Marketing Strategy

4 Steps To Developing A Successful Digital Marketing Strategy in 2023


December 17, 2023
 min read
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The digital marketing strategy development process is a critical step in creating a successful campaign. By carefully considering all aspects of your business, you can build a solid foundation for success.

Key Factors to drive return on Investment on your Next Marketing Strategy this 2023

Follow our comprehensive guide on driving Growth Strategy for your organisation; best used for teams for

  • SaaS
  • Fintech
  • E-commerce
  • and other digital-first companies

Customer Research

Customer research is an essential part of any marketing strategy. It can help you understand your customers, competitors and business goals better so that you can develop a more effective marketing plan.

Begin with customer research. The first step to developing a successful digital marketing strategy is to understand your customers. You need to know what makes them tick. Find out what they want and need, what their pain points are, and how you can help them.

You can generally break customer market research into four categories:

  • Primary research can be conducted directly with your target customers.
  • Secondary research is compiled and organized by a third party, typically data aggregators or large customer market research companies who focus on specific industries and types of data.
  • Quantitative research provides statistical information on your customers.
  • Qualitative research examines people’s feelings and attitudes towards your product or service, and what motivates them.

Competitor Research

Competitor analysis is one of the most important aspects of your digital marketing strategy. It can help you understand what other brands are doing well and how you can improve upon it, as well as identify gaps in the market that need to be filled.

Competitors should be researched from two perspectives: direct competitors and indirect competitors. Direct competitors are companies whose products or services are similar to yours, while indirect competitors offer something different but complementary (like a bakery next door selling coffee).

There are many ways to conduct competitor research--you could use tools like Google Keyword Planner or SEMrush, which have free versions available; hire an analyst, or even do it yourself by going through old business plans and financial statements online.

Gaining a Competitive Edge through Market and Competitors Analysis is essential to developing a good digital marketing strategy. In most startups, the Job to be done framework is frequently used to help teams indentify their ideal personas or customer profiles quickly.

Refer to source to understand more about the JTBD framework

Target Market Analysis

After you have created your initial marketing plan, it's time to determine who your target audience is. The first step in this process is analyzing the current market and identifying your target audience. This can be done by looking at several factors such as:

  • Demographics (age, gender, ethnicity)
  • Psychographics (lifestyle orientation and values)
  • Geographic location/location data
Use the JTBD Framework to conduct your use research

Once you've defined your ideal customer profile (ICP), it's time to define what they need or want from your product or service. You should strive for a deep understanding of what drives their decisions so that when developing a digital marketing strategy for them, it will resonate with them on an emotional level.

Content Development and Distribution Strategy

Content strategy is the process of developing and implementing a plan that helps you create content that meets your business goals. The goal of your content marketing strategy is to build trust with customers, increase awareness of your brand, and drive engagement and sales through content creation, distribution and promotion.

Content development includes creating original pieces of content like blog posts or videos; curating existing resources (like videos on YouTube); or repurposing existing material into new formats (e.g., turning articles into infographics). Content creation can be done internally by employees or outsourced to freelancers/consultants who specialize in writing/editing/video production etcetera."

Businesses Should Think About Many Different Aspects of Their Business When Developing a Digital Marketing Strategy

When developing your digital marketing strategy, it's important to think about many different aspects of your business.

  • What are the business goals?
  • Who is the target audience?
  • Which digital marketing channels will you use? (Social media, search engine optimization (SEO), etc.)
  • What kind of content do you need to create for each channel and how will you distribute it once it's ready for consumption by customers or prospects--and how often should that happen in order for them to see it as part of their regular routine when interacting with brands like yours on social media platforms like Twitter and Facebook?

You also need to consider how success will be measured when determining whether or not these actions have been successful at driving new leads through conversion rates.

When developing a digital marketing strategy, businesses should think about many different aspects of their business. Consider how you can use your resources to reach customers and improve their experience with the brand.

Ultimately, the question of how to develop your digital marketing strategy is one best answered by your business. Take an honest look at your business and marketing strategies. Once you've done that, researching the 4 points listed above should help you develop a digital marketing strategy that your business will benefit from.

Using Grants to Help You Subsidise Your Next Digital Marketing Project

If you're new to the concept of growth we'd strongly advice to work closely with subject matter experts, and explore Growth services to help you through this journey

Here are some of the top grants that could help get your Project subsidised by up to 70 or 80% ( for certain industries ). To help you understand better, our VP of Advanced Services - Dom has taken the time to explain. Watch the overview video below

Here Are Our Top Grant Picks:

For marketers in SaaS, E-commerce, Fintech looking to pursue growth this year

  1. Strategic Branding and Marketing Development: Help you prepare the right Marketing Strategy for your team to increase Acquisition and Retention efforts
  2. Automation: For you to integrate best in class systems like CMS, CRMs, other Digital Marketing Analytics tools and more
  3. Product Development

If you're keen to explore the grants further, book a call with our lovely growth team today

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