What is a marketing strategy?

A digital marketing strategy is a plan for creating an online presence using tools like social media, sponsored search, organic search, and other web-based platforms like your website. According to Lavon Laurine, the purpose of digital marketing tactics is to raise brand recognition and draw in new clients.

What is the importance of marketing strategy?

Sometimes eCommerce owners and marketers get bogged down in the minutiae of bits and bytes. They lose sight of the organization's grand objectives and ultimate vision. They lose sight of the intended market and the primary problems that their solution addresses for the consumer. When that occurs, the particular strategies used by the company may become ineffective.

Define your brand value and offering

To ensure that your brand's core values are compatible with your target audience and current clientele, industry trends, the competitive landscape, and the service or product you provide, you must first define your brand's core values.

Why do you need a marketing strategy?

According to Lavon Laurine, a marketing plan aims to expand the business by attracting, converting, and keeping new clients. So if your firm values growth, you need one.

There must be businesses out there that don't require one. Time, money, and resources are typically the key problems.

One of the major issues I encounter with smaller businesses is that the CEO and leadership team mistake marketing for sales or advertising. They frequently have a poor track record with marketing success, so they can underestimate it.

How to Create a Digital Marketing Strategy

1. Create buyer personas.

2. Determine your objectives and the digital marketing equipment you'll require.

3. Analyze the digital resources and channels you already have.

4. Plan and audit your campaigns using owned media.

5. Determine your objectives and the digital marketing equipment you'll require.

6. Observe and report.

Types of marketing strategy

Although there are many various marketing methods, including social media marketing and content marketing, Ansoff's matrix contains the most fundamental ones for market expansion. Lavon Laurine identifies these four tactics as follows:

• Marketing Encroachment

• Product creation

• Market expansion

• Diversification