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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Innovation Management #3

Today’s post goes and discuss various technique to stay innovative for corporations.

The easiest method is via brain storming (mind mapping) ideas, the second one is via the idea box.

Both these techniques are better explained in an ebook called: Thinker toys

These techniques are easy to draw than to be explained.

Plenty of material can be found on the internet.

Mind mapping consist in using a blank paper and writing in the middle the concept, or the idea researched, and then connect by lines around it all connections that come to mind, for example, in purchasing a car, the idea is to go and look for all the issues that can arise when buying it.

From this start then is to go and draw connections also with the concept that for outsiders maybe don’t make sense, but for you, the painter of the map maybe easy understandable. There are plenty of software and tools the helps in creating mind map, however nothing beats the original Tony Buzan book which draws also on cognitive science theory. In fact is suggested that when drawing lines or connections, different colors are do be used.

The second approach for idea generation is the idea box.

This is explained in thinker toys as a method which exponentially increases the chances of getting good ideas to the consumer.

Last but not least I’m going to introduce the term of lead user method.

Lead user method is a technique explained in innovation management by Harvard business school.

This technique goes and explains that technological advancements are usually achieved not always by the manufacturer of goods, but mostly by the lead user.

This allow for new products to be developed in collaboration of a network of experts which cooperate in the development of new tech.

This goes hand in hand with the explanation of the S curve, a curve used in innovation management to explain how a new product is marketed to various market segment according to their own skills and expertise.

Innovation Management #2

Creating Market Space

In today’s post, I am going to discuss of a technique used in Marketing and Corporate Strategy which is adoptable to Innovation Management.

This technique is called value curve analysis.

By analysing what is the function and emotion which are targeted by competitors, is possible to target new market and create space for new nieches.

This tool is very practicable, although is difficult to explain, there are plenty of example of companies using this strategy, and is widely explained by Harvard Business School.

An example is the chart provided in personal finance software in the 80s vs pen and pencil use for personal finance calculation.

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the main point to describe is the there are key point into analysis:

This are the points:

Remove the points taken for granted.

Diminuish the factors below industry standard.

Increase the factors above industry standard and create factors which the industry does not offer.

The main key take aways are that is important to look at what competitors offer in the industry, look what buyers are willing to spend money on, look on substitutes in terms of products and services, target emotions and functionality, look across time horizon in following current trends.