segmented into three stages:
- Attract: Using digital marketing strategies, both organic and inorganic, to gain the attention of potential buyers.
- Engage: Places stress on building a following and raising brand awareness.
- Delight: Dedicated to helping fulfill the expectations of current and potential clients.
Customers who have a good time with a product or service are more likely to recommend it to their friends and family.
Forrester’s 5 Is
A person's level of commitment, engagement, intimacy, and sway over a brand over time are all factors considered by Forrester's 5 Is model. The marketing pyramid is criticized as being obsolete by the model. If you want to make effective digital marketing campaigns, you need to keep customers involved all the way through the product's lifespan.
A list of Forrester's "5 Is"
- Involvement: Customer engagement is the process of encouraging active participation in the promotion of a product or service. Engagement can be measured by looking at metrics like page views, traffic, and average time on page.
- Interaction: During this phase, the customer interacts with your business in various ways, such as making a purchase, joining your newsletter, and posting reviews or photos online.
- Intimacy: The level of familiarity your customers feel with your brand or product through intimacy reveals the motivations and feelings behind their choices. The feelings expressed in a product review, a social media mention, or a customer testimonial are all good examples.
- Influence: Customers and other external stakeholders' propensity to advocate for your products among their networks is the focus of the Influence phase. Share rate, referrals, and online mentions are all good indicators of this.
- Individual: The emphasis on The Individual is on the person rather than on the community. In contrast to the more general "Individual," the details of "Individual" are more fine-grained and specific.
The Consumer Buying Process, According to McKinsey
The criteria that customers use to make a purchase are varied. People usually begin their online shopping experiences by looking for reviews and recommendations on social media. The following are the various stages that make up the decision-making process for a consumer:
- Trigger: This is the point at which customers recognize they have a need for a product or service. As a result of this catalyst, the consumer decision-making process officially begins.
- First things first: People think about the brands they know and trust when making a purchase decision.
- Evaluation: In order to determine which brand best meets their requirements, consumers research and gather data from a variety of resources, including review websites.
- Buying: After narrowing down his or her options using the data gathered in the Evaluation phase, the consumer finally settles on a single brand and makes a purchase.
- Ongoing exposure: Customers' post-purchase expectations impact their purchasing behavior.
- Loyalty loop: Customers who find that your product is helpful in meeting their needs may become devoted patrons and even promoters of your brand.
Foreseeing variables while maintaining a consistent method is made easier with the aid of digital marketing strategy frameworks as the landscape of digital marketing evolves. Strategy frameworks can help even the most seasoned digital marketer make better decisions and produce better results.
With a digital marketing project management tool like Wrike, teams can set up, manage, and collaborate on marketing projects in one central location, which is a key component of many digital marketing strategy frameworks.