This video explains the digital marketing strategy for beginners.
Many people want to study digital marketing to sell things online but digital marketing strategy is part of your general marketing strategy. And general marketing strategy is all about your long-term goals and your long-term focus. General marketing strategy is also about your company’s mission and vision. So before any kind of digital marketing decision, you should follow these 3 steps
Step 1- You have to clearly identify your company’s overall strategy. Strategy means our long-term focus and our long-term vision and our long-term mission. We also have to write down our long-term target and goals in terms of sales, brand awareness, and market share. What are our long-term vision and long-term mission?
Step 2: You have to identify your growth strategy by looking at this simple sales growth model
You should also identify your priorities based on how you will grow your sales
Is your main priority selling to your current customers?
Is your main priority selling to new customer segments new types of customers
Is your main priority converting noncategory users meaning you will sell your product to people who never ever bought and who never ever considered and who are least likely to buy these products
Is your priority stealing customers from your competitors?
Step 3: You have to understand your product or service
Is it a high-risk or low-risk product? High risk is like a car, or lawyer which is risky and expensive if you make a wrong decision. So it is ideal that you focus on search engines and reviews because people will look for a lot of information before buying it.
Is impulse buying possible? Such health, fitness, fashion, and home decoration generate good impulse buying. For impulse buying, you should focus on social media.
Is repeat purchase or upselling possible? Some products are purchased more frequently such as tea, coffee, diapers, pet products, CBD, cosmetics. Some products are not good for repeat purchases such as baby strollers. For repeat purchase categories we must leverage social media.
What is the CLV? Consumer lifetime value. When we spend money on social media, we should always know in the long run how much money we get from one customer and how much it costs us to use paid social media. I’ll explain this later.
OK After we answered these questions now we can build our digital marketing strategy
The Strategy of Organic vs Paid
This is the most popular digital marketing strategy among my students. It clearly separates search engines and social media and also paid vs. organic demand.
For those who don’t know what organic is, organic means something that grows naturally without any artificial factor. In the digital world, you can attract people organically such as they search for you on google and they like your Facebook page without any incentive. But once you pay money to Facebook or Google to advertise, then it is no longer organic, it is paid.
On the left side, these represent doing marketing on search engines and doing marketing on social media, and doing marketing by sending emails.
If you go from the left side it is cheaper but more difficult and takes more time. The right side is easier and faster but it costs money and it doesn’t have long-term effects.
If you go from up to down you get more branding advantage and you know more about your customers.
Search engines’ superiority over social media and email is people use it when they want to buy products.
Social media and email’s superiority over search engines is
they can create demand and they help you develop relationships with customers
00:53 What is digital Marketing?
02:04 3 Questions You Must Answer
06:25 4 important parts of the strategy (Examples)
11:24 Helpful pieces of information
You can see my academic publications here https://scholar.google.com/citations?user=hOubFxUAAAAJ&hl=en
My goal is to use Youtube to teach the whole world how scientific methods can be used in everyday life from improving sales to maintaining a zen life.
You can subscribe to this channel here https://www.youtube.com/channel/UChQ7Gx5T-MADuIDO3mAEwXQ!
If you want to contact me or follow me
Steve Jobs Image credit Ben Stanfield https://www.flickr.com/photos/acaben/541420967/in/set-72157603723478753/
Most of the images and footage used on this site are acquired from membership-based stock photo sites. Some images may be acquired by public domain resources where the editing team gives credit to the source. On rare occasions, partial images and partial footage may be taken from third-party websites for educational purposes, criticism purposes, or commentary purposes with the appropriate credit to the source.