“You can know where you are going only if you know where you were.” The legendary documentary writer James Burke referred to the story, but this quote is easily applied to marketing.
A marketing plan without checking Internet marketing results in wasting funds for additional initiatives and gaps in strategy. Often marketers do not conduct in-depth analysis, because it is a terrible and time-consuming process.
Daily close work with marketing prevents you from objectively imagining where you are. This article will help outline a plan for how to assess the presence on the Internet and optimize efforts.
Before solving specific problems, consider the marketing strategy in general. If the marketing plan does not have a goal or it is not accurate, then it is useless to focus on improving specific instruments.
The questions at this stage may seem too simple. But their thorough analysis will help to see the truth about the business and marketing strategy.
- What is the current state of your business?
- How does your marketing strategy affect the market?
- What business goals do you expect from improving marketing?
- How does the success for your company look like?
- How can marketing contribute to this success?
To tune into success, it is necessary to determine it. A detailed action plan requires a clear understanding of the success criteria. A sober assessment of the state of affairs is extremely important because all future efforts will be compared with this basic standard.
The next step is to determine how marketing will affect profit. In the end, this is the only function of marketing. To assess the strategy and development plan, you need to understand how marketing interacts with the business.…
Any basic course on marketing distinguishes this classic business assessment tool. The SWOT consists of four categories: Strengths, Weaknesses, Opportunities, and Threats.
SWOT analysis is a simple and effective way of assessing business from the inside and outside.
Having determined the success criteria and the role of marketing in achieving them, you will be able to assess each component of the company’s marketing according to one of these four criteria.
Strengths and weaknesses: this is the internal state of the current marketing strategy. This assessment takes into account the capabilities and competencies of your marketing team, the quality of this team’s communication, or the accuracy and volume of marketing data.
Opportunities and threats: external factors that can affect the overall marketing strategy. This analysis includes market research, assessment of the impact of communication channels on traffic. For example, for a well-positioned MySpace company in 2005, Facebook’s ascent may have been a threat. You can also consider the marketing efforts of competitors and whether you can surpass them.
When performing a SWOT analysis, it is necessary to keep in mind the company’s business goals. The results of the study are relative and based on the ability of your company (internally and externally) to use marketing to meet business goals.
After SWOT analysis, the next step for the marketing strategy will be the implementation of a more detailed analysis of the components of Internet marketing.
Should I update the strategy of digital marketing?
Set yourself the goal of bringing an old online marketing strategy to modern standards.
At the Club of Directors, we will work on the topic of digital strategy, find out where to find clients and how to work with them. Together we will go through the stages of creating a digital strategy; we will outline measures for its implementation.…