In this post you will know Phases of Digital Marketing & Strategic Marketing.
Digital Marketing: Digital Marketing can be termed as a marketing strategy that is used to promote a product and developing an influential relationship with the customers via all the digital and offline sources.
Digital marketing is creating awareness about the product using digital channels.
Digital channel uses the internet and the methods which are used by digital marketing are SEO, SEM, E-commerce, and Email marketing.
Offline sources use radio, SMS, and television for marketing. When we use this strategy there are three different components which are Online marketing, Mobile marketing, and Social media marketing.
This also focuses on the public likes as what is trending and how it is to be delivered to the consumer.
The four phases of digital marketing :
Digital marketing are the marketing in which we sells the products and services online for targeting more audiences.
Digital marketing an online marketing which are helps in which we generate more return on investment (ROI).
Examples of digital marketing are SEO, SEM, Affiliate marketing etc Communication by using digital media such as blogs, ads, website. Marketing are done by using media such as blogs, ads, etc.
It helps in supporting of marketing operations. It also helps in generating revenues. It reaches to more and more audiences. Banners are used to create an impression of the product.
Advantages of Digital Marketing :
- Its highly cost-effective.
- It allows to connects more and more customer.
- It helps in increasing brand locality and driving sales.
What is strategic marketing?
Strategic marketing is a method through which an organisation differentiates itself from its competition by focusing on its strengths to provide better service and value to its customers.
In a nutshell, the goal of strategic marketing is to make the most of an organisation’s positive differentiation over its competition through the consumers’ perspective.
The implementation of strategic marketing involves three questions, which include:
- Where to compete;
- How to compete;
- When to compete.
Phases involved in the strategic marketing planning process:
Planning phase: In this phase, the various aspects of an organisation, such as its strenghts, weaknesses and technology are assessed. The overall state of the organisation is also presented to the management. This phase comprises of four components, which include:
SWOT analysis: This method analyses the strengths, weaknesses, opportunities and threats related to the organisation. The results of this analysis help in developing a strategic marketing proposal for the organisation.
Marketing mix strategy: Once the SWOT analysis has been conducted, a proper marketing mix strategy is then prepared. Marketing mix strategy consists of combining and analysing a variety of components that help in strengthening a company’s brand and in selling its products or services.
- Set product and marketing goals: Setting product goals is one of the best methods for obtaining success with new products. The product should be marketed in such a way that it becomes indispensable for the consumers.
- Four P’s of marketing: Once the product goals are set, the four P’s of marketing; price, place, product and promotion strategy, come into the picture.
- Implementation phase: The strategic marketing plan is implemented in this phase, and it consists of four components:
- Collecting resources: raising the capital required to develop and promote new products;
- Marketing hierarchy: A marketing hierarchy should be put in place to ensure the proper implementation of plans;
- Formulating schedules: Preparing schedules in which specific time periods are allocated to tasks;
- Executing the plan: this needs to be in an extremely efficient manner.
- Evaluation phase: In this phase, the plan is crosschecked with the product goals to determine if they are aligned. If that is not the case, the marketing team will have to edit and improve the plan until there are no deviations between the plan and the goals.
Some of the guidelines that will help in ensuring your strategic marketing planning process is a success include:
- Set goals that are achievable and can be measured;
- Prepare the plan after conducting a thorough market and competitor analysis;
- The prepared plans must be concise and easy to understand;
- Ensure that the plan and set goals are in sync with the requirements of the consumers.
While preparing a strategic marketing plan, it is important to be aware of some of the issues that may arise. These include:
- Lack of skilled workforce;
- Assuming the requirements of the consumers without conducting a thorough research;
- Changing demographic of the consumers;
- Management issues;
- Coordination problems;
- Incorrect SWOT analysis;
- Issues in conducting marketing research;
- Confusing marketing feedback obtained;
- Budgeting issues.
Read Also: Types of Digital Marketing
The importance of strategic marketing in an organisation:
- Helps in evaluating the current environment: Strategic marketing helps in assessing the positioning and performance of an organisation. It is important to know what resources are at the disposal of an organisation at any given time. The data that is collected helps in understanding how well an organisation is performing within the overall competitive environment. This will also help the organisation in planning for future strategic marketing activities or plans.
- Helps in establishing clear marketing objectives: Having a strategic marketing plan in place helps in establishing achievable marketing objectives. The objectives should have a specific time-frame and should be measurable.
- Streamlines product development: Strategic marketing helps in creating products and services that provide the organisation with high profits. This is because strategic marketing starts off by conducting a SWOT analysis of the organisation, a market analysis of the consumers and the existing trends in the market. This information is then used to create the optimal products and services for the consumers.
Difference between strategic marketing and a marketing strategy
- Strategic marketing is a method through which an organisation differentiates itself from its competition by focusing on its strengths to provide better service and value to its customers.
- This is a planning process and it involves three phases
- This is related to the management level as it involves determining budgets, allocation of resources and improving product quality.
- This covers the marketing goals of the organisation as a whole and includes all products.
- This a process that is put in place to achieve organisational goals.
- Strategic marketing analyses various factors such as organisation performance, competition environment, competitors and demographic behaviour of customers in order to achieve organisational goals.
- This is an organisation’s plan to target people and convert them into consumers of the organisation’s products and services.
- This plan is an implementation of a predefined strategy
- This strategy does not involve the higher management, as it only includes creating marketing strategies for a particular product or service. The strategies could consist of a promotional plan, distribution and price of the product.
- This is restricted to the marketing goals and strategy of a single product or service.
- This is a part of one of the functional strategies that help in achieving organisational goals.
- A marketing strategy focuses on the products and services of an organisation and their positioning in relation to attracting customers.