Why You Need an Online Marketing Strategy

In today’s world, the line between marketing and sales has blurred. Marketers now handle the entire funnel, from initial interest to purchasing a product to signing up for email lists and following up with marketing materials.

This trend presents new challenges – like the ever-present mobile landscape – as well as exciting opportunities. With the ability to target consumers wherever they are, marketers can follow, connect, and retain interest with mobile users, effectively doubling the size of their audience.

To ensure you’re taking advantage of this growing market, you need to develop an online marketing (OMS) strategy. Simply put, an OMS strategy is a holistic plan of action that incorporates all of your digital marketing efforts. It sets goals, benchmarks, and evaluates the performance of your campaigns to determine if you’re reaching your customer base.

Let’s take a look at why you need an OMS strategy and what you should include in your plan.

The Growing Mobile Population

If you’re reading this, I assume you’re already well aware that mobile devices are a major part of our daily lives. According to Google, 83% of American adults use mobile phones, and 56% use both phones and tablet computers.

The trend is clear – consumers are relying more heavily on mobile technology than ever before, and this is creating incredible opportunities for marketers.

Thanks to the rapid expansion of mobile broadband, consumers have more reasons to stay connected than ever before. With more people staying at home due to social distancing, more consumers have turned to digital devices to keep in touch with friends and family. As a result, marketers can expect to see an increase in video views and engagement on digital platforms.

This is a golden opportunity to engage with customers wherever they are, whenever they’re most likely to be receptive to your brand. With video consumers spending 4.2 hours per day on average on their phones, according to Cisco, marketers should harness this ability by creating engaging video content.

You should also consider creating content for the smaller screen as well. With so many people trapped at home, having a mobile version of your site can allow users to explore your offers and services without having to leave the comfort of their living rooms.

The demand for mobile-optimized websites has risen, with almost half of American adults using them. In 2019, 40% of consumers started their research online on a mobile device, and 80% of Google searches happen on mobile phones.

Increased Video Consumption

Last but not least, let’s not forget about the ever-increasing importance of video in consumer’s minds. In the United States, video consumers spend 4.2 hours per day on average, according to Cisco. That’s more time than they spend reading text-based content and more than double the time they spend on social media.

This is an important stat to remember as marketers looking to engage with customers through video content. According to HubSpot Blogs research, only 23% of consumers have watched an explainer video to better understand or learn about a product or service. This number increases to 42% when you factor in those who’ve watched such videos to get a better feeling for a product or service.

However, the most crucial factor regarding video consumers is that they prefer brand-sponsored videos to independently produced ones. This is called “brand safety,” and it suggests that businesses should partner with content creators to spread their messages via short-form video content.

The Growing Role of Analytics

Keeping up with all of this information can be quite the task, but you can use analytics to your advantage. According to HubSpot Blogs research, only 19% of consumers have read an explainer video to better understand or learn about a product or service. This number increases to 33% when you factor in those who’ve watched such videos to get a better feeling for a product or service.

However, with so many different platforms available for marketers to distribute their content, it can be quite the challenge to gain traction and drive action. To ensure you’re reaching your intended audience, you should consider using analytics to track the effectiveness of your campaign.

This brings us to our next point: analytics should be a fundamental part of every marketer’s toolbox.

The Importance of Measurement

Measuring the performance of your online marketing strategy is an essential part of it. According to HubSpot Blogs research, only 14% of consumers have engaged with an explainer video to better understand or learn about a product or service. This number increases to 19% when you factor in those who’ve watched such videos to get a better feeling for a product or service.

Similarly, HubSpot Blogs research found that only 23% of consumers have read an explainer video to better understand or learn about a product or service. This number increases to 33% when you factor in those who’ve watched such videos to get a better feeling for a product or service. This is why it’s crucial to track the performance of your online marketing strategy using analytics.

This brings us to our final point: you should have a defined clear set of metrics to track the performance of your OMS strategy.

Goals And Benchmarks

Setting specific goals and benchmarks for your OMS strategy is quite the task, but it’s an essential part of developing a cohesive plan. According to HubSpot Blogs research, only 7% of consumers have watched an explainer video to better understand or learn about a product or service. This number increases to 12% when you factor in those who’ve watched such videos to get a better feeling for a product or service.

However, it’s quite clear that most people are not yet exploiting the various opportunities presented by the pandemic. This is where you come in: by setting measurable goals and benchmarks for your OMS strategy, you can determine whether you’re making the right strategic moves to propel your brand forward.

As part of your planning process, you should consider reviewing the key performance indicators (KPIs) of your campaigns. These are the metrics that can help you determine the effectiveness of your overall strategy. For example, did a paid advertising campaign drive traffic to your website? Did a social media campaign result in more sign-ups for your email list?

Once you’ve established the KPIs for your paid advertising and social media campaigns, you can determine their effectiveness relative to your goals.

The Importance of Reviewing Your Strategy

If you’re reading this, I assume you’re quite familiar with the concept of developing a marketing strategy. However, what you may not be doing is reviewing and refining your strategy on a regular basis.

Marketing strategies evolve along with the industry, and it’s quite clear that the way we interact with brands has dramatically changed due to the COVID-19 pandemic. As a result, it’s quite natural that your strategy will need an overhaul.

Luckily, you can use the review process to your advantage and establish the baseline for your next strategy. According to HubSpot Blogs research, only 14% of consumers have watched an explainer video to better understand or learn about a product or service. This number increases to 19% when you factor in those who’ve watched such videos to get a better feeling for a product or service.

However, like any good strategy, your 2020 marketing plan should incorporate lessons from previous campaigns and incorporate feedback from customers.

Analyst Tools

While we’re on the topic of marketing strategies, let’s not forget about the various analyst tools that exist to aid marketers in the tasks at hand. These tools can be quite the asset to a marketer’s toolbox, especially during this unprecedented time of crisis.

To start, you should consider using YouTube Analytics to track the performance of your videos. Using this tool, you can determine the amount of views, likes, and comments your videos receive. You can also use this tool to discover the key themes that attract your target audience.

Then, there’s Live Chat as a service (which some have referred to as “robot therapy”). This is a tool that enables online businesses to have real-time customer care through virtual assistants like Skype®.

Further, there are various software products that offer lead nurturing, automated email campaigns, and content recommendation engines. These are all important tools that can help businesses of all sizes gain a better understanding of their customers’ needs.

In the next section, we’ll discuss some of the other important aspects of a well-rounded digital marketing strategy.