Marketing strategy formulation is the process of defining an
organization's marketing goals and objectives and creates a guide how to
achieve goals and objectives. Today marketing platform is change. Digital
marketing will be come to the formulation marketing strategy process. Following
figurer shows Digital Media Planning Process for your brand or Business.
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| Digital Media Planning Process |
Objectives of the Brand or Organization
Use SMART
Objectives Approach to define your objectives. You can have more than 1
objectives example to increase 25% gross sales of Business. SMART objective is you
can achieve to your objective in future. SMART mean Specific, Measurable, Attainable/Actionable, Relevant, Time-specific
SWOT Analysis
SWOT
analysis is to take the information from the environmental analysis. It is
separate analyzed internal issues (strengths
and weaknesses) For example the main strengths of a business might be a Quality
product and Knowledge and loyalty employees and the main weaknesses might be
limited financial resources in organization. External issues (opportunities and threats) for example
the opportunity of a business might be have gaps unmet needs of customers and
threats might be competitor launch the new low price products in to markets.
Select Target Audience
Clearly
define the audience you are trying to reach through your digital strategy.
Example for “Sri Lankan, Female, above aged 16, with specific interest in beauty
and wellness”
Set Communication Objectives
What
behavioral change you expect from the Target Audience, as a result of them is
being exposing to your digital marketing campaign? It may be Raise awareness, convince
a product benefit and increase Buy. These communication objectives related to
the final main business objective.
Select the Right Platforms
Setting up
platforms on every network is don’t want be select. You understand where my
target audience in online. Select effective one more platform to doing marketing
communication. These platforms are Search, Social, Display Ads and E-mail
activities etc.
Select Digital Channels
After
select the platforms, we select the effective channels to achieve both
Organization Communication Objectives. If platform is social media, channels
may Facebook, tweeter. We can identify 03 types of media when we select the
digital channels. They are Paid Media,
Owned Media and Earned Media. We
advertising other webpages it mean paid
media examples for Display Banner Ads, Facebook ads and Pay per click. Owned Media companies are not need to
pay for advertising. They can freely advertise their ads in online by using
owned media. As for examples, Facebook Fan Pages, Twitter Accounts, YouTube
Channel and Mailing Lists are owned media.
Earned Media, companies can earn money from using earned media. For
examples, on Facebook around your brand, User generated content, Recommendations
sharing and viral marketing.
Implementation, Continuous, Monitoring, Reporting, and Optimizing
Finally we
implement and analysis our digital marketing campaign. Example for No of the
like we have on Facebook page, No of review Owen website and conversation about
over brand in online after we implement digital marketing campaign. If our
digital marketing campaign successfully achieve our objective/s, can continuous
our operation and if it is not we change our digital marketing campaign.
So, we
think you have learnt Formulating a Digital Strategy for Your Brand or
Business. We hope to deliver you more important points from our next Blog Post
as well.
See you from my next Blog Post soon…
