Digital Account Manager
Analytics and Data Science
In an increasingly online world, having a digital marketing strategy is crucial if your brand is to attract and retain customers and grow your business both online and offline.
But what happens if your digital marketing strategy is failing to produce tangible business results? Unfortunately, having an online presence and regular activity does not guarantee more customers or, more revenue.
In this blog, we look at several reasons why your strategy is failing to produce the results you need.
Having a data-driven digital strategy is key to getting results, but not all data is equal when it comes to informing your business decisions. With more data available to marketers than ever before, it is crucial you are tracking the right data for your business needs and using these insights to create a bespoke strategy.
Aligning the metrics and KPIs you track with your wider business objectives and ensuring you have the tools in place to track them, whether via web analytics, social analytics or a custom solution, means you can then identify the impact of your marketing activity on these KPIs and adjust the strategy to achieve these goals.
For example, if a goal is to increase brand awareness, you may want to track impressions, brand search, new followers as well as website visits.
On the other hand, if a goal is to make your customers more profitable, tracking average purchase order and the lifetime value of a customer are both metrics you may want to track.
Understanding what marketing channels have contributed to reaching your goals is key to making informed budget decisions about where your marketing budget is best spent. Properly attributing value to the channels, campaigns, creatives and keywords which are driving conversions (and other goal KPIs) means you can see which areas will get a bigger ROI.
Google has several different attribution models available within its tools, or if you have more enterprise-level platforms such as Analytics 360, you can create a custom attribution models to suit your specific business needs.
Once you understand the true value of your marketing activity, you can funnel budget into areas which have more impact, and less into areas which don’t.
It is common for businesses to treat all their marketing channels separately, particularly for brands where they outsource marketing activity to various agencies. Treating each channel in silos can lead to duplication of work and a disjointed customer journey, meaning higher costs and lower performance than if you were to tie up all channels into an integrated strategy.
Having a wider strategy with overarching objectives which all channels feed into, sharing cross-channel insights, and maximising content across all channels will improve performance and increase efficiency across all channels.
Not all customers are created equally and the amount you invest in attracting and retaining customers should vary depending on several factors including their lifetime value and likelihood to convert.
Smart bidding, sequential messaging and segmenting your audience are all tactics which can help you to tailor both the content you show customers, and the amount you pay for their clicks, meaning higher conversion rates and sales.
Reaching the right person, with the right message, at the right time, is an essential part of any marketing strategy. The customer journey today is much more complex than that of five, ten and twenty years ago, and customers use different channels at different stages of their journey.
Once you have identified your audience and personas, map out the customer journey and identify which touchpoints they use at different parts of the journey and make sure you target them appropriately.
If your digital marketing strategy is successful in driving high volumes of traffic to your site but you have yet to see a positive uplift in revenue, your website may be standing in the way of where you want to be.
Conversion rate optimization (CRO) removes the barriers to conversion and reduces the likelihood of a visitor abandoning your site before they buy, download a form, make a booking, or complete any other onsite action.
CRO turns more of your website visitors into paying customers which, when combined with increased traffic from other marketing streams, can have a big impact on your overall revenue. You can see just how much an impact CRO will have by using our CRO calculator.
Getting your digital strategy right is key to growing your business both online and offline. Once you have your data-driven strategy in place, it is important to regularly monitor results and adjust the strategy as needed to stay at the forefront of your industry.
Need help with your digital strategy?Get in touch