Why a business should invest in digital strategy?

Okay, so you have understood the value of digital marketing. You have tried doing stuff yourself but failed. You hired an Agency but still failed. The scenarios of failures could be just endless. So what went wrong? Anything from the strategy to execution could have gone wrong. But from my experience, I have seen mostly wrong strategy invites failures. So let’s understand why having a great strategy could save your millions.

Why?

A strategy would become your exercise tool for your digital marketing efforts. You can consider it as a manual or a handbook and can refer to it to avoid possible errors, avoid wasting time on the wrong channels, the wrong audience or avoid sending out wrong communication messages. On the other hand, the correct strategy would help you maximize your profits, reduce click waste (I would do a video soon on the wasted clicks, till then you can just google about it or consider it that your money just got wasted if the wrong people clicked on your ads), building a loyal audience and get fantastic results for your overall digital marketing efforts.

What?

So now, let’s talk about the strategy! What do I mean or what do we mean when we say digital strategy?

Planning is more of a guessing game when the future is undoubtedly unknown. Long-term plans don’t work for anybody, whereas you can have a great strategy that will shape your plans accordingly every month or every quarter.

Instead of putting up a formal definition to a strategy, let me put all the elements of a typical strategy:

1. Identifying your digital marketing objectives
2. Identifying the business category
3. Market Analysis
4. Target audience and their behaviour online
5. Mapping the target audience with the correct marketing channel
6. Building your content strategy
7. Setting up or identifying or building a team to execute the game

So, once you have identified and finalised all of the above important elements or steps, you have a digital strategy with you, that you can refer and go to for all your digital marketing needs. It will actually become a handbook or a manual for your overall digital marketing.

Now, let’s come back to the “why” of our subject, why are these elements or steps so important in actually executing your digital marketing practices.

Here are 7 reasons of how a digital marketing strategy would help you?

1. You are now clear with what are you going to do, and you know how to quantify your results. You know your KPIs and you can set your benchmarks and plans accordingly.
2. You know your business better, you know your competition, you are more confident with your communication.
3. You are not hitting into the dark, you know who are you talking to. You save money and time, right?
4. You are not wasting time on wrong channels, your content is getting a lot of traction because you have tapped into the right set of channels.
5. You understand your audience better and you have identified their pain points, you hit directly to the right problem and providing them with the most feasible solution. You win again.
6. Your content is more appealing and meaningfully connecting with your audience, you know better the kind of content that is going to give you results.
7. Well, you know who you need to hire, be it an agency or an internal team to bring great results to your business.

So stop wasting your money just like that, let’s do your homework first. Every business is important and needs a correct strategy to go to the market and grow. If you don’t have a strategy in place, you might be loosing on a lot of bucks.

I am gonna write another post with a guideline on how do you go on creating a digital marketing strategy for your business. Who can help you, how much you should invest and how effectively you can bring in results from your digital marketing efforts.