Strategy & Planning - Course

Strategy Formulation and Plan

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Digital Marketing - Study Notes:

Factors to consider

You need to consider the following factors when selecting your tactics for implementing your digital strategy:

  • Channel value: How much value are you likely to attain from the channels you are choosing to select?
  • Effort required: How much effort is required to implement the strategy or specific components? Is this worthwhile?
  • Relation to overall digital goals and objectives: Does it link in to your overall digital goals and the purpose of your digital activities?
  • Audience habits: What channels does your audience use? How often does your audience frequent these channels?
  • Audience demographics: What is the typical age of your audience? What is their gender? Where are they from?
  • Audience context: What does your audience use digital for? How do they speak? What are they responsive to?

The tactics you eventually select to engage each of your priority audiences may differ depending upon the audience characteristics.

Calculating value and effort

Calculate the current value of each digital channel to your organization using analytics, in terms of:

  • Existing referrals: Determine the level of recommendations the organization receives.
  • Percentage of new visitors: Determine the level of new visitors.
  • Number of new leads: Creation of potential new customers.
  • Conversion rate: Prospects to customer ratio.

Calculate the effort required to implement your plan across each digital marketing channel, considering:

  • Budget
  • Personnel
  • Available content

It is important to compare the value of each channel to the effort required to judge which channels represent ‘quick wins’.

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Satarupa Banerjee

Satarupa Banerjee holds an MBA from Cranfield University and an MSc from University College of Science and Technology. She has extensive experience across numerous industries including insurance, retail, healthcare and banking. Currently, she heads Direct Marketing Products in Direct Line Group where she has delivered several CRM campaigns. In the past she has also held roles as Customer Value Strategies Manager, Change Manager, and Sales Performance Manager.

Satarupa Banerjee

Data protection regulations affect almost all aspects of digital marketing. Therefore, DMI has produced a short course on GDPR for all of our students. If you wish to learn more about GDPR, you can do so here:

DMI Short Course: GDPR

The following pieces of content from the Digital Marketing Institute's Membership Library have been chosen to offer additional material that you might find interesting or insightful.

You can find more information and content like this on the Digital Marketing Institute's Membership Library

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ABOUT THIS DIGITAL MARKETING MODULE

Strategy Formulation and Plan
Satarupa Banerjee Satarupa Banerjee
Skills Expert

This module focuses on using strategic planning to drive marketing activities that will enable a business to win a competitive advantage. It covers assessing internal capabilities and addressing skills gaps, benchmarking, information gathering, SWOT analysis, evaluating digital channel tactics, and strategy implementation. It also covers documenting a digital strategy using SMART criteria and knowing how to evaluate the effectiveness of a digital strategy using KPIs, targets, and marketing analytics.

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