Every company wants to construct an effective digital strategy to produce the results desired. By positioning your digital strategy at the forefront of your business objectives, the return on investment (ROI) will prove to be greater. Many companies hire a community manager or marketer to create a digital strategy in reference to social media marketing efforts, but the digital strategy must align with a company’s overall vision and goals.
Perhaps you’re a startup or entrepreneur trying to understand the significance of a digital strategy and how it pertains to your business infrastructure. Wherever you may be in the business strategic process, constructing a digital strategy can really make or break your brand recognition and marketing success.
Check out the five stages of creating a digital strategy:
- Plan: Depending on the stage of your business, outlining a plan of your digital strategy is the first step. Take the time to really develop a digital strategy that parallels your brand message and vision. Define what your product, brand, or service is and how it will impact the market. According to Brian Solis, principal at Altimeter Group, organizations need to adapt to changes in the marketing landscape, or they will be left behind. Before deciding on tactics, create a plan that is meaningful and communicates your offerings to your target audience.
- Competition: To maintain a well-informed perception of your target market and brand message, it’s important to understand what your competitors are doing or aren’t doing as well. Companies have many options in conducting a competitor analysis to boost marketing efforts. According to Vertical Response, it’s about identifying your competition and knowing how you measure up in the market.
- Story: What’s your storytelling idea? How does your brand, product, or service relate to your target customer? After you’ve created your story, the next step is storydoing. In a previous post on storydoing, I encouraged companies to drive their storytelling to new heights that drive the company’s vision, values, and plans into action through company-wide activity. These activities may include: new product development, a social media campaign, or cultivating partnerships.
- Social Channels: Which social media platforms will you execute your digital strategy on? While it may seem obvious that more is better, it’s a common pitfall many businesses experience. Think strategically about each social network – how it will benefit your company’s goals and extend your reach. Not all social networks will align with your strategic vision and brand identity.
- Social Performance: You’ve planned, created, and launched your digital strategy. Analysis is next. Tracking and evaluating your social activity is pertinent to your digital performance. Without an analytics system or measurable tools in place, your digital efforts will never be as effective as possible. With a multitude of social analytic tools available, tracking your social performance is easier than ever!