Hardly anyone can grow a business without a proper online marketing strategy in dynamic conditions of the market. Learn how to build the proper marketing strategy plan to provide successful market entry, fast sales growth and increase brand awareness.
Before we plunge into marketing plans, let’s start with the online marketing strategy definition first. Marketing strategy is a range of project activities aimed at developing the business and making it competitive.
Here are some more terms that are often used by marketers today.
Building an online marketing strategy starts with setting targets, including short-term and long-term objectives. After you prioritize goals, it will be easier to decide what to tackle first. Here is a list of some more typical marketing objectives:
All the objectives should be smart, meaning they should match your niche, business goals and opportunities. Set realistic, specific and time-bound goals. Each should be measurable. Objectively assess progress so far and identify any implementation gaps.
Each marketing strategy template should be relevant to your target audience. First, identify your core offering—the main reason why customers use your product. For example, you own a price comparison website and most visitors use it to find the cheapest hostels around Europe. So, your core offering is the ability to help people save money on accommodation.
Next, try to reveal what kind of user could benefit the most from your offer. In the case of a price comparison website, it can be useful for tourists on a budget—most likely students or people early in their careers. Their biggest issue might be to avoid overpaying for the hotel stay and save money for cultural activities.
Finally, focus on features that make your offer unique. For instance, your price comparison website might have the widest range of filters that help people select the most suitable place to stay. To understand your target audience better, take advantage of the User Persona approach.
Researching competitors is very important to creating an online marketing strategy for small businesses. Once you see what features make them strong and which, on the flip side, repel customers, it will be much easier to grow your business. Besides, deep analysis helps avoid the resource-intensive A/B testing. Here are points to analyze:
To be fast and productive, analyze competitors with one of the following tools:
|SEO||Social media marketing||Email marketing, advertising and more|
Now, we’ll show you how to analyze a competitor’s blog in practice. Let’s take, for example, the travel blog Adventurous Kate.
The blog author teaches women how to travel safely on their own. First, we’ll reveal the blog’s strengths and weaknesses that result in our opportunities and threats. Then, we’ll continue with SEO and social media presence analysis.
If you take on the same topic, it could be a challenge to surpass the author considering her presence on mass media and social platforms.
Let’s check the website traffic and other parameters. As you can see on the screen below, the blog features a considerable amount of visitors but the average visit duration is very short: just 46 seconds. Readers usually check up to two pages per visit. The bounce rate is also pretty high — almost 78%. So, we might conclude that while the traffic is decent, the conversion rate should be improved.
When developing a marketing strategy, you need to choose a proper channel. Here are channel examples that you can use for your brand promotion:
It’s necessary to use channels that match your business, whether it will be one or several gateways. The key point is to select those with the highest ROI. That’s why you need to check this metric for the currently used channels and calculate a possible ROI for others. Then, make a win-win mix to engage it during the promotion.
What are the marketing plan steps in this case?
Certainly, to write a marketing strategy, it’s important to consider all the available channels. To choose the right solutions, take into account the segment of the market (whether you target B2B or B2C), niche, your sketch of the ideal customer (User Persona), and the competitors’ analysis results.
The sales funnel is the journey a new website visitor takes towards becoming a client. The funnel has various cycles, and each one of them influences the customer’s behavior and displays the steps that the website visitors take before making a purchase/subscription/click, etc.
It’s crucial to track the conversion rate in order to measure the effectiveness of each stage of the funnel. Then, don’t forget to optimize it with A/B testing for blog design, marketing techniques and more.
To succeed in building a marketing plan, you should focus on both trends within your niche and your project. Each stage of your strategy must be logical, consistent, measurable and based on the well-articulated goal. No solutions can be static since it’s a flexible marketing strategy process that needs permanent optimization.
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When processing is restricted, we will store your personal data, but not further process it.
which allows individuals to obtain and reuse their personal data for their own purposes across different services. It allows them to move, copy or transfer personal data easily from one IT environment to another in a safe and secure way, without hindrance to usability.
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