Digital Marketing Plan – Objectives and Strategy.Businesses that want to achieve digital success today all must have their objectives and strategies defined. These plans are crucial to a business achieving its goal on the internet, and also guide their online promotional activities.
Therefore, a business digital marketing objectives should be specific, measurable, achievable, timely and relevant to the business.Many businesses in Nigeria today are beginning to integrate and adopt digital marketing practices but hardly do they formulate a guiding objective and strategy or better yet examine what works and measure their digital campaigns over time.HOW TO COME UP WITH YOUR OBJECTIVES AND STRATEGIES.
Firstly, you need to know the strengths and weakness of your business, and the business terrane you operate in.Secondly, specify your digital marketing objectives and think of how they align with your overall marketing objectives i.e offline advertising and promotion.
An example of digital marketing objective could be to generate 100 new leads, increase sales by 40% over the next quarter by targeting a new demographic of audience online to achieve your business goal.When drafting your digital marketing objectives, you should consider how they meet your business goals, your key performance indicators and most importantly what the return on investment will be. Define your Business ROI:For most businesses, some of their ROI objectives include; an increased conversion rate, brand awareness, an increase in website traffic, increase in foot traffic to store, market dominance etc.Key Performance Indicators (KPIs):At this point, it imperative you list out key performance indicators to monitor the digital marketing progress of your business.Some of which may include the following;1.Business Contributions such as; i.
Online revenue Contribution – refers to the amount of revenue generated from your website.ii. Online profit contribution – refers to the percentage profit from your digital marketing campaigns.iii. Online service transaction contribution – refers to the different orders that contributed to the online sales.
iv. Online reach percentage – monthly or weekly online audience attracted to your site.v. Online market share – refers to the percentage of online market revenue your business has been able to capture. You can compare this with your offline revenue.
vi. Online customer migration – refers to the percentage of current customers patronizing you online.2.
Marketing Outcomes;i. Salesii. Leads iii. Cost per Acquisition (CPA) – refers to the advertising cost of converting a first-time customer.
iv. Average order value. v.
Lifetime value – refers to the segments of customers that maintain patronage overtime.vi. Other costs such as the cost of service.
vii. Average touch frequency3.Customer Behavior;i. Site engagements rates – bounce rates, number of sessions, most viewed pages.ii.
Site conversion ratesiii. Email conversion ratesiv. Visits to purchase/Time to purchasev.
Numbers of products purchased per customer.vi. Transaction behavior – Frequency and monetary value for different products, service pages, and customer demographics on your webiste.vii. Activity or participation levels – refers to the percentage of customers who are active on your website.
viii. Loyalty metrics – the percentage of customers who keeps on patronizing your business during a period of time.4.Customer Service;i.
Customer satisfaction indexii. The number of comments from the site and emailiii. Brand metricsiv. Site performance and availability.v.
Email inquiry response time and accuracy.5.WebSite;i.
The share of search for your main keywords.ii. Cost Per Click (CPC) for your online ads.iii.
Cost Per Thousand (CPM) – impressions.iv. Click Through Rate – the percentage of searchers that click on your ads.Measure the Success of Your Plan:How you measure your digital marketing plan depend on your overall business goals and objectives as it differs from business to business. However, your digital marketing plan has to define the entire customers’ journey, from how a customer will become aware of your business, why they will then want to visit your website, and how easily will they be able to make a purchase or register once on your site.There are lots of digital tactics on how to plan a customer journey, from the point of awareness, acquisition to conversion.STRATEGIZE!After you’ve come up with a defined digital campaign objective for your business, it’s time to decide the Strategies you want to use.Define the tactics to be adopted, break down your plan into meaningful steps required to actively execute and implement your plan.