We have already reached the beginning of March and it's becoming obvious that it's going to be a promising year. Thanks for joining us for the 18th episode of Get Fact Up.
This week: We show you the most integral angles of what makes an effective, reliable, profitable Digital Marketing Strategy. This is a great source of information so be sure to listen carefully!
Please, grab your Monday coffee and enjoy the 18th week running of Get Fact Up!
Want to get even more Fact Up?
Like us on Facebook: https://www.facebook.com/memedia
Join us on LinkedIn: https://www.linkedin.com/company/memedia
Follow us on Twitter: https://twitter.com/me_media
Please subscribe to Get Fact Up newsletter using the form on this page.
Get Fact Up # 18 - Video Transcript
Good morning, I'm Chris Hogan, founder and CEO of MeMedia. Let's Get Fact Up!
Thanks for tuning in, Australia. We're gonna give you some super powerful information. It's gonna go over five minutes, but please listen in, you'll love it. I'm sure you've heard us mention that we've been getting some great feedback for Get Fact Up.
However, I think we've realized that we've been chasing after the shiny new things that are happening in the online marketing industry just a little bit too much. And we wanted to bring it back, and focus on our strategy, which was to educate you guys on this online marketing arena.
So today we wanna cover creation of your digital marketing strategy. Your digital marketing strategy is meant to serve as a well thought out analysis of how to reach out and attract your ideal client to your business. Because you've dedicated time to developing a well thought out marketing strategy, either by yourself or with an agency like MeMedia, you shouldn't ignore that research that you've done around your ideal client that is really going to set your marketing apart for the year to come.
It's like writing a shopping list and forgetting it, leaving it at home. When you're walking through the aisles of the shopping center, all of a sudden you come across the confectionery aisle, and lo and behold, you're buying chocolate.
So today, I'd like to take a few minutes on how to create a goal oriented, psychographicly targeted online marketing strategy. Wow, that's a mouthful. So let's define your goals. It's super important that you're clear on whether your primary focus is on awareness, product demand lead generation, or sales. How are we going to define and measure success of a campaign? And how does this relate to revenue and return on investment?
So let's calculate your marketing pipeline. It's time to analyze your top of funnel metrics and how that will get you to your end KPI, or Key Performance Indicator. By applying your organization's leads to sales conversion rates, working from the bottom of the funnel to the top, you can then begin to understand how many visitors do you need to achieve X amount of sales. This may also require you to evaluate the lifetime value of your client.
An easy example would be the lifetime value of a coffee customer who spends $20 a week for three years. The value of that customer would be 20 times 48, to be conservative, times three years, equals $2,880 in total revenue, or $960 per year.
Analyzing how many web visits you get for a specific location, and comparing that to how many coffees you sold, can give you your conversion rate. Next, we need to define who your ideal client is. Analyzing your clients' attitudes, interests, personality and lifestyle, as well as their barriers to purchasing, will help you best understand your ideal client. This will require you to ask plenty of questions. Often this is done via surveys, or focus groups, or you may just be marketing to someone just like you, or a family member, so less research required.
Next we need to define your marketing channels and how they work together. The first place we start at MeMedia is with your website, and understanding how your ideal client is actually going to use that website. Once we've evaluated what your ideal client wants, and how they're gonna get it on your website, obviously that gives you how you need to structure your website.
For example, if your client needs to find one of your stores across Australia, they may start out with needing to find the locations, seeing the opening hours, reviewing a photo of the location to check it, looks as expected, see menu or stock availability, easy access to phone number to confirm they're not wasting their time by coming to you, and gaining easy directions. All of this indicates that one of the most important channels would obviously be Google Maps. But then making sure that that integrates correctly with your website. And yes, there is a right and wrong way to integrate Google map listings with your website.
Please, don't go and create multiple mini sites for every location. That's a wrong way. The right way is to create multiple pages on your website for those individual locations. In the map listings, link to each individual page.
Now you need to understand your tracking capabilities. In a perfect world, we would be able to attribute all of your sales to specific marketing activities. In that online to offline mix, it does require a bit of cooperation and collaboration between physical stores, accounting reports and marketing reports, to best understand if there are improvements. Obviously Google Analytics and Facebook Insights can assist greatly, but they still can have their limits for online to offline sales attribution.
As we wrap up today, I hope you've got a clear guide on how to create your online marketing strategy. But please don't forget, your marketing strategy also includes your website strategy, and should be 100% integrated together. So given our marketing landscape, our customer, etc. is constantly evolving, so too should your marketing strategy. It should be a living document that you keep up to date regularly, rather than let it go stagnant or be ignored.
Thanks very much, Australia, we're glad you tuned in to Get Fact Up this week, on how to create your digital marketing strategy. If you need help, we're just a phone call away. And don't forget, that all of this great info comes from the team at MeMedia who are doing this stuff everyday. Not only are we creating the strategies with our clients, but also designing and developing the websites, and then executing the content marketing strategies thereafter.
So it really does come from a place of experience and we hope that you get the most out of this video today.
That's all for today's Get Fact Up. We'll see you next week, Australia, and we're gonna be bringing even more education, and hopefully entertainment to you, sitting in your chair.
There's no outtakes today, 'cause I didn't stuff up enough. We got an outtake.