Tracking Active Budget Management
Are you making the most of the opportunity of online marketing? With so many potential buyers actively using search engines, websites, apps and social media to decide on the best product or service, you have to be visible and provide the best experience to help them choose your brand.
But online marketing is not easy, competition is tough, with many online marketing tools and techniques to choose from, so you need to make the smart online marketing choices.
To compete, we believe that a planned approach is essential, but our Managing Online Marketing research (free download) shows that many businesses don’t have an online strategy or roadmap.
Plan and Assess
First you have to define what you’re hoping to achieve for your brand, product, or service. To get started, you must take stock of all aspects of a brand, and break this information down by location, age, and value. Felicia Sullivan who heads up innovation at Attention USA says you should start by analyzing the following five factors:
- Presence: Measure of the brand’s social footprint
- Influence: Branded message adoption
- Perception: Emotional reaction to the brand
- Virality: People organically participating in conversations
- Resonance: Reaction to the overall conversation about the brand
Once you’ve assessed the brand’s current equity, you must segment your target customers. Customer segmentation allows marketers to connect social to all customer touch points and identify what motivates a brand’s core consumers in an omni-channel environment.
What can go wrong when you don't have a strategy?
Through working with many businesses we have seen so many wasted opportunities and problems when companies don’t have a strategy.
Here are ten reasons you need an online digital strategy. Creating an online marketing plan helps solve these problems:
- Lack of long-term strategic direction of how to use digital to support growth – so you need a more clearly defined digital marketing strategy,
- You won’t know your online market share and how to defend it.
- Existing and start-up competitors will gain market share.
- You don’t have a powerful online value proposition for your brand.
- You don’t know your online customers or insight well enough.
- You’re not integrated.
- Digital doesn’t have enough people/budget given its importance.
- You’re wasting money and time through duplication.
- You’re not agile enough to catch up or stay ahead.
- You’re not optimising so the opportunity of online leads and sales is missed.