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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Digital Marketing along with digital innovation

Digital marketing along with digital innovation

Whether you are deciding to jump into the market of digital marketing or you are already immersed in it, the whole scenario is very much versatile now. It is changing with every passing day and it is always better to stay innovative and be with the trendiest things. It is not only good for your future but it will also allow you to benefit from the clients and vice versa. If you are feeling that you are lacking behind others, no worry as freshening up your knowledge centre is a great thing to get acquainted with the latest innovations in any sphere of your life. Let’s have a look at some of the things that will surely make an impact for both B2B and B2C businesses in the long run.

Innovative and integrated content

It is a known fact that dynamic contents are always accepted in mass size. While speaking about dynamic content, video is something which has reigned the scenario for a while in the past and is still doing so. It is believed to expand in the coming days. Not only it is taking a more interactive turn but it is also being used in various ways too. According to the latest stats:

  • 90% of the social media users spend one hour in a week watching video.
  • 85% of the people worldwide watch their videos online.
  • Landing page videos can boost the conversations by 85%.

Integrated content has the capacity to be memorable and personal at the same time. It is becoming more evident with the advancement of AI-based platforms. AI allows you to get to know more about your customers and thus you can grab more of the market.

Getting personal and close

People who spend hours of their time on social media reading texts have tired eyes. Therefore, it is important to create personalized contents juts for the sake of gathering more customers. You can make your digital marketing tactics much more personalized and interactive with these:

  • Professional video and graphics: Video is regarded as the most interactive medium of all. It has the power of interactivity. So, it might be worth spending on some high-end cameras for the best content.
  • Augmented reality: Augmented reality is the future of digital marketing. You can let your customers create their own world of imagination with your services and thus develop a whole new world of potential clients.

 

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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