Establishing the relation between digital marketing and corporate strategy

Corporate strategy and digital marketing work out really well with each other. The strategies that you apply for growing in the market are collectively known as corporate strategy. There are so many strategies out there and each differs from one another. Also, it might happen that a set of strategies is not at all applicable for you. Therefore, you need to assess your digital marketing skills and needs and then employ the corporate strategies for your growth. When you are trying to prioritize a particular strategy for your digital marketing, you need to have a crystal clear understanding of your product, business and demographics.

Staying nimble

Digital marketing is all about trial and error. You need to try out various options before finalizing one. So, in order to be nimble, you need to flexible with the upcoming trends in the market. You also need to cope with the shifting patterns of SEO. Being flexible with the time when to get the reports of progress and where you can have an effective discussion about the same is also required. For selecting a successful strategy, you need to keep monitoring continuously and also adjust to the errors.

Understanding your customers

None of the corporate strategies regarding digital marketing will be effective unless and until you have a clear grasp on who buys your services or products and why. You can improvise your tactics of digital marketing by understanding your customer base. You can easily form an information filled database of your audience by:

  • Defining all the channels that fit the demographics of your business.
  • Understanding the requirements of your customers and trying to solve their problems.
  • Being aware culturally.
  • Having unique corporate relationships with influencers.
  • Using highly developed tools for automation of your audience targeting and segmentation.

Generate leads with content

One of the finest tools that can generate leads is effective content. The most tried and tested method for generating leads is well-written content. Not only writing but the distribution of the same is also of utter importance. It has been found that bloggers have 15% more chances of having a positive ROI. This is mostly because they post attractive contents. So, in order o turn your traffic into effective leads, you need to start posting relevant contents. It needs to have relevance to the needs and problems of your customers.

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Corporate strategy and its great importance

A corporate strategy supports the outcomes that a company has to offer along with several other methods that will help a company to do so. In simple words, corporate strategy is the ultimate thing that will ultimately determine the scope for the activities of a company. It also helps to a great extent for supporting the goals of the company. In turn, such strategies limit the individual initiatives of a company which fall under the authorization to select the initiatives with a limit on the resources. The importance of a corporate strategy is an effective means for allocating the resources of a company along with improving the competitive position for a company.

Helps in establishing expectations

Companies convey their corporate strategies to the various individual business units which in turn drive the performance and also establish expectations for both the internal and external stakeholders. The corporate objectives focus mainly on the prime key areas such as profitability, productivity and market standing. A company needs to set up some measurable objectives for achieving all of these. It is with the help of the expected outcome that the stakeholders properly align their activities in accordance with the goals and also to make sure that a strategy works out in the perfect way.

Helps in improving the sense of competition

The corporate strategy that you choose has a lot to do with the growth and performance of a company. A strategy helps in deciding various steps for a business with the help of which it competes in the corporate market. It also helps in determining the activities with which the competitive position of a company can be maintained.

Allocates the resources for a company

With the help of corporate strategy, a company can easily allocate its resources for the best business opportunities in terms of investment. While setting up corporate strategies, a company starts by assessing its performance along with several other business units. The company will divest its assets and revise its allocations depending on the findings of its performance. The team leaders generally allocate the resources of a company depending on the desired outcome of every business unit’s opportunities.

Helps in adding shareholder value

Depending on the strategies of a company, the business units can easily improve the value of the investors much beyond the total sum of its assets. By making strategic choices, a company can allocate its resources and thus can improve the value of the company for the shareholders.

 

Become successful with your own blog

With the changing scenario of the job sector today, people are turning towards something innovative in their own way. Most of the youngsters are not a supporter of 9 to 5 jobs. According to the recent surveys, 90% of the people are of the notion of starting their own blog just for being their own boss. The blog will indeed make you your own boss, but that is not that easy. A blog is something where you will be sharing your own ideas and concepts by writing various posts. You can start your own blog on any imaginable topic, it can be on pet culture or on food too. Blogging does not come with any boundaries. That is why it is regarded as a platform where young people can share their voice with the whole world and also earn from that.

Perks of blogging

With blogging, you can connect personally to your audience, and you can communicate with them from a personal perspective. Blogging makes audience interaction an easy game. You can share your ideas with all your like-minded audience. In fact, you can build up a structure of trust with them. When you have enough confidence from your audience, you can start earning money from your blog.

How to start a blog?

Before getting ahead with your own blog, make sure of the idea that why do you want to start your blog. You need to have a clear idea on your mind that you are doing it for this specific purpose. Make sure that you do it seriously if you really want to succeed. Blogging comes with various steps:

  • Pick up your blog name: Your blog name is the thing that will attract people at first. You can choose your blog name from the niche of your bog or right from your hobbies or life experiences. Make sure that your blog name is descriptive enough.
  • Make your blog visible online: The next step is going online and reaching out to the world. You can get a wide array of website choices for your blog.
  • Customising: Uniquely customise your blog. Avoid going cliché and try something unique with the design and presentation.
  • Content: This is the most critical aspect of a blog. You need to share something unique that attracts people. Try to share as many images or videos you can. Always try to be interactive.

Strategy Friday

Hello and welcome back to Strategy Friday, the place where i discuss strategies theories for organisations.

Today topic is about the theory developed by professor Micheal Porter from Harvard Business School.

This theory is used widely by organisations as a contrast to the Blue Ocean Strategy.

I will discuss the Blue Ocean Strategy in my future post, but just keep in mind, that Blue Ocean Strategy is more about how to compete than what to compete.

Micheal Porter in his theory goes and analyses the functions of businesses from the Macro level, seeing the forces which influence the marketplace, and went to expand his theory also to Countries.

The main forces influencing business are: Supplier Relations, Buyer Power, Possible Product Substitutes and the Threat of new entry from other businesses, all influencing the competitive marketplace.

A useful picture is provided by Mindtools in their website, in which define the strategic tool and what to analyse.

Classical example of this analysis is used in the airline industry, however, is applicable also to other industries such as the mobile phone industry, where the supplier relations is the whole manufacturing supplier relations, thus for Apple can be the supply of chips from Foxconn, the threat of new entry is high as businesses enter the market developing new products constantly, the buyer power is also very high as, purchase is seen almost as a commodity in which one phone does not vary a lot from others, but to contrast that, Apple has a large brand conscious clientèle and to conclude the competitive landscape, is very competitive, thus having all functioning like a chain in which the gears run very fast.

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