7 Essential Elements of a Digital Strategy

Competitor Analysis

7 Essential Elements of a Digital Strategy

In business, digital strategies are actively used. And it has already been repeatedly proved that this is not a waste of money, as many might immediately think. If your strategy is in your head, then you are working blindly. Strategy – the way from point A to point B, the question is in the route, we advise you to read to the end!

The development of the Internet and technology entails technology innovation. The company’s strategy aimed at its development on the Internet is an excellent way to preserve and increase its business. The main advantages of the Internet is its accessibility to every person, regardless of age and social status. Everyone uses it for their own purposes. In this article, we’ll talk about digital strategies used by private medium-sized non-resource businesses.

If we turn to the etymology of the word “strategy”, then it came from one of the words of the ancient Greek language, which in translation means “the art of a commander”. This word was used when it came to achieving a goal.

Digital strategy is an action, the purpose of which is to achieve a company success on the Internet. The main thing is to correctly understand what success is for each particular company.

A few basic goals that companies set for themselves when it comes to successful online promotion
50% increase in online sales.
Over six months, an increase in online channel attendance to 50 thousand people per day and the beginning of earnings under the affiliate program.
Creating a positive image of the employer to attract young professionals.
Many businessmen initially have a question: do they need an Internet space for development? Only an outside expert can give an exact answer to the question whether a specific company needs a digital strategy!

Why the importance of digital promotion cannot be determined by the managers of the company who work there?

Employees of the company daily face a huge flow of information. In this mode, it is difficult to follow the changing trends in Internet marketing.
Often, ordinary top managers, trying to decide whether their company needs digital or not, start looking at their competitors. And, having learned that they do not use such a development strategy, they also decide to put this issue on the back burner.
Digital experts are specialists with extensive industry experience. They lead various projects, therefore, they can clearly talk about the benefits that a competent Internet marketing strategy can bring.

Consider the 7 essential elements that should be included in a well-designed digital strategy

The industry specifics of the client’s business should be taken into account.
It is important to take into account not only macroindustries, but also microindustries, i.e. company specializations. For example, for a company that sells food, the macro-industry will be trade, and the micro-industry will be the specific food that the company sells. It is necessary to take these two sectors into account in order to keep abreast of all development trends, not to repeat themselves in your developments and to know your real competitors.

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The composition of the digital strategy.

2.1. Diagnostics of the site, incoming flow of leads and costs / results.

Many companies that have their own website often do not use it 100%, not seeing the point of using an information channel. However, it is precisely the one who understands all the advantages of online development will become a leader in his market. Without neglecting the digital strategy, the company will be able to maintain its leading position for a long time.

What functions does the company website perform?

Sells goods and services.
Attracts employees.
Contains detailed information about the company.
Attracts partners and counterparties.
Advertises a company on the Internet.
Automates business processes.

Any company except the site can have one-page landing pages (landing pages). Landings are used only for sales, they allow the visitor to perform only the target action (purchase, download, call). But the corporate site has many functions and has a corporate identity.

To achieve a temporary ideal for the site, taking into account the specifics of business and IT technologies, you need to go through the following checklist:

The site must be responsive.
The site must have quality traffic.
The site should be a significant element in the business of the company.
The last point is the most basic thing in using a digital strategy.

2.2. Positioning a company on the Internet.

This item means the following: visited, who visit the company’s website, must clearly understand what exactly this company does and what activities it does.

2.3. Tasks that can be actively solved online.

The task is the same as the goal, only on a smaller scale. For example, if the main goal of a company is to enter a new market, then a digital strategy for it is:

Assistance in understanding geo-targeting in a specific region.
Article plan development: posting articles in popular publications among participants.
Calculation of the number of interested parties in a company’s services or products in a new market.
Building an online sales system for the regional market, etc.
There can be many tasks; the methods for solving them depend on this.

2.4. Digital-tools that have the rationale for their use.

Consider a brief description of the pros and cons of each of the tools of Internet marketing.

1. Tool: corporate website

Pros: spending on your site, you invest in your asset; a site can be a center of sales, webinars, communication, announcements, etc., i.e. the center of any activity; the site significantly reduces the load on the call center due to the placement of basic information on it, which is available daily and around the clock.

Cons: you must constantly deal with the promotion, security of the site and its improvements.

2. Tool: SEO. Search Engine Promotion

Pros: it is not perceived as an advertising channel, in view of which consumers have confidence on their part; receiving the highest quality traffic; You can draw up an annual plan regarding the budget; high conversion of visitors and customers.

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Cons: predicting the result is not easy; for SEO, you must force change some elements of the site; sustainable results are achieved over a long period; high degree of dependence on search engines and webmasters.

