Boost your Digital Growth with Insights
Digital Marketing has emerged as the most dynamic business process for almost every industry sector. The world is getting increasingly digital and brands are facing cutting-edge competition. Gaining a competitive advantage through digital marketing is where most of the businesses focus upon. One thing which is terribly important across the whole phenomenon is – INSIGHTS.
Measuring your marketing effectiveness is inevitably essential in all aspects. You will need to create a comprehensive foundation considering analytics and insights being the pivotal pillars. With a digital-first mindset, this requires consistent identification of key-trends and forecasts.
You may not know when Google or Instagram changes its algorithm. It can be highly volatile for your marketing process if you’re not abreast with those crucial insights. So before you learn WHAT it is all about, first know WHY it is so important!
Consider the following statistics –
- Insight-driven organizations grow 8x Faster. – Forrester
- Marketers are 53% more likely to do “data hygiene” than they were before. – Experian Marketing
- 70% of businesses have little to no ability to integrate online and offline customer data. – Acxiom
While there are plenty of opportunities, the insightful marketing approach has its own spectrum of challenges and bottlenecks. It’s all about being meticulous towards identifying each and every factor. You never know which factor will influence your sales the most.
Following are the key-factors to gather insights for developing a result-oriented digital marketing strategy –
Data & Algorithms
Understanding The Nature of Online Platforms
It might sound too technical to you but in a technology-driven world, you must know the aesthetics of online platforms in order to get results out of it. Search engines and social media platforms work according to certain algorithms to provide relevant content for the user. You’ll need to balance your online environment with respect to the arrays of every algorithm.
The very first step in determining a digital marketing strategy involves the understanding of all the available data in regards to online platforms. This will enable you to assess your business objectives and figure out every possible tactic to get them working online. You’ll also need to stay updated with any change for optimizing your marketing performance on the digital landscape.
Determining Competitors & Analyzing their Online Environment
Well, this is where you’d be able to understand what sort of marketing activities will work for your brand online. Competitive Analysis is a necessary tactic for finding out what your business rivals are doing and what kind of threat they present to your targeting. In other words, it’s an assessment of the strengths and weaknesses of current as well as potential competitors.
The key is to understand what lies behind the visual representation of your competitors. How they are able to communicate their business objectives? What are the USPs that make them stand out from similar brands? Once you’ve collected these high-value insights, you can create a much robust communication strategy for your brand to be more competitive.
Listening to your target audience & interpreting behaviors
As a marketer, you’ll agree that analyzing your target audience is more important than your competitors. That’s where conversation monitoring comes in. Consider that you’re a Jewellery Brand who wants to target women. Once you know the discussions about jewellery among the ladies, it will help you sell them better with content that aligns with their requirements.
Reading comments on social media, online question-answer platforms like Quora, latest blogs and trending topics, etc. will help you to identify what are the hooks to influence a potential customer to perform Call-to-action. The buyer personas created after these interpretations will be more specific and sales-oriented.
Identifying the best approaches for targeted communication
It isn’t necessary what works for another brand should also work for yours. You need to brainstorm over multiple heuristics for determining the online marketing campaigns. Every business is unique and it has a unique brand narrative. You’ll have to mould your targeting strategy according to the best approaches identified through competitive analysis and conversation monitoring.
Before you start picturing the narrative for your brand, you must know that your customers are smarter than you. Even a well-crafted story explaining the emergence of your brand to tackle market requirements may not compel them to buy your products. Thus, your brand narrative should stay ‘true’ to your target audience with the uniqueness that comes within your organization, the people and your vision.
Getting everything you want from Social Media
Social Media is the modern world’s word-of-mouth marketing. As discussed above in conversation monitoring, it can provide you with substantial insights to strategize for your social media marketing. You’ve an idea that has similar objectives as compared to another brand. You can easily create a case study to assess every activity and then plan your own with a better approach.
One of the most crucial insights is to find the best posting time on social media. You’ve had an earlier campaign that brought you the desired results. It won’t be of any use if you didn’t document the sequence of activities, content & design aspects, demographics targeted and more importantly – the most favourable time when audiences performed a call-to-action.
Blending Digital Analytics & Consumer Insights
Most of the online platforms provide their own analytics where you can gain essential insights about how your campaigns performed. On the other hand, you can easily study your customer’s behaviour through click-through rates, bounce rates, click-to-open rates, etc. When you blend these insights together, you’d be able to know where you were lacking and how you can target better.
Digital Marketing Metrics are the key-performance-indicators of your strategy put to work. Be it email marketing, SEO or even mobile marketing; re-strategizing on the basis of analytics is what improves the whole process for every next campaign. However, you can analyze deeper insights using some of the paid tools. Plan ahead, aim your target, and you’re more likely to get good news when measuring the success of campaigns.
Pay close attention to your online marketing activities, even if it’s about a mere comment on your organic post. ROI-focused digital marketing is all about learning from insights and hitting the bull’s eye precisely. The internet is a melting pot of leads. All you need is to realize the promise of social media networks and search engines.