THOUGHTS

Developing a Successful Marketing Strategy in a Digital World

Aug 30, 2016

As the marketing environment becomes increasingly complex, and consumers demand more from companies, marketing professionals must develop new marketing strategies.

Many years ago, developing effective marketing strategies was a much simpler task than it is today. With only a small number of television channels, radio stations, newspapers, and relevant magazines pertaining to a given market, advertisers could develop fairly targeted marketing strategies to generate sales. In the emerging digital environment, marketing strategies have become a far more complex task. There are now vast arrays of different marketing channels, tools, and tactics that must be unique in strategy while seamless and integrated in application. Companies also need to connect and engage with customers, and create memorable, lasting experiences. To develop a successful marketing campaign in today’s digital environment, companies must focus on three strategic components. Marketers must establish clear, strategic, and targeted objectives and ensure that they are tactical in the rollout and implementation of new campaigns. Companies should also focus on the development of a separate team to identify and analyze emerging marketing opportunities. Companies that are able to clearly identify the strengths and weaknesses of each digital medium will likely be more successful in their campaigns.

Clarify Strategic Objectives to Direct Focus

Although it is important to keep pace with as many new marketing channels as possible, it is important to ensure that campaigns achieve worthwhile goals.  Creating simple, targeted, channel-specific marketing strategies are key to a successful marketing campaign. Companies should focus their marketing strategies around driving sales, increasing awareness, and improving customer advocacy. While companies will likely need to work on all three of these areas, they should focus on one at a time, to ensure their message is received and to avoid confusion. Ensuring that targeted marketing strategies are identified in the early stages of a campaign is a crucial step in cutting through the clutter in the digital world.

Identify and Analyze New Marketing Opportunities

In order to ensure the most effective implementation of these marketing strategies, it is crucial to identify the most effective channels through which campaigns can be disseminated. In order to keep up with all of the new and emerging channels, it may be helpful for companies to create a team dedicated to identifying any new opportunities that may arise for marketers. This team could also be responsible for collaborating with product representatives and running test campaigns across various channels. If a campaign is successful at the pilot stage, it can then be scaled up and more widely distributed. This separate team will ensure that the most effective channels are used, and that new opportunities for creative marketing are not missed. In our digital world, new opportunities for creative campaigns emerge rapidly, and having a dedicated team to identify and analyze their potential can be highly beneficial.

Implement and Evaluate Campaigns

Once a team has been assembled and strategic goals have been outlined, the next step is implementation. It is vital that marketers understand the intricacies of different advertising channels, and are aware of the benefits and weaknesses of each channel and tool. Each channel has a very specific purpose and marketers should not take a one-size-fits-all model when implementing campaigns. Developing precise approaches for specific tasks, tools, and channels is essential, and marketers should work to identify trends and avoid fads.

Another major part of implementation involves evaluation. Evaluating the efficacy and impact of marketing plans is crucial in the new digital environment. Today’s consumers demand to be engaged with advertisements, and want to make personal connections with products and companies.  By evaluating campaigns, companies can identify flaws and make adjustments to better engage customers.

Evaluation also ensures that competitors do not capture valuable customer data. As customers engage with advertisements, valuable data can be gleaned from their activities. Companies that fail to capitalize on this data are not only missing out on opportunities for greater customer insight, but are also allowing competitors to collect and leverage this data against them.

Ensuring Success in the Future

In an increasingly complex digital environment, it is vital that marketers understand the keys to a successful digital marketing strategy. Customers are demanding more from companies, and it is important that campaigns engage and connect with customers. In order to ensure optimal efficacy and impact of campaigns, companies should develop a dedicated team for identifying emerging opportunities. Developing and implementing strategic goals and objectives will also benefit companies in the digital environment. In an increasingly complex marketing world, marketers must understand the intricacies, strengths, and weaknesses of each emerging marketing channel. Companies that can develop successful digital marketing campaigns that have lasting impact will be in a better position for success in the new digital world.

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