Online Marketing Strategy for E-Commerce - The 5 Steps to a Comprehensive Digital Marketing Strategy
Episode 24 of #DigitalBrunch: The 5 Steps of Your Digital Marketing Strategy - watch and follow Digital Brunch with Raluca Georgescu, CEO MTH Digital
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The 5 Steps of Your Digital Marketing Strategy are discussed during today's Digital Brunch by Raluca Georgescu, CEO MTH Digital:
1. Know Your Buyer Personas
2. Your Competitors & Their Brand Territories
3. Your SWOT and Your Key Message
4. The Marketing Channels & Contexts For You
5. KPIs for Each Stage of the Marketing Funnel
When it comes to digital marketing strategy, there are always 5 steps that you should take into account and never forget to go through all 5 of them. First of all you should know your audience very well, then you should know your competitors, you should know yourself, you should know where to communicate and then you should measure what you communicate. First of all, it should be really really clear to you who you communicate with and it shouldn't be just like OK I am selling to women who are 25 to 40 years old from the capital city and who have medium to high income because this applies to very very many segments of buyer personas. What you should know is exactly how each segment of buyer persona looks like and how do they know you, do they know you already, have they bought from you and so on. How does a buyer persona look like? It should take into account both the demographic data and the sociographic data but also it should say what are the most important values for your buyer persona. Are they motivated by the price of the product or are they motivated by the quality? Are they looking for the best price and quality ration? Are they actually motivated by status? Are they highly visual? What exactly motivates them, what makes them get up in the morning, what is their main challenge when they try to buy products that are similar to yours, when they buying from your product category. You should know these buyer persona profiles as if if were your best friend. And you should take into account that it's never one segment, you usually target more buyer persona profiles. And for each of them you should act differently but having the same brand line. Secondly, you should know your competitors and when you think of competitors you shouldn't only think of direct competitors but of those competitors that your buyer persona associates you with. You should take into account where your buyer persona buys products that are similar to yours or brands that are similar to yours. Those are your competitors. It may even be that you're an online shop and your actual competition is actually an offline shop that your buyer persona buys from. Third, you should know yourself very well. That SWOT analysis is actually good so that you actually realize what your strengths and weaknesses are and what brand territory each competitor of yours occupies and what brand territory would be the best for you. From that brand territory which you want to occupy in your buyer persona's mind you should find out what your key message is and you should keep that key message in all your communication. Then, you should realize what the best marketing channels are for you and those shouldn't be like.. how most people do, like we have to be on Facebook, we have to be on Instagram, we have to be on Youtube because it's trendy and so on. What you should take into account is where exactly your buyer persona is and where are they more likely to be influenced in order to buy your product. And last but not least, it should be very clear to you what you measure and you shouldn't measure only sales. You should take into account the marketing funnel and where each of your buyer persona is in your marketing funnel and you should take into account the KPIs that matter most for that stage of the marketing funnel.
Digital Brunch with Raluca Georgescu is the digital marketing & e-commerce series powered by MTH Digital.
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