How to Create an Effective Marketing Strategy Online

Is it ever acceptable to put an ad on social media for free? The short answer is no, it is not acceptable to use free tools to gain marketing exposure. The longer answer is it depends on what you mean by “free tools.” There are free trials for certain SaaS products that you might consider using if you are looking for a reliable way to automate marketing tasks or if you are looking to learn from the best. In this article, we will discuss the various methods that you can use to create and execute an effective marketing strategy online.

The Importance Of Planning

If you are reading this, I assume that you are either already creating an effective marketing strategy online or you are considering doing so. For those of you who are just now discovering the importance of a fully developed marketing plan, you are in luck because this article is for you. This plan will assist you in creating a vision, objectives, and a set of measurable benchmarks to follow. If you have been ignoring the importance of a marketing plan, you should not feel bad because you are not alone. A lot of business owners and entrepreneurs are struggling with this very issue.

The first step to creating a successful marketing strategy is to develop a clear picture of what you hope to accomplish. To put it simply, you need to lay down your objectives and goals before you even begin to think about how to achieve them. If you are looking for some inspiration, you can check out any business or marketing plan that you might find useful.

The 4 Steps To Create An Effective Marketing Plan

Now that you have a clear picture of what you hope to accomplish, you can begin to think about how to go about doing so. To create an effective marketing plan, you need to follow these four steps:

Step one: Set a benchmark for your plan

The first step in the process is to set a benchmark for your plan. Setting a benchmark is important because the only way to know if you are doing well or badly is by comparing your plan to what you set out to accomplish. Some people choose to compare their benchmarks to those of others in their industry or to pre-existing plans that they find useful. Setting a benchmark doesn’t mean that your plan will be perfect, but it will provide you with a yardstick to measure your progress against. When you set your benchmarks, you also need to consider how you will measure your success; whether it’s in terms of money, sales, or traffic.

For example, you might decide that your goal is to increase your traffic by 20%. To arrive at this number, you will need to accumulate at least 200 new unique visitors per day. If you set this benchmark, you will then be able to determine if you are exceeding or falling short of your goal. If you can’t reach this number, then you might consider whether or not you are executing the right strategies to grow your traffic. Perhaps you could experiment with some A/B testing or try a high-converting sales funnel to increase the likelihood of earning a commission.

Step two: Create a vision for your plan

The next step in the process is to create a vision for your plan. A vision is basically what your plan is going to look like when it is complete. In other words, it is a picture of what your marketing strategy is going to look like when everything is said and done. It is a broad, high-level picture of what you hope to see. You can include a lot of specific details about how you plan to get there (e.g., new website design, new marketing material, etc.) but, at the end of the day, it is still a vision.

To create a vision, first you need to think about what you are trying to achieve. Consider a few different scenarios that might be helpful in achieving your goal. For example, you might want to create a vision for when you reach 1000 daily unique visitors or for when you are featured on a well-known social media platform. The point is, you should be able to come up with a variety of situations that you might find helpful in getting there.

Step three: Identify the key performance indicators (KPIs)

Once you have your vision in mind, you can begin to work on your key performance indicators (KPIs). KPIs are specific measurements that you will track to determine whether or not you are on the right track to achieving your vision. There are three types of performance indicators that you will need to consider:

  • Financial – how much money are you making and how much money are you spending?
  • Operational – this includes everything from how long it takes you to get customer support to how much bandwidth you are using.
  • Metric – what are you measuring when you measure these? For example, are you measuring the length of a call to the number of orders or are you measuring the conversion rate?

When you establish a set of KPIs, you can then use them as a way to track your progress towards your vision. You will need to review your KPIs on a regular basis to ensure that you are measuring the right things and that you are providing your team with the data that they need to know whether or not they are on the right track.

Step four: Create a set of objectives

Once you have established your KPIs, you can move on to creating your objectives. An objective is a measure that you will use as a yardstick to determine whether or not you have met your goal. To create an objective, you need to consider two things:

  • The specific benchmark that you set for your plan
  • The time frame in which you need to achieve this benchmark

To put it simply, your objective is going to be something that you can measure and track. Consider the following example:

Your objective is to attract 100 new customers per day. To set this objective, you will need to benchmark your progress along two different dimensions:

  • The number of new customers that you have attracted
  • The amount of time that it took you to reach this point

Your benchmark for measuring progress is 100 new customers per day. To track this goal, you will need to measure your current performance along two different dimensions:

  • The number of new customers that you have attracted
  • The amount of time that it took you to reach this point

This exercise of creating an objective is a critical part of the planning process because it will allow you to track your progress towards your goal. If you find that you are unable to meet your benchmark within the time frame that you established for achieving it, it might be time to either redefine your goal or find a different way to measure your success.

If you found this article valuable, you might want to read our guide to entrepreneur branding, where we talk about the importance of brand development and how to create a brand strategy.