How well do your customers know your brand? If you do not know the answer to this question, then you might have a problem.
A brand can only be popular if people know about it. Also, potential customers must know where to purchase your products. The price must be right, as well. All of these factors combined will have an impact on the purchasing decision of your customers.
Ace the competition by strengthening your brand. With a strong Digital Marketing Strategy, you can definitely achieve this.
Digital Marketing Defined
Digital Marketing is a data-driven type of marketing that goes beyond traditional marketing approaches. It is a set of techniques used via digital channels on the World Wide Web. This includes search engines, websites, email marketing, social media platforms, and applications on handheld devices.
From its inception during the mid-1980s to help advertise car companies, Digital Marketing has quickly gained popularity. Let us look closely at some of these trends:
Digital Marketing Trends
- 81% of customers conduct their research online before making a purchase (Source: CSA).
- 28% of online searches for something local convert into a sale (Source: Google).
- Almost one-third or roughly 2.34 billion people around the world regularly use social networks (Source: eMarketer).
- Visual content is shared 40 times more on social media, versus the traditional advertising (Source: USSocial).
Imagine how the market might change. Take advantage of these trends. Here are some pointers on how to make a strong Digital Marketing Strategy for your brand.
People. Who Is Your Target Market?
Your customers are the main reason for the existence of your brand. As a company, you look for a group of people with a specific need. You find the answer to this need, and thus create your online presence.
The first P of Digital Marketing is People. The target market is a segment of the community that a company wants to sell its products and offer its services to. The development of a marketing plan relies on one important foundation – the target market.
Furthermore, your target market can be segmented into the following:
- Demographic Factors (gender, age, occupation, career, educational background, etc.)
- Geographic Location (city, region, state, country, etc.)
- Behavioral Factors (mood, brand loyalty, price responsiveness, reaction to substitutes)
- Psychographic Factors (lifestyle, attitude, values, etc.)
Product. What Are You Selling?
With enough research and interaction with your target customers, a specific product or service can be created to answer the needs of your target market. This leads to the second P – the Product.
The second P of Digital Marketing is Product. This is the answer to the needs of the target market. A product can be in any form that satisfies the needs of customers. This can be information, a physical product, a service or an offer that a customer will make use of. It can be a tangible product or an intangible service.
In Digital Marketing, content marketing can focus on the features of a product and make them the subject of the content. Some keywords also revolve around the product’s or service’s definition. For example, “Best Baby Crib” or “Benefits of Ketogenic Diet”. The benefits and features of a product or service must be understood for a marketer to promote it through Digital Marketing.
Price. How Much Is Your Market Willing to Pay?
In coming up with a unique selling proposition for your brand, you need to factor in the willingness of your customer to pay for your product or service. This leads to the third P – the Price.
How much are your customers willing to pay for your products? Are they willing to use a service at the current price you offer? Price is one of the considerations one must understand in order to make a strong Digital Marketing Strategy. The possibilities online are limitless, right? So think about how you can use Digital Marketing to create more value for your product. Decide wisely on the price your customers will have to pay.
Pricing is also something you have to be careful with when it comes to creating a Strong Digital Marketing Strategy. For example, if you plan to explore e-Commerce for high priced brands, it is risky to offer your product at a lower rate compared to products displayed in your physical store. This will affect brand equity.
Place. Where Can Your Customers Find You?
You are in a better position if you are accessible and visible to your target market. When customers see your products, the likelihood that they will make a purchase is high. This takes us to the fourth P – the Place.
In Digital Marketing, Place is where you promote and sell your products and services. There are various Digital Marketing strategies you can explore which includes the following (but not limited to):
Search Engine Optimization – This make your products more visible online through SEO. Your customers should be able to “Google” you, or your products, whenever they want to. Search Engine Optimization makes sure you get better search ranking on search engine sites.
E-Commerce Platforms – These are digital avenues where people can buy and sell specific products or services. E-Commerce Platforms are where customers can find you.
- Big Commerce
Social Media Marketing Tools – Do not get left behind, especially when it comes to Social Media. Social media platforms are not just designed to promote products. Sellers can also sell and customers can actually make purchases through Social Media sites.
- Facebook. Biggest social network with an estimated 2 billion active users (June 2017).
- Instagram. Gained 800 million monthly active users (September 2017).
- Twitter. Average of 328 million monthly active microbloggers (Q2 2017).
- Pinterest. Fastest growing site to date; reaching 10 million monthly visitors.
- LinkedIn. Professional social media platform with over 467 million users in 2016.
Direct Marketing – Where you reach out to your customers through direct marketing. The internet is where you should be promoting and making your products available. Add a personal touch with Direct Marketing.
Promotion. What Is in It for Your Customers?
Definitely, you have a well-developed product or service for your customers. You have priced your brand correctly so that they will be accepted by the target market. Communication has been made on various platforms offline and online. With all of this done, have you ever thought that your competitors are also doing the same things? In this scenario, this is where the fifth P of marketing will come in; that is Promotion.
Since all of your competitors are probably offering the same products as you are, what is in it for your customers if they buy your product?
Promotion can be defined as how you communicate your brand. Your message must be clear and relevant, leaving an imprint on your customers. The benefits and features of your offer must be communicated in various ways to your target market.
When all else fails, it is good to know that you have done everything to achieve your goals. With all the competition nowadays, make sure to strengthen your brand. One way to do this is by having a Strong Digital Marketing Strategy.
Make sure to have a clear and strong strategy for your Digital Marketing plans. This will help you succeed in bringing more traffic to your website; capturing their interest and converting leads to sales.
Do you want to stand out from the competition? DevriX offers various ways to make your brands known through Digital Marketing. Here are some of our services that could be purchased as a monthly package that would strengthen your brand, improve your online presence, increase your visibility and build an audience of dedicated customers.