Digital marketing strategy builds on and adapts the principles of traditional marketing, using the opportunities and challenges offered by technology and the digital medium.
User-centric thinking, which involves placing the user at the core of all decisions, is vital when looking at building a successful digital marketing strategy. The advent of new technologies means the digital marketing strategist of today is offered not only a plethora of new tactical possibilities, but also unprecedented ways of measuring the effectiveness of chosen strategies and tactics.
The fact that digital marketing is highly empirical is one of its key strengths. Everything can be measured: from behaviours, to actions and action paths, to results. This means that the digital marketing strategist should start thinking with return on investment (ROI) in mind.
If we define strategy as “a plan of action designed to achieve a particular outcome”, then the desired outcome from a digital marketing strategy point of view would be aligned with your organisation’s overall business objectives. For example, if one of the overall business objectives is acquisition of new clients, possible digital marketing objectives might be building brand awareness online.
An effective strategy involves making choices, as the brand that attempts to be all things to all people risks becoming unfocused or losing the clarity of its value proposition. To make a strong choice, a strategist must first examine what the choices are: what are the factors that affect your business? These include market, competitor landscape, customers and core competencies
In order to assist strategists in the formulation of business strategies, models such as The Four Ps (product, price, placement and promotion) and the Porter Five Forces analysis have become widely adopted – both of these tools assist in evaluating the kind of value the business is offering and the competitiveness of the market. The Internet, however, impacts hugely on both of these aspects, prompting us to re-examine and adapt traditional models to the changing market environment and new consumer behaviours.