The importance of defining three strategies
– It’s pretty easy to see the importance and the value of building out your online presence. With the majority of online marketing being self-service, it’s easy to dive right in, and honestly, many businesses are in such a rush to take advantage of the opportunity that they fail to build out a proper strategy.
Being digital for the sake of just having a presence in these channels is not the answer. The key is to build out a dedicated strategy that results in a strong return on investment. Without investing time in a strategy, you’re not only going to miss great opportunities, but you may find your business left behind. Because online marketing is so broad, it’s easier to look at your overall strategy as three distinct strategies that all share a common goal. These strategies cover your business, your customer and your marketing.
Now, I’ll dig deeper into each of these in the next few movies. My goal is to help you develop a cohesive online marketing strategy. And to do that, you’ll need to understand the plan for your business at a high level, how you intend to be perceived by your market, who that market actually is, how your customers are using digital technology, and what channels you’ll build into. Having a clear and well-thought-out strategy keeps you focused, and it serves as your roadmap as you explore new marketing channels. Now, there isn’t a one-size-fits-all solution here.
Every business needs to create its own strategy, and that makes sense. If you’re selling custom t-shirts to sports fans online, your plan will bear little resemblance to a local restaurant. Your strategy will vary, but the focus is always to create shared value. Shared value is when the goals of your customer overlap with the goals of your business. Your entire marketing strategy should be built with shared value in mind. Forget for a moment that you’re selling a product or a service and instead adopt the mindset that you’re selling an experience. So, as we look at our three distinct strategies, I want you to focus on building each of them out with the idea that at the end of the day you want to have a shared value experience, and that experience will contribute to your marketing success.