In today’s society, every business should have a marketing plan. It’s clear and concise, and it predicts your business’s future outcome. But since 2012, that has changed because of recent technology advances. So now, it’s every business should have a marketing and digital marketing strategy.
However, some businesses don’t know where to start. They believe it will cost too much money or take too much time, when really, it’s the opposite. By taking the time to invest in strategies like search engines, social media, email marketing, and site design your business can flourish in the digital and real world.
Do You Have A Digital Marketing Strategy?
A poll taken in 2012, indicated that around two-thirds of businesses did not have a digital marketing plan. Now in 2017, that number has shrunk to 49% in the latest survey, and although that is still high, it means almost half of these businesses are digital with no strategy or plan whatsoever.
Now if you don’t have a strategy, here are 5 most common problems that could arise:
1. You’re Directionless
Companies without a digital marketing strategy don’t have clear strategic goals for what they want to achieve online. They also don’t know how they would gain customers or build deeper relationships with existing ones. Basically, without goals you have no motivation to reach them.
2. You Won’t Know Your Online Market Share
There is a lot of demand online and if your business doesn’t have a strategy, chances are you won’t understand your online marketplace. You also won’t understand the dynamic of the online space, for example, customer profile and behavior, competitors, or how to communicate online.
3. Existing and Startup Competitors Will Gain Market Share
If you’re not spending time online, building your market and planning goals then competitors will gain the upperhand. Also, they can steal customers from you because they’ve gone digital and that’s easy for consumers.
4. You Don’t Have Strong Online Value
The less time you spend offline, you won’t have a strong online value. Therefore, new customers won’t engage or you can’t gain loyal customers.
5. You’re Not Optimizing
Every business should have a digital marketing strategy. There are so many ways to grow in your business by branching out online. Not only will you stay current in the market, but you will also create a digital footprint that will stay up forever.
Now some people don’t want to make that change, but it’s actually not that difficult at all. By spending time on your goals, and investing in a digital marketing strategy, your business can grow exponentially online and off.