3. Tool: contextual advertising

Pros: the ability to track the targeting of temporary, behavioral, socio-demographic, thematic, geo-targeting; the ability to quickly launch; The ability to manage your budget, keywords and ads.

Cons: It takes effort to make an ad clickable; the ad is marked “advertising”; if the indicators are low, then the search engine can forcibly disable the advertisement; high cash costs are needed, especially if the niche is competitive.

4. Tool: display advertising

Pros: reaching a large audience; emotional and motivational message; good memorability thanks to repeated repetitions; Good integration with retargeting.

Cons: high cash costs; poorly applied to classic banner execution; may cause a negative reaction from users.

5. Tool: social networks

Pros: the ability to reach the target audience in an informal setting; good analytics of advertising moves; The audience is growing fast and constantly.

Cons: it is difficult to predict the result, since users, in the first place, expect from the social networks recreation and entertainment, rather than training, shopping, etc.

6. Tool: video advertising

Pros: large audience coverage; a good option if you need a viral campaign; the ability to see and hear the promise at the same time.

Cons: poor targeting; high cash costs for high-quality video; high costs for advertising to be large-scale and successful.

7. Tool: Email Marketing

Pros: increased partner loyalty; free of charge (except for the cost of content and delivery); a good opportunity to build a customer base; You can independently design the design of letters and database segmentation.

Cons: due to spam mailings, normal emails can also be blocked; a high probability of becoming obsessive; you must have the button “Unsubscribe from the newsletter”.

Budgeting and planning, KPI.
When developing an effective strategy, it is important to understand how much money is saved from the company’s budget and how much money is brought in. It is very important to determine predictive ROI.

1. Tool: company website.

KPI: refusals (visitors leave the site; they are indicators of disinterest in the content of the site); time on the site (the amount of time spent by the user on the site); viewing depth (the number of pages viewed by the user).

2. Tool: SEO.

KPI: site positions (positions in the search for queries), traffic to the site from brand queries / traffic to the site from non-brand queries.

3. Tool: contextual advertising.

KPI: impressions (the number of times an ad was shown), CPC (price per click), CTR (shows how clickable an ad is), CPL (price per lead), CPO (price per sale).

4. Tool: display advertising.

KPI: similar to contextual advertising + CPM (cost 1000 impressions).

5. Tool: video advertising.

KPI: similar to display ads + video duration.

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6. Tool: SMM.

KPI: number of participants (subscribers, community members), reach (number of those who see publications), likes, reposts, comments (indicators of activity and “quality” of community members).

7. Tool: E-mail marketing.

KPI: % of reading emails, the number of unsubscribes from the subscription, the number of click-throughs in the letter to the site, the duration of the video on the landing + indicators, similar to the site and contextual advertising.

Consideration of counterparty recommendations when implementing the strategy.
When developing a digital strategy, one should remember that someone is good at promoting in social networks, and someone is a leader in SEO promotion. Therefore, the developer of the strategy should not shorten the implementation of all points only to himself, but should suggest who exactly can best implement one idea or another.

A conceptual approach to the analytics system.
Digital strategy is not only a description of the main business actions on the Internet, but also a prepared basis for reporting on tracked indicators, on analytical systems, on goals.

The need to analyze competitors.
This item should include any development strategy. It is necessary to take 4 competitive sites and analyze them according to the following indicators:

How much traffic is on the company’s website, and how much is on competitors’ sites.
See what kind of traffic it is: traffic received through direct visits, through mailings, referrals, through social networks, organic or paid search, through display advertising.
Rate the quality of traffic: look at the duration of visits, the number of bounce rates, and the performance of the pages that have been viewed.
Control by the author of the strategy for two months.
The author of the digital strategy must in the first months fully control its implementation. This is necessary in order to avoid misunderstanding due to the fact that the customer does not always understand this unique strategic document.

In order for the strategy to lead to effective results, all 7 of the above elements are mandatory. But there are also options for strategies based on the primary interests of the company:

Website development (in-depth audit, development strategy): obtaining specific recommendations, screenshots, action plan, budgeting and ROI forecasts.

SEO strategy (search promotion): getting internal and external optimization, a semantic core, a report and specific recommendations, screenshots and an action plan, budgeting and ROI forecasts.

Online sales system (strategy, tools, tactics): obtaining a set of online sales tools, budgeting and ROI forecasts, methods for tracking the effectiveness of online sales, specific recommendations.

Internet PR (articles, banners, social networks, blogs): obtaining a media plan with budgeting, strategies for working in social networks and blogs, the basics of developing corporate online TV, as well as methods for writing articles.

E-mail marketing (strategy, segmentation, plan): obtaining a company’s email development strategy.

Important! Any digital strategy should be based on the development of the site. And the development of the site, in turn, should be combined with other elements of promotion.

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