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How to build a successful marketing strategy?
This document provides guidance on digital marketing strategies and tactics. It discusses testing different promotion approaches such as evenly spreading a budget across all articles versus focusing most funds on the top-performing pieces. The document also outlines steps to measure market size and identify buyer personas. Additionally, it provides tips on setting goals and timelines for short and long-term strategies. Marketing channels, typical costs, and testing approaches are examined to help optimize efforts.
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How to build a successful marketing strategy?
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- 2. ABOUT ME Edit DitteSzabó CEO @Kider & Digital Marketing Evangelist (editditte@gmail.com) 10+ YEARS EXPERIENCE IN DIGITAL MARKETING 7+ YEARS PRACTICE AS TRAINER AND PRESENTERForbes 30 under 30 CX Network 30/30
- 3. There is nosilver bullet in marketing (either).
- 5. You have amarketing budget of $1000 and 10 articles that you are going to promote. • Traditional way: $100 to each article, an even spread, ‘maximising’ the promotion for each one. • Growth Hacking: only put $10 onto each article, and the one or two that gain the most traction should get the remaining $900 split between them. WHAT’S GOING WELL – CAN GO VIRAL!
- 6. Target Buyer Persona STEP 03 Goals shortterm (3m) mid-term (6-9m) STEP 04 External Analysis Market Competitors STEP 01 Internal Analysis Branding Channels Actions STEP 02 Actions short term mid-term STEP 07 Strategy short term mid-term STEP 05 Channels short term mid-term STEP 06 STEP 07 Measurement And Optimisation
- 7. TAM SAM SOM – Total AddressableMarket – Serviceable Available Market – Serviceable Obtainable Market SIZE DOES MATTER: HOW TO MEASURE IT?
- 8. 1. Identify thedata you need. 2. Search reports and studies of the sector that contain the data you are looking for. 3. Collect data and statistics from the sector (number of users, average ticket, growth, average recurrence, billing in other countries, etc.). 4. Cross some data to get the one you are looking for. 5. Factorize to get an approximation to your data through data from other sectors or markets. STEPS TO MEASURE THE SIZE OF THE MARKET
- 9. ❖ Who buys? ❖What do they want/need to buy? ❖ How do they buy? ❖ Where do they buy? ❖ When do they buy? ❖ Why do they buy? QUESTIONS YOU NEED TO ANSWER…
- 10. Promotion Promotion Product Price Place Promotion Awareness Consideration Conversion Loyalty GOALS MARKETING MIX Longterm Short / Medium term Short term Long term TERM RESULTS THE GOALS YOU SHOUD CONSIDER
- 11. • Your offer:What you will sell? – Elevator pitch • Your value proposition: Why people would buy it? • Your vision: Where you see your business in 5-10 years time? • Your mission: Why you come to work every day (what to do to achieve your vision)? Start with WHY? Simon Sinek: https://www.youtube.com/watch?v=IPYeCltXpxw THE OWERALL STRATEGY
- 12. CONTENT ANALYTICS (MARKETING) DATABASE DIGITAL ADSSOCIAL MEDIA OWNED CHANNEL MANAGEMENT PAID EARNED OWNED MARKETING AUTOMATION DSP PUBLISHERS SEARCH ONLINETV MOBILEADS BLOGS REVIEWS FBGROUPS FORUMS COMMUNITIES SOCIALADS WEBSITE WEBSHOP EMAIL MOBILE BLOG SOCIALMEDIA AMBASSADOR THE CHANNELS YOU SHOUD THINK ABOUT
- 13. THE COST OFEACH ACTION Benchmarks ER CTR CONV PR artickle 1% 0,20% Display channel 0,10% Facebook post (organic) 2% 0,45% Instagram post (organic) 23% 0,35% Facebook video 4% 0,56% YouTube video 9% 2% Newsletter 25% 5% Instagram story reach 11% 1,20% Instagram ads 0,70% Facebook ads 0,90% 2,56% Google Search 3,17% 3,75% Google Display 0,46% 0,77% Organic/ Direct 5% ER: Engagement Rate, CTR: Click Through Rate, Conv: Conversion Rate • Customer Acquisition Cost or Cost of Sales: The total cost of having a paying customer or user • You have to know which is the most effective channel or channel combination • If you end up spending 300 Euros for a customer and invoice only 100 Euros, you’re doing something wrong! More details and sources: • https://www.smartinsights.com/internet- advertising/internet-advertising- analytics/display-advertising-clickthrough- rates/ • https://www.wordstream.com/blog/ws/201 7/02/28/facebook-advertising-benchmarks • https://www.webstrategiesinc.com/blog/w hat-is-a-good-marketing-roi
- 14. short-term, 3 monthsmid-term, 9-12 months Acquisition Cost Time Low High SEM SEM SEO SEOPR PR Influencers email email Display Social (free) Social (paid) Social (paid) To start and validate the first assumptions, startups usually start with PPC channels, accepting higher acquisition costs (CAC), then refine the activities, introduce new, enhance the brand and lower the CAC. (Source: Demium Startups) Social (free) MARKETING ACTIONS IN LINE
- 15. Co- Marketing (CSM) ‘A’ Brand ‘B’Brand CUSTOMER SHARING MECHANISM
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- 17. • Start withsmall and distributed campaigns (website/ landing page, social media, PPC, PR, …) • Analyse results at least two times a day (group work) • Change every second day (…or when you have enough data) • After a month, analyse the results and optimize based on that • Boost! THE BEAUTY OF TRY-AND-ERROR
- 18. IT’S DIFFERENT FOREVERYONE, BUT: • A website is a MUST, even if it’s just a landing page • Social Media marketing is inexpensive but needs a Community Manager! • Video can be effective, but be careful with the quality • Pay Per Click campaigns can be important at the beginning, but it won’t solve your problems • Finding Influencers (Thought Leaders) who will blog/Tweet/talk… about your brand is crucial • I personally love PR, because it is underutilized and you can get good results relatively cheap (although bad PR, review or analyst article can ruin your company in a heartbeat) • Events are misleading. They are expensive and yield low results. There are government subsidies to finance event participation, though… • Find your partners in crime! THERE IS NO GENERAL RULE TO FOLLOW
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