As consumers and providers alike continue to embrace digital platforms for product search, purchasing, delivery, and fulfilment in the wake of COVID-19, brands are also under pressure to place increasing emphasis on their online marketing activities. The most recent IAB research on Advertising Spend and Revenue shows that in the United States, over three-quarters of media budgets in 2023 will be in digital media. This represents a global trend that also sees similar figures from IABS in the UK and Europe.
This growing emphasis on digital marketing is also having an effect in the employment sector. Recent research by LinkedIn indicates that one in every two of the top marketing jobs listed on the social media marketing platform are in the digital or media space. Over the past six months, the fastest-growing job roles have been media coordinators, search managers, social media coordinators, search engine optimisation (SEO) and marketing managers, media managers, marketing analysts, email marketing specialists, SEO analysts, and digital media managers. Due to the effects of the pandemic, nearly one in ten jobs in digital marketing are now remote roles.
Read more about the benefits of an Inbound strategy
In this environment, organisations must finely balance their marketing strategy between digital marketing channels and more traditional marketing activities such as print advertising, television, and direct mail. Brands must also keep a close eye on emerging and dominant trends in the digital marketing space to enable them to more effectively concentrate their marketing activities and get the greatest return on their investment in advertising campaigns.
Implementing an effective marketing strategy in the digital era requires considerable attention, judgment, and expertise. Organisations can shift this burden of responsibility by partnering with a full service strategic marketing agency.
How a full service marketing agency aids in developing and implementing an effective digital marketing strategy
A marketing strategy typically consists of a detailed, structured plan of a brand’s promotional efforts and marketing activities across a wide range of platforms and marketing channels. Such a marketing strategy will generally encompass several components, including sales, marketing and business objectives, a clear definition of the target audience, content marketing strategies, and key performance indicators (KPIs).
A full service marketing agency should be able to provide a range of marketing services, expertise, and resources that enable a brand to streamline its marketing strategy across a number of areas. These include the following:
The marketing mix
Based on the organisation’s own assessment of what it has to offer in terms of products or services, anticipated pricing, and where and how it will be selling these offerings, full service marketing agencies can use this information to formulate a workable marketing strategy and action plan for each promotional channel.
Budget allocation and management
A full service agency will typically have considerable experience in providing marketing services and effectively managing advertising campaigns. A full service marketing agency should also be able to provide assistance and guidance on how best to allocate funds and invest in the best tools, content, and marketing channels to sustain a successful and long-term digital marketing strategy.
[Image source: HubSpot]
Among the services that marketing agencies provide is detailed analysis of markets and the competitor environment. This knowledge can be critical in establishing how well a brand differentiates itself from its rivals, and can also bring to light opportunities to fill gaps in the market that can lead to a new marketing strategy.
Zooming in on your target audience
The experts at a full service marketing agency will also go through a methodical process for creating content that resonates with your target audience. This segmentation, targeting, and positioning (STP) procedure will enable your brand to create more relevant, valuable, and personalised material for your target audience, and emphasise what your organisation does better than all the rest.
Content creation is one of the cornerstones of modern digital marketing. For this reason, it’s essential to take a strategic approach to content creation, so that each piece of content directly addresses the needs or pain points of your target audience at their current stage of the buyer’s journey and provides value. Your content marketing strategy should also capitalise on emerging trends in the market, so that your brand gains high visibility.
According to HubSpot Research, half of marketers are currently using videos, with 47% leveraging images, followed by 33% posting blogs, articles, infographics (30%) and podcasts or other audio content (28%). Of these, video – and short form video in particular – has the highest return on investment (ROI). Other trending channels with a high ROI include influencer marketing, and social media marketing using direct messaging.
Measuring and monitoring your marketing strategy success
[Image source: HubSpot]
Throughout its implementation, it’s important to measure and monitor relevant metrics and KPIs to assess how well your marketing strategy is going. Here again, a results-driven full service marketing agency will be able to provide the expertise and resources that you need. The experts at a full service agency will also be able to identify the KPIs and metrics most relevant to your particular business and preferred customer acquisition channels.
Here at Incisive Edge, we know that the best brands combine their brand positioning, company website and digital marketing execution to build an emotional connection and create a smooth customer experience with their target audiences. Implemented well, your brand strategy and brand values can give you a competitive advantage to drive growth.
We have found that combining demographic data with triggers that demonstrate your prospect’s motivators, together with their behaviours, can have a huge impact on results. By starting with the things that make your business great for the world, we’re able to craft a compelling brand positioning statement and top line message which rolls neatly into more detailed content, and can be applied all the way across your marketing strategies, sales team and sales funnels.
To find out more about how Incisive Edge can help streamline your digital marketing strategy for 2023, get in touch with us.