The purpose of a well-crafted digital marketing plan is to provide guidance on how, why, and to whom you’ll deploy your marketing message. This marketing plan can be as complex or simplified as you like but to ensure its effectiveness you’ll need to include these 8 important components.
- The Mission and Vision Statement of Your Business
- Market Research
- Target Market
- Competitive Analysis
- Digital Marketing Strategy
1. The Mission and Vision Statement of Your Business
The mission statement defines the long-term goals of your business and is a reminder as to why it exists. The vision statement describes what the future of your business will look like once the mission is achieved.
2. Market Research
Comprehensive market research is essential and forms the backbone of any marketing plan.
3. Target Market
Your business needs a well-defined target market description that clearly identifies your most likely buyers. Further segmentation of your target market also forms an important part of your digital marketing plan.
Positioning refers to the perception of your brand in the marketplace. The difference in how the target market sees your business in relation to other businesses in your industry is your positioning. Compelling branding and marketing messages must be developed that clearly communicates how you want your business to be perceived.
5. Competitive Analysis
You need to do competitive analysis to establish who your competitors are, and how your products and services differ. Knowing your competitors will help you better position your business so that can stand out from the competition.
6. Digital Marketing Strategy
Your digital marketing strategy is your path to achieving sales goals. The core of what the strategy should explain is how you will find and attract your most likely buyers. It should look at the entire marketplace and break down specific tactics such as email, social media, content marketing, webinars, and other marketing activities that will help you gain access to customers.
You should specify a budget for your marketing strategy, which is essentially a month-by-month schedule of what you plan to spend on marketing. For each marketing point you should establish a metric that tells you stop if it’s not generating sufficient return in investment (ROI).
Use metrics to track your marketing success. Google Analytics can be implemented to track website conversions for example. Test marketing campaigns over the course of a 30- to 60-day period and evaluate the results. Campaigns that are effective can be repeated and those that are not can be removed from your marketing strategy.
You can now build further on these core components of your digital marketing plan. Including these fundamental parts in your marketing plan will ensure that you are building on a secure foundation. If you are a local business and need help with your digital marketing plan you can approach an affordable digital marketing agency such as ShopBiz DMS to assist you.