Digital Strategy

Key issues to review

1. Mindmap of key issues and deliverables in a digital strategy

We have created this summary mindmap that can be downloaded by Expert members as a clickable PDF and edited as a Mindjet Mindmap.

Fast Start - Digital Strategy Process

2. Prezi visual summary of process featuring the templates for context

3. Detailed checklist list of advice on each issue 

These notes can also be read in the downloadable version of the Mindmap.

Creating a Digital Strategy
1 Define Opportunity
1.1 1. Baseline digital capabilities and performance

“If you fail to plan, you plan to fail”. 

 

You plan to succeed with digital channels if you have:

    •    SMART objectives based on marketplace analysis

    •    Strategies aligned with objectives 

    •    Integration between online and offline activities

    •    Sufficient allocated resource

  

Output(s)

 

Digital marketing capabilities audit. There are two options here. Basic and Expert members can complete our interactive healthcheck.

 

Expert members can complete a spreadsheet-based capability audit

1.1.1 Audit of company digital capabilities (healthcheck)
1.1.2 Review commercial contribution of digital marketing
1.2 2. Review marketplace

This is a situation analysis reviewing how your customers use digital channels integrated with traditional channels.

 

Output a: A marketplace map summarises customer types, customer search behaviour, key influencer types and intermediaries 

 

Output b: Create a digital channel SWOT in TOWS format to summarise the key issues you need to manage for digital channels. It’s available as part of the Digital Strategy toolkit download.

 

The TOWs format enables you to brainstorm and select strategic options. 

1.2.1 Customer analysis
1.2.2 Influencer analysis
1.2.3 Competitor benchmarking
1.2.4 Marketplace PEST analysis
1.3 3. Define Vision

Every company is on a journey to improve their digital competence – it will take more than a year and will be ongoing. Your vision should highlight the benefits digital transformation will deliver to the customer and the company summarised using top-level goals with the 5Ss.

 

Output: Summary of vision or defined as 5S

1.3.1 Review and communicate need for digital strategy
1.3.2 5S top-level brand transformation goals
1.3.2.1 Sell
1.3.2.2 Speak
1.3.2.3 Serve
1.3.2.4 Save
1.3.2.5 Sizzle
1.4 4. Set SMART RACE objectives

Specific commercial objectives from digital channels should be set based on quantitative modelling of direct online sales (online revenue or profit contribution) and indirect (offline revenue contribution).

 

Output: A key part of summarising strategy – a table aligning SMART RACE objectives with strategies and KPIs to be tracked 

 

A conversion-based channel model is recommended to make them quantitative.

1.4.1 Customer demand analysis
1.4.2 Revenue and lifetime value models
1.4.3 Conversion-based budget model
1.5 5. Create actionable dashboards

Your analytics system should be customised so that you can track KPIs through goals with values attached to them.

 

Output: A summary table of RACE KPIs to include on dashboard, covered in the strategy qualification and Delivering Results guides. Will form custom reports in Google Analytics as described in our GA guide. 

1.5.1 Customise analytics
1.5.2 Create dashboards
1.5.3 Defined review process and responsibilities
2 Set Strategy
2.1 6. Define Segmentation and Targeting

Digital channels give new opportunities to target niche audiences with existing or new propositions. 

 

Priorities for targeting markets and audiences should be defined. 

 

Output: Table summarising targeting options with different online media channels – Paid-Owned-Earned. The digital strategy course workbook has a summary of key approaches

2.1.1 Market selection
2.1.2 Selection of targeting types
2.2 7. Set Positioning – Online Value Proposition

The Online Value Proposition reinforces key brand messages from 7Ps and highlights the reasons why audiences should engage with a brand and be influenced to buy and share.

 

Output: Definition of OVP

 

You can read about this in the strategy section of our 7 Steps Guide to Digital Strategy.

2.2.1 Core brand messages and personality
2.2.2 Online marketing mix
2.2.3 CXM requirements
2.2.4 Mobile marketing proposition
2.3 8. Business case and budget

A business case and budget defines the internal resource (head count), external agency resource and capital Expenditure.

 

Output: Business case / cost benefit analysis and budget for activities.

2.3.1 Business model
2.3.2 Define resource requirements
2.3.3 Priorities for investment
2.3.4 Roadmap for digital initiatives
2.4 9. Manage digital transformation and integration

Digital transformation applies most to larger companies, it describes how they will refine their internal and external processes and workflows.

 

Output: Table summarising the 7S applied to digital marketing.

 

There is an example in our 7 Steps strategy guide.

