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CHAPTER 3 Digital Marketing Strategy - Coggle Diagram
CHAPTER 3
Digital Marketing Strategy
Digital Marketing Strategy
Definition
Defines the
capabilities and strategic activities
a business
needs to implement in order to achieve its marketing and
business goals through the
use of digital media, data, and
marketing technology
.
Digital marketing strategy = Channel
marketing strategy
Multichannel vs. Omnichannel
Multichannel
(Operational view)
The way customers are enabled to complete
transactions on each individual channel.
Omnichannel
(Customer view)
A seamless, consistent, and integrated experience across
all channels, even as customers switch between them.
Why is strategy & digital transformation needed?
wasted resources, missed opportunities, and a competitive disadvantage against better-digitized rivals
Characteristics of a digital
transformation program
*Aligns strategy & long-term
investment
across departments*
*Broad scope
: digital media, data,
marketing technology*
Changes
internal processes,
structure
, and
skills
Reviews
measurement, KPIs, and
dashboards
for continuous
improvement
*Builds a roadmap
for implementing
change*
The SOSTAC Process
(Chaffey & Bosomworth)
Situation
Digital SWOT, micro & macro environment
Internal Assessment
Business Performance
: revenue, profit, cost
Marketing performance
: Leads, sales, retention, satisfaction, market share
Digital marketing performance
: VQVC (volume, quality, value, cost)
SWOT Analysis for Digital Channels
Strength (S)
: Brand, customer base, existing distribution channels
Weakness (W)
: Brand recognition, technology skills, multichannel support
Opportunities (O)
: Cross-selling, new markets, new services, alliances
Threat (T)
: Cross-selling, new markets, new services, alliances
Objectives
Vision, forecasts for visits / customers / sales
Setting Digital Marketing Objectives
Vision → Goals → SMART Objectives → CSF & KPI → Metrics & Measures
Digital objectives có thể tạo ra 2 nhóm benefit
1. Tangible benefits
(Có thể nhìn thấy/đo được trực tiếp):
New sales from new/existing customers, Cross-selling, repeat sales, Reduced costs for customer service, printing, distribution
2. Intangible benefits
(Khó quy đổi thành tiền ngay):
Enhanced brand image, Faster communication & better responsiveness future, Improved customer service & learning for the future
SMART Objectives
Specific
Measurable
Actionable
Relevant
Time-related
The VQVC Framework
checks that digital marketing objectives measure
the right type of metric
1. Volume measures
Unique visits
Visits
Page views (tổng số page đc xem)
2. Quality measures
:
Bounce rate (tỷ lệ thoát trang)
Duration=Dwell time (thgian xem trang)
Page per visit ( Số trag 1 ng xem trung bình)
; the
Conversion rate to lead/sale
is the most important
metric
3. Value measures
:
Goal Value per Visit (Gán monetary/business value cho một goal)
Revenue per visit
Page value (Xác định page nào đóng góp value nhiều hơn)
4. Cost measures
CPA – Cost per Acquisition (Chi phí trung bình để acquire một customer) : chỉ số để đánh giá hiệu quả của kênh truyền thông
Balanced Scorecard Framework
Đánh giá trên 2 phương diện
Efficiency
và
Effectiveness
cho:
Financial Outcomes (business value)
Customer Value
Operational Processes
Leading & Lagging Indicators
Leading indicator
: A metric that forecasts
future performance
like an amber light warning before green on a traffic signal
Share of searches
Repeat Sales Metrics
Customer Satisfaction / NPS
Sales vs Market Audience Trend (vd marketing tăng nhanh mà sales tăng chậm)
Lagging Indicator
: A metric that reflects
past performance
Sales volume, revenue & profitability
Cost-per-Acquisition (CPA)
Conversion efficiency metrics
Strategy
Segmentation, targeting, positioning, marketing mix, CRM
Strategy Formulation
The process of identifying alternative strategies, evaluating the merits of each option, then selecting the strategy best suited to the business environment, resources, and internal capabilities of the organization.
