A well-crafted digital marketing strategy brings tremendous results in branding, conversion optimization, and customer retention. However, many companies still hesitate before embarking on a mission to invest in one. What are the reasons for such reluctance?
1 It will cost too much.
Too often companies fear that digital marketing strategy will induce so many costs that, in the long run, the possible profits won’t generate sufficient ROI.
Businesses should stop perceiving marketing as a cost center, and instead see it as a profitable investment that produces measurable results. But if your company’s digital marketing strategy doesn’t generate revenue, then it’s high time to change the marketing agency that provides it.
Only agencies which understand the importance of data analytics in marketing can guarantee satisfactory ROI. Make sure your agency of choice has talented analytic professionals on board that can leverage various data to tailor marketing campaigns specifically for the targeted audiences.
2 I can’t prove results or ROI.
Digital marketing strategy is most effective when combined with data analytics. Without enough data analysis and testing involved in a marketing strategy, businesses can expect little to no results.
Experienced marketers will refine all available data and test various martech solutions for conversion. They will analyze the efficiency of marketing projects and campaigns, and the impact they have on the target audience. Data analytics gives marketers insight into the past, present, and future customer behavior. It allows marketers to adjust the marketing message accordingly to their findings.
Beyond ROI, data pulled from your online assets can also help you better understand the behavior of your target audience. You will know which web pages, forms, or functions should be enhanced to increase lead generation and revenue. Most importantly, however, thanks to data analytics you will know how the changes you make to all of your assets affect your reach and conversion.
3 I’m afraid of picking the wrong technology.
The right marketing technology is one of the most important aspects of every digital marketing strategy. Outdated solutions, non-integrable systems, problematic data transfers are only a few among the sea of marketing technology issues business owners face daily.
When systems lack in necessary solutions or features, most business operations are disrupted. Aside from annoyance, this increases production time and costs.
Marketing technology is increasingly becoming the role of a CMO, and to meet business objectives, the CMO has to know his or her way around technology. CMOs have to be able to use the systems effectively without the aid of the IT department. You have to be sure your marketing team is digital right down to the bone. That’s why the right platforms are so important.
4 We don’t know what we need.
What if you don’t have enough data to let in an analyst do his job? Or you are simply unsure what you’d like to include in your digital marketing strategy?
The answer is agile marketing.
With agile marketing you can test different tactics in short periods of time. Agile marketing gives you quick and definite answers as to what tactic works best when reaching your target audience.
Agile marketers divide digital marketing strategy into executable projects which give them valuable insight as to the effectiveness of particular marketing elements. This approach is time and cost effective, but most importantly, it gives you considerable marketing results.
5 Do I really need it? Our website already looks fine
Every business does, but they rarely realize it.
For example, business owners are often misled by the looks of their company website, believing that if it looks good, it sells well. The truth is, your company’s website might look fine, in fact, it might look amazing, but at the same time be completely useless in converting.
Technology constantly evolves, and you need to keep pace with the changes. Already 50% of all web traffic is mobile, but there only a few businesses make use of that opportunity. Those businesses will best placed to generate highest revenues now and into the future, instead of playing catch-up.
It’s common for businesses to hesitate before deciding to extend their marketing activities to digital marketing. The number of elements to consider in a digital marketing strategy is so vast, it can be overwhelming at times. However, with the right digital marketing agency and an eagerness to act, the benefits and profits of digital marketing outweigh any doubts. Even though traditional marketing will always be present, it is steadily receding into antiquity, giving reign to digital marketing.