Digital Ad Strategy
Before a marketer gets on with placing digital ads, it is imperative for him to get a Digital Ad Strategy in place. As per the definition of Demand Media, Digital Ad Strategy is the blueprint of how you sell your product or service to consumers. More the products, more will be the ad strategies.
The first step to creating a Digital Ad Strategy is a market study. It’s a sort of due diligence before strategic goals are set. One needs to understand;
- What market is one operating in?
- Who is going to buy the product and in those buyers how many are interested in one’s product at present?
- Does competition from existing companies exist for one’s product?
- If competition exists, then How are they advertising and what is their strategy?
It’s crucial at this point in time to get a fix on the economic environment your business will operate in. A “SWOT (strengths, weaknesses, opportunities and threats) Analysis” of the business environment is the need of the hour. What are the past trends of this market, and in the light of everything that does the future for your brand look like in the market? The state of the market you operate in will have a key role in determining the Digital Ad Strategy for your product.
Once you’ve understood that the market is viable for your product and its future growth, you need to get on with asking a few key questions.
- Where we are and where we want to go?
- What are we currently doing in terms of digital advertising?
- If you are invested digitally, then are your campaigns aligned? And how are they performing?
After that, set your Key Performance Indicators (KPIs), exactly on what benchmarks are you going to measure success.
Further down, you have to go about setting goals. It is done by choosing a set of objectives say for example “increasing sales by X amount, brand awareness and reaching out to new demographics.”
Clearly defined goals on paper make a base for success measurement. On the basis of these benchmarks thus can be determined what’s on the benchmark and what’s below. Amendments can be further made to the Digital Ad Strategy keeping in mind the weaknesses and feedback.
4 Goals to Create the Best Digital Ad Strategy
In Digital Advertising, goals fall under the following broad categories;
- Customer Acquisition
The first and foremost is a popular measurement of success – this shows the increase in customers, through various ways by either signing up for products and services or purchasing it online. Conversion is indeed one of the most popular tracking features of digital campaigns that give a clear statistics on how many people out of the online visitors are going to finally buy the product