“Strategy without process is little more than a wish list.” Robert Filek, Consultant
We talk a lot about digital marketing strategies as marketing professionals. But still, so many organizations don’t have a robust, all-encompassing strategy in place. According to Smart Insights, almost half of businesses don’t have a digital marketing strategy — even though they are doing digital marketing. Creating and implementing a strategy may feel time-consuming, or like an ineffective use of your time — but the fact of the matter is, your business needs one in place to thrive. CoSchedule discovered that marketers who usually or always plan their projects and campaigns when executing their strategy are 356% more likely to report success. Reap the rewards of a clearly defined strategy and understand why a lack of one could cause you more problems than you realize.
You’re directionless without a digital marketing strategy
According to HubSpot, misalignment between sales and marketing can cost B2B organizations more than 10% of revenue loss every year. Organizations that work in harmony across all teams are the most successful ones. Outlining marketing objectives can ensure all teams are working towards clear goals, the same established timeline, and are reflecting your brand in everything they do. Consistent branding can increase revenue by 23%, according to Forbes. If you haven’t clearly defined your brand values and positioning, your reputation faces taking a hit. Every marketing activity you undertake should reflect your brand values and aim to meet one or more of your objectives. Without a marketing plan in place, you risk ad-hoc marketing efforts with no real measurement or value.
You won’t fully understand your online audience
As part of an effective B2B marketing strategy, marketers should establish their audience. Use a segmentation strategy and prioritize your target audience, or undertake an ABM approach, targeting specific businesses or accounts. According to InstaPage, Segmented, targeted, and personalized emails generate 58% of all revenue. And, ITSMA found companies that implement ABM have reported an 84% improvement in reputation, and 74% improvement in customer relationships. Without a clear understanding of who makes up your audience, how can you ensure the content you produce, digital marketing channels you use and leads you follow up are appropriate? According to CoSchedule, successful marketers are 242% more likely to perform audience research once per quarter or more. Your existing customers are your greatest asset. Explore who they are to establish how to maximize existing relationships and acquire customers with similar needs for your services.
eConsultancy found that 55% of marketers say ‘a better use of data’ for targeting audiences is a priority for 2019. Making use of data available to you is crucial. And, with a successful strategy in place, you can decide if you need to acquire more. Gaining audience insight doesn’t just benefit your audience either — increase customer retention, see more opportunities for upselling and cross-selling, and save money by directing advertisements and marketing messages directly to your target audience.
You risk wasting time and money on duplication
Marketing can be a time-consuming and costly process. A strategy can help streamline, organize, eliminate and supercharge your processes. If you don’t properly plan each marketing campaign, you risk not only losing out on the time and budget you used in executing the campaign but have to put in double the work to devise a new plan and pick up the pieces. Strategies enable marketers to include budgets and outline timescales, too. So, once you have a strategy in place, all of your digital marketing campaigns can be monitored and measured to ensure the ultimate success. You’ll be able to make changes to campaigns as they happen, with targets, goals and time constraints in place. That means no more over-spending, missing deadlines, wasted efforts, or duplicate work. You can divide up jobs specifically — for example, according to HubSpot, 42% of organizations have a designated content strategist. This helps improve accountability and ensures team members have actionable take-aways from planning meetings.
You won’t maximize your returns by optimizing your conversions
CoSchedule found that marketers who document their strategy are 538% more likely to report success than those who don’t. This makes perfect sense when we consider how much easier it is to measure ROI with a marketing strategy in place. With clear targets, marketers can measure how well their campaigns are doing and which platforms are the most successful. When it comes to implementing online marketing strategies, marketers should always optimize conversions. All of your digital communications should link back to your site and contain a call to action that will help you meet your goals. Whether it’s signing up to a newsletter, making a purchase or downloading a piece of content. The best way to ensure you are improving your conversion rate (CRO), is to refer back to your strategy. If your customers aren’t converting, then perhaps you aren’t using the right platforms, language, imagery or content to engage them. Optimize your conversions by making personalization key factor in your marketing strategy.
According to McKinsey, personalization can increase the effectiveness of marketing spend by up to 30%. Webeo is a personalization tool changing the face of B2B websites. The software works by serving relevant content and individual experiences to your website visitors. Utilizing a global leading database of business IP addresses, Webeo tailors the appearance, content, and language used on your site to meet the specific needs of the visitor. Greet the user by name, show them you’re a leader in their industry and create the perfect website, for every visitor. Webeo can support your entire digital strategy — improving SEO, enhancing CRO, and creating stronger customer relationships and brand reputation. Make personalization a key part of your strategy. Discover Webeo and book your free demonstration today.