Having completed the first week of the course, I have concluded to the five most essential points of Strategic & Digital marketing.
Point 1. Conducting a SWOT analysis in digital marketing has many benefits
A SWOT analysis is an integral part of a company’s strategic marketing planning process, because it provides a good all-around view of the company’s current and forward-looking situation. The strengths (S) and weaknesses (W) sections provide a look at the company’s current position. The opportunities (O) and threats (T) sections help the company project possibilities and challenges going forward. Each of these four sections has specific advantages to the overall analysis.
Point 2. SMART planning can make the difference between a greatly effective marketing strategy and a failed one.
To ensure success and buy-in within your business, create your set of retention objectives around the S.M.A.R.T principle (specific, measurable, achievable, realistic and timely). Consider sales figures from prior years or months to set the goal for an upcoming time period.
Point 3. Enhance Your Digital Capabilities With The Digital Business Maturity Model
The Digital Business Maturity Model will help your company understand its current digital capabilities and competencies and envision a digital future that is tailored to your vision and goals.
Level 0: Non-digital – Level 1: Web presence, broadcast model – Level 2: Two way communication, “open” philosophy E-business processes – Level 3: Fully digital – Level 4: The Future
Point 4: Understuding the buyer’s journey
The buyer’s journey is an important framework for digital marketing strategy. ZMOT is the most powerfulmoment in a customer journey to purchase. This is because ZMOT shapes the consumer’s purchase decision.
There are four moments of truth for a product:
Stimulus: is the moment which occurs when the customer is first exposed to your brand via an ad or piece of content (blog, infographic, video, podcast etc).
Zero Moment of Truth: is the moment which occurs after the customer has been exposed to your brand, but before a purchase is made.
First Moment of Truth: This moment occurs when a customer first encounters a product on your physical store’s shelf.
Second Moment of Truth: This moment occurs when the customer actually uses the product.
Point 5. Branding gives a business an identity.
Brand equity is the value of a brand that is well-known and conjures positive associations, which helps it remain relevant and competitive.