A digital marketing strategy will typically focus on cost-effective tactics that allow small businesses to maximize their brand exposure. Low-cost techniques like SEO, SMM, and content marketing are readily available to all businesses, regardless of size. Most marketing budgets begin small, but as the organization grows, the budget can increase and overlapping campaigns can increase the benefits even more. However, organizations can reap incredible rewards with a dedicated digital marketing budget. So, what are the best tactics for your small business?
Social Media Marketing
A social media account with empowered employees offers many benefits to consumers, including faster content consumption, forums where customers can voice their opinions without fear of retribution, and the satisfaction of dealing with a responsive seller. These benefits translate into powerful engagement motivations. Using social media as part of a digital marketing strategy can help businesses grow and reach new customers. To make the most of this marketing medium, brands should employ an integrated approach that incorporates all forms of digital marketing, including paid advertising.
In addition to achieving business goals, social media marketing provides a direct way to engage customers and influencers and can increase brand awareness. Paid social media advertising allows businesses to appear in front of a highly targeted audience. Unlike traditional marketing methods, social media can help humanize a brand and help it develop an approachable persona. In addition, if done correctly, social media can increase traffic to a website, boost brand awareness, and engage existing customers.
While you might not think of video marketing as part of your digital marketing strategy, it can prove extremely beneficial for your business. A recent study found that nearly four times as many consumers would rather watch a video about a product or service than read a written description. Not only can videos help you display product functionality and appeal to consumers’ emotions, but they can also create a personalized and enticing customer experience.
To measure the effectiveness of your video content, start by tracking how many people have viewed it. Once you know how many views you’ve received, you can set goals and evaluate success. If you post your videos too often, you may become too obsessed with the view count, and ignore many other metrics that will have a greater impact on your campaign. Therefore, it’s imperative to measure your videos’ performance over time to see if your strategy is working.
If you want your brand to get noticed, consider including influencer marketing as part of your digital strategy. Consumers trust recommendations from third parties, and 70% of people will believe a product or service if it is recommended by a celebrity or influential individual. Similarly, your brand may want to use video, podcasts, and social media to promote products or services. However, there are some key differences between influencer marketing and other digital marketing strategies.
Using influencers can increase brand awareness and drive sales, but it is important to note that the ROI of this type of advertising is higher than that of paid ads. Unlike paid advertising, influencer marketing posts do not look like an advertisement. Instead, they look like a genuine endorsement by an influencer. Additionally, this strategy is inexpensive compared to other forms of digital marketing. But it is important to remember that while influencers are beneficial for brand image, choosing the wrong influencer could actually hurt the brand more than it can help it.
Owned media is any kind of media that a brand owns. Examples of this media include company websites, blogs, mobile apps, and social presences. Owned media can also be offline, in the form of brochures and retail stores. These media provide unique opportunities to promote products and services and have similar ad formats to other media. As such, owned media strategies emphasize the importance of multi-channel publishing.
Owned media is a crucial component of digital marketing strategies, as it helps to build a connection with subscribers, members, and customers. Although some brands spend too much time talking about themselves, the content on owned media should ultimately help people do something. Paid media, on the other hand, involves working with a third-party platform to target a specific audience. It includes advertising through radio ads, display ads, social media marketing, and paid influencers.
Attribution modeling helps organizations understand the true impact of their marketing dollars. By tracking the results of different marketing initiatives, marketers can optimize their programs and determine which ones are driving the most conversions. But not all attribution models are created equal. To make the most of your digital marketing strategy, you should understand the basics of attribution modeling and the different types of models. Listed below are the differences between the most popular types of attribution models.
The W-Shaped model is based on the same principles as the U-Shaped model but adds a stage called opportunity. The final touchpoint is given more credit than the first, which aligns nicely with the value placed on the opportunity stage. The downside of this model is that it can devalue the value of interactions at the top of the funnel and alter the true impact of your marketing efforts on future customers. In the w-shape model, the first touchpoint receives 80% of the credit, while the rest is divide between other touchpoints during the customer’s journey.