Draft your first digital marketing strategy: Part 1
Every entrepreneur's challenge at the beginning of the startup is to be able to play all the roles required to make the company work and launch a successful product. You will have to do a bit (a lot) of finance, will need to understand fund raising, learn to be sales and be good in negotiation, and do a bit (a lot) of marketing.
One of the most important things you need to start with when your product is ready to go to market is to define a digital marketing strategy. Indeed you may have the most innovative product of the year, if you don't build awareness around it, your initiative will fail.
So let me give you some basics about digital marketing and how you can start to build digital marketing for your project.
Today I will start by explaining why this is important wether you apply Lean Startup, Effectuation or any other framework to run your project. Then I will explain for you in my next articles how to draft your strategy.
It is started by the understanding of your customer journey, ie the different stages your customer will go through from the awareness to the usage of your goods or your service.
Those main stages are usually the following:
Awareness, Consideration, Purchase, Support
Some marketers will stop their customer journey at the purchase level but we need to bare in mind that it costs more to win a new customer than to keep a customer and make this customer consume additional products (upselling and cross selling).
It is important to know the customer journey because from the first step to the next, you will loose some audience. So for example you may send 10000 emails to leads, at the end only a part of them will actually read the email, and among that part only a few of them will click on the links to know more about your company or your product. Among the prospects that will go to your website, only a few will actually buy the product. This means that in order to sell your product, you will need to attract A LOT of people at the awareness stage. The more steps you have in your customer journey, the more prospects you will need.
It is important also to understand this dimension because on every stage you need to think about: "What can I do to convince my prospect to go from a stage to another one?" This is the strategy you are going to draft. Marketing is not all about just sending tons of emails and trying to get lots of followers on the social network. It is about improving the conversion rate of a lead to a customer, ie finding the best arguments to help the customer to move from a stage to another one.
If you don't have a strategy, we can all bet that you will not be efficient. In addition, you may not have the budget to run big campaigns like big corporations. It is another good reason to make a bit of strategy: you need to focus your budget on the most efficient channels.
So what are for you the important arguments to pass the customer from a stage to another one of the customer journey? And what are the tools you can use from a stage to another one to make it efficient?
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8 comments
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