2.4.1 Strategy
2.4.2 Systems
2.4.3 Structure
2.4.4 Staff
2.4.5 Skills
2.4.6 Style
2.4.7 Superordinate goals
2.5 10. Create social business

The plan to transform to social business is similar to that for digital transformation. 

 

We have identified it separately since Social media communications are a key part of digital transformation, indeed marketing transformation. Treating social media as a channel is ignoring its potential and importance.

 

Output: Social media marketing or social business plan

2.5.1 Review internal and external conversation
2.5.2 Define vision, performance criteria and goals
2.5.3 Set social media governance policies
2.5.4 Approaches to support RACE
3 Actions: Customer lifecycle communications
3.1 Reach
3.1.1 11. Allocate media investment

Ensure you have appropriate controlled spend of online media through budgeting for Paid-Owned-Earned media investment with a conversion-based budget model.

 

Output: Digital communications budget – available to Basic members and Expert members.

3.1.1.1 Review media effectiveness
3.1.1.2 Paid-owned-earned media acquisition strategy
3.1.2 12. Search strategy

Search marketing still gives huge opportunities to develop awareness, preference and sale for many types of companies. 

 

Define an integrated search strategy based on a prioritised gap analysis based on consumer keyphrase behaviour.

 

Output: Integrated search targeting and investment approach

 

This is covered in our 7 Steps to SEO and AdWords guides.

3.1.2.1 Implement SEO best practices
3.1.2.2 Review Adwords/PPC programmes
3.1.3 13. Influencer and partner outreach

Take advantage of online network connections by identifying key influencers and complimentary partners and then developing proactive management of these.

 

Output: Influencer or partnering plan

3.2 Act
3.2.1 14. Maximise lead generation

Output: Your lead generation plan defines:

 

     •     Key engagement devices to generate leads

     •     Key profile fields to help define customers

     •     Lead scoring to help assess customers

     •     Lead maturation processes through behavioural targeting

3.2.1.1 Define lead generation offers
3.2.1.2 Define disclosed and behavioural profiling
3.2.1.3 Implement behavioural email and display
3.2.2 15. Prioritise customer journeys (CXM)

Define conversion funnels and pathways within site design based on Top Customer Tasks and the value of content.

3.2.2.1 Define key customer journeys
3.2.2.2 Online-offline integration plan

Digital marketing often encourages the creation of silos, especially in large organisations. Integration planning will help develop:

     •     Seamless customer journeys from online to offline

     •     Co-ordination and collaboration between internal and external teams

 

See post on ROPO approach for reviewing

3.2.3 16. Optimize Content Marketing

Content is the a online asset which plays a role across RACE, so it needs to be proactively managed through a content marketing strategy or plan which sets out:

    •    Priories for content investment, for example using the Content Marketing Matrix.

    •    Scheduling content through editorial calendar

    •    Search Engine Optimisation of content

    •    Outreach to spread the word about content

    •    Analysing and optimising content effectiveness

3.2.3.1 Prioritise content types
3.2.3.2 Define content campaign calendar
3.2.3.3 Manage campaign outreach
3.3 Convert
3.3.1 17. Conversion Rate Optimisation

CRO is Conversion Rate Optimisation. Your CRO plan sets out a schedule for tests to improve to increase conversion rate and value generated via your digital marketing during customer acquisition.

 

Output: CRO plan and schedule of Experiments.

3.3.1.1 Review CRO effectiveness
3.3.1.2 Define CRO KPIs, Process, People, Tools
3.3.1.3 Manage 90 day update plans
3.3.2 18. Merchandising approach

Merchandising is traditionally an Ecommerce activity, although best practices aren’t described much.

 

We believe they are of wider relevance.

 

Output: Merchandising plan defining updates to Products, Promotions and Content to support campaigns.

3.4 Engage
3.4.1 19. Loyalty improvement

Understanding loyalty drivers through determining Satisfaction and Net Promoter Score is crucial to encouraging repeat sales and recommendations. It often has insufficient attention with the focus on Acquisition and Conversion.

 

Output: Customer Loyalty plan

3.4.1.1 Review loyalty, satisfaction
3.4.2 19. Social media strategy

As referenced in Issue 10, Social media underpins many of these other activities, so it needs an overall plan and integration with most digital marketing activities.

 

Output: Social Media Plan

3.4.2.1 Review social media engagement
3.4.2.2 Manage social media engagement
3.4.2.3 Social media governance policy
3.4.3 20. Customer email contact strategy
3.4.3.1 Review email engagement
3.4.3.2 Implement customer contact strategy

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