Creating a digital marketing plan for your business can be a great way to drive growth. The process is flexible and scalable, and allows you to adjust your strategy as needed. You can move your budget from underperforming campaigns to well-performing ones, and you can test different marketing channels to discover which ones work best.
The first step in creating a digital marketing plan is to define your target audience. You can do this by asking your current customers about their hobbies, interests, and priorities. This information can help you create content that is relevant to your target audience and inform future partnerships.
Next, you should consider your customer’s buying cycle. Asking customers about the price points of your products is a good idea, as is asking them about their customer service experience. By collecting this information, you can better understand the buyer’s journey and improve your marketing campaign.
You can also create buyer personas to help you craft your marketing strategy. These personas can vary depending on your business, and the type of product you are selling. If you’re selling B2B software, ask your customers about their competitive price points and how they would prefer to receive customer support.
You can also ask your customers about their hobbies and interests to get a better idea of what they’re looking for in a product. This information can also help you develop a more targeted content marketing strategy.
You can also make use of marketing analytics to determine which channels are most effective, and which times are best for your campaigns. This information can also help you evaluate which channels to cut and which to keep. You can also use your analytics to find out which devices are best for your campaigns. This information will help you identify the best times to launch campaigns, and it will allow you to relaunch campaigns as needed.
Another step in creating a digital marketing plan is determining your budget. The most ideal LTV:CAC ratio is three to one, which means you should be spending three times as much on your customer acquisition costs as you are on your customer’s value. When your ratio is closer to one, you are spending too much on your customer acquisition efforts. If your ratio is higher than three, you are wasting your budget and losing out on business.
You may also want to consider incorporating some paid advertising into your digital marketing plan. This allows you to get your brand in front of customers immediately, and it can lead to instant revenue. But, you should be sure that the advertising is optimized for mobile. In fact, nine out of ten Google users search for products and services on their phones. If you don’t have a mobile-friendly website, you should consider a mobile-friendly redesign.
You can also include owned media in your digital marketing plan. Owned media refers to digital assets your business owns. This could include an e-book, a blog, or any other form of digital content. If you have a successful owned media campaign, you may not need to invest in paid advertising.
