Do you own or manage a small or midsize business? If so, it’s vital for you to have a media strategy.
A media strategy is defined as a plan of action that enables businesses to communicate with members of their target audience using the media channels that they prefer. The goal of a media strategy is to build awareness of a brand as well as its goods or services with the intent of driving sales and creating brand loyalty.
In today’s connected, global marketplace, having a media strategy that consists of traditional marketing methods is no longer enough. If your enterprise relies on conventional marketing channels exclusively, such as print advertisements and television commercials, you are missing out on valuable opportunities to connect with the members of your target audience where they are increasingly willing to spend their money – on the Internet.
To avoid that, it’s crucial that brands incorporate “digital” into their media strategy. More accurately, a digital media plan that has merit that’s all its own needs to be a big part of the overall media strategy. Your digital media strategy and your comprehensive media plan should support each other and work together seamlessly to promote your business and the things you sell.
The Benefits of a Digital Media Strategy
Having a digital media strategy in place provides some key benefits for small and mid-size businesses across industries. One of these benefits is keeping your brand and your goods or services top of mind while supporting your overall media strategy.
Consider the following scenario:
You sell children’s toys and advertise them with television commercials intended to motivate kids to ask their parents to buy your products. While the kids can’t buy your goods on their own, their repeated requests will be recalled in their parents’ minds when they see the desired toys later that day in a targeted, smartly placed online ad. To satisfy their children and avoid their continued requests, the parents click your ad and purchase toys for their kids.
A digital media strategy that is integrated with a comprehensive media plan can keep your business in the minds of consumers, hasten people through the sales funnel and drive sales.
Provides Focus and Direction
While the scenario described above may be all that many business leaders need to believe they need a digital media strategy, almost 50 percent of businesses lack a clear, well-defined strategy for digital. That’s a shame because it is only by having a plan of this nature that a business can achieve its goals.
When a digital media strategy is in place – and you follow it consistently everyday – it increases the odds that your business will achieve its objectives because it provides focus and direction. It also ensures that your digital messages are aligned with your offline messaging, which is vital to avoid confusing clients and prospects and retaining their loyalty and interest.
In general, you can save money on digital advertisements compared to more traditional marketing channels. Depending on the kinds of digital ads you use, they are typically less expensive than conventional print ads.
Flexibility and Changeability
When you use digital media to promote your business and the things you sell, you’ll enjoy greater flexibility and changeability. In the digital realm, you have many kinds of marketing channels to choose from, including email, banner ads, social media, content marketing and pay-per-click ads. This flexibility enables you to use different channels to attract the interest of the various niches that make up your target market.
In addition to offering plenty of flexibility in the context of ad types, digital offers tremendous flexibility. With a static print advertisement, for example, you can’t change an ad once it has been published and it could take weeks or months for you to gauge the effectiveness of your ad. With online marketing channels, you can review data to see what is and isn’t working in real-time and make changes to your ads instantly.
Enhanced Engagement and Increased Familiarity
With digital media, businesses have the chance to enhance engagement with customers and prospects. Enabling people to leave comments on your website or blog, responding to social media posts and allowing consumers to review your products or services are just a few ways you can engage with people through digital media.
When you engage with the members of your target market, you get to know them even better. This increased familiarity with their pain points, wants and needs will enable you to finely tune your marketing and increase your conversions with ads that are even more intriguing to your key demographic.
Components of a Digital Media Strategy
While you might be eager to start enjoying the benefits that a sound digital media strategy can yield, you first have to become knowledgeable about the various components that make up a typical digital media plan. Here are a few of them:
●Search and Display Ads: Search and display ads are often integral parts of a digital media strategy because they appeal to consumers who are at different points of the sales funnel. Search ads are what get in front of people who are already searching for the products or services you sell while display ads are seen by consumers who were targeted after they took a certain action, like watching a video or reading an email.
●Affiliate Marketing: Affiliate marketing is often referred to as “performance marketing.” This type of marketing is when you reward an external partner with a commission for delivering a desired result like a sale to your business.
●Social Media Marketing: Social media marketing is pretty self-explanatory. It involves promoting your brand and your goods or services using social media and employing different social channels like Facebook, Twitter and LinkedIn to interact with your audience.
Contact Chicago Digital
If you need help putting together a digital media strategy, Chicago Digital can help. From social media marketing to email marketing, display and search ads, remarketing and much more, we do it all. And we can compose a highly effective digital media plan for your business that includes all the components that are necessary to resonate with your target audience. Contact Chicago Digital to learn more now.