8 Digital Marketing Strategic Decisions
Decision 1. Market & Product Development Strategy
(Ansoff Matrix)
1. Market Penetration
Existing Product × Existing Market
Market share growth
Customer loyalty improvement
Customer value improvement*
2. Market Development
Existing Product × New Market
Đem sản phẩm hiện tại vào:
khu vực địa lý mới;
customer segment mới
Internet
làm giảm:
international advertising cost;
requirement for local sales infrastructure
micro
-
targeting
để tiếp cận niche segment
3. Product Development
New Product × Existing Market
add value or extend existing products
New products often combine
physical & digital elements
4. Diversification
New Product × New Market
Related diversification
(Bán dịch vụ liên quan): cross-sell
Unrelated diversification
(Đi sang một ngành khác): cần capital lớn
Backward Integration
(Tích hợp ngược): Liên quan phía supplier
Forward Integration
(Tích hợp xuôi): Lquan đến intermediaries
Decision 2. Business & Revenue Model Strategy
Skunkworks / Digital Lab
:
A team that researches & develops innovation opportunities, commonly seen at Facebook, Google (M&A + internal R&D); or encouraging a partner ecosystem to co-innovate (e.g., John Lewis with JLab).
Các Revenue Model Changes
Selling Advertising Space
(Bán không gian quảng cáo)
White-label Services
one company produces a product or service, then sells it to another business to rebrand, apply its own logo, and distribute to the market
Cross-selling Commission
(Hoa hồng bán chéo): thông qua affiliate
Decision 3.Target Marketing Strategy
Segmentation --> Targeting --> Positioning --> Planning
5 criteria to consider for segmentation & targeting
5 more items...
Decision 4. Positioning & Differentiation Strategy
Factors influencing the use of price to
differentiate a brand
4 more items...
Online Value Proposition (OVP)
A statement of the benefits of an online service,
reinforcing the core value proposition and
differentiating from both offline and competitors
Decision 5. Customer Engagement & Social Media Strategy
9 core questions
1. Who is the target audience?
2. What content does the audience prefer?
3. What content should be prioritized?
4. How do we differentiate social channels?
5. Do we need a content frequency & editorial calendar?
6. How is publishing & engagement managed?
2 more items...
7. Should we use publishing management software?
8. Should we track business impact?
9. How do we optimize social presence – SMO?
Decision 6. Multichannel Distribution Strategy
3 priorities
for making the best use of digital channels
Eliminate silos --> Tạo seamless
Tăng digital engagement bằng cách hiểu customer purchase journey.
Analyze & measure customer behavior tại:every touchpoint để hiểu:purchase drivers.
3 business models
by degree of online integration
1. Bricks-and-clicks
Offline business → thêm online.
2. Clicks-and-mortar
Online business → mở physical location
3. Pureplay Online
Hoàn toàn online.
Decision 7. Multichannel Communications Strategy
3 main types of customer contact
1. Inbound Sales-related Inquiries
Khách chủ động hỏi để cân nhắc
--> Customer Acquisition / Conversion Strateg
2. Inbound Customer-support Inquiries
Khách chủ động liên hệ khi cần support
--> Customer Service Strategy
3. Outbound Contact Strategy
Doanh nghiệp chủ động liên hệ khách hàng
--> Customer Retention & Development Strategy
Balancing two priorities
Customer channel preferences
Organizational channel preferences
Decision 8. Online Communications Mix & Budget
Requiring a clear focus:
3 more items...
Budget bao nhiêu?
Communications mix gồm gì?
Campaign-Based Communications vs. Always-On Communications
Campaign-based communications
are tied to
specific events
Always-on communications
-->
continuously
to meet customers' ongoing search needs
Customer lifecycle scorecard
1. Attraction
2. Conversion
3. Retention
Linking Objectives –Strategy –KPIs
7S MODEL
*Strategy
-->
Structure
-->
Systems
-->
Staff
-->
Style
-->
Skills
-->
Superordinate
goals
(Core value)*
Tactics
details of marketing mix, CRM, experience, digital communications
Action
plan, change & project management
Control
analytics to evaluate & improve results