Digital marketing is more important than ever. Take steps to create or improve your marketing strategy today to accelerate your results
Where do you start if you want to develop a digital marketing strategy? It's still a common challenge since many businesses know how vital digital and mobile channels are today for acquiring and retaining customers. Yet they don't have an integrated plan to support digital transformation and company growth, and engage their audiences effectively online.
If your business doesn't have a strategic marketing plan you will suffer from the ten problems I highlight later in this article and you will lose out to competitors who are more digitally savvy.
For each of the ten problems, I will also recommend marketing solutions and next steps to help you optimize your marketing strategy to win more customers.
What is digital marketing?
Digital marketing, specifically, refers to 'Achieving marketing objectives through applying digital technologies and media.'
The Silicon Valley Unicorn. When a platform that isn’t even out of beta has a valuation of a Billion dollars, as marketers we need to take note right? Absolutely
In May 2020 shortly after the world was thrown into disarray by the Coronavirus Pandemic, Clubhouse, a new social media site, focusing on an audio experience, entered Beta with around 1500 members. It was already being valued at $100 million dollars and it didn’t even have a website. Members trickled in through the year and then in December, it experienced hockey stick style growth. According to Backlinko, Clubhouse now has 6 million users at the time of writing (Feb 21), that’s up from 600k just two months ago.
Clubhouse marketing stats
Searches for “clubhouse app” have increased by 99x over the last 6 months according to Exploding Topics (below). They are up over 3250% over the last 90 days.
Learn how you can use the Product Life Cycle (PLC) marketing model to project changes in the perception and use of your products
The Product Life Cycle describes the stages of a product from launch to being discontinued. It is a strategy tool that helps companies plan for new product development and refine existing products.
What are the stages of the Product Life Cycle?
[si_guide_block id="29978" title="Download our Free Resource – Essential marketing models" description="With so many marketing models to choose from, it can be difficult to know which is the best to use in a specific situation. This free guide has been created to help today’s marketers apply our pick of the most popular established frameworks to aid their decision making."/]
New Product Development
The new product development stage occurs before the product's life-cycle begins, consisting of market research leading up to product launch. Hence this stage can include:
Key lessons from the Strategy and Innovation World Forum
Robert Jones, our research analyst and I headed off to London last week to go to the Strategy and Innovation World Forum, set up by World Forum Disrupt. The Innovation Directors were attending in force, and with talks from the global heads of innovation from Santander, BT, UNICEF, Vodaphone and other world leading businesses there were plenty of interesting lessons to be gleaned.
With over 32 different speakers over the two days of the forum, it would be a bit of an information overload, if I tried to convey everything that was discussed at the event. But it did offer some great insights into the cutting edge of innovation strategy, so I've tried to distil the top 8 talks into just a few bite-sized takeaways that you can learn from and implement when developing your own innovation strategy.
Setting Strategies for uncertain times - …
Key Findings from a survey of 500 European fashion retailers
Retailers are undoubtedly enthusiastic about innovation, with more than half viewing it as a priority for their business. But when it comes to actually delivering innovation, retailers face a variety of challenges.
To find out how retailers are approaching innovation in 2017 and beyond, we surveyed 500 retailers from across Europe. Here, in a summary of our full report, we share five key findings.
9 in 10 retailers take innovation seriously
Almost all retailers surveyed recognise the value of innovation, highlighting the growing importance of innovating in order to stay ahead in an increasingly competitive market. UK retailers in particular, place great emphasis on innovation, with 76% of respondents saying that it is a priority for their business.
A lack of time is the #1 barrier to innovation
Fashion retailers cite several barriers to…
Marketing agencies need to learn from tech leaders
Having spent ten years spearheading one of the UK’s leading dot com companies to digital success, Dave Heath is now shaking up the agency landscape by taking dot com thinking into agency processes.
Dave believes all companies should behave like a dot com; and an agency’s role is to help clients take a dot com approach to gain competitive advantage, especially where technology is core to achieving business goals – arguably in 2016 this is almost every company.
[si_definition title="What is it? Dot Com" description="A dot com company is a company that does most of its business on the internet, usually through a website that uses the popular top-level domain “.com”."/]
Some of the largest dot com companies are undoubtedly leading the field in digital innovation, delivering huge profits as a result.
Dot coms tend to act differently to multi-channel businesses that have added…
How technology can boost the effectiveness of your event
If your brand has been struggling to make a splash in its sector, it might be time to think about incorporating face-to-face tactics into your marketing methods to show your audience what you have to offer. A study by Regalix showed that 54% of B2B marketers said that event marketing was a significant tool when promoting their business - highlighting the fact that showcasing your brand at an event can have a significant impact.
Whether you’re attending an event or hosting your own tradeshow, event marketing can be invaluable when it comes to boosting your business - ensuring you leave with valuable new leads and industry connections.
Why trust in tech?
The world of technology is developing at an increasingly rapid rate and there is now an array of digital marketing tools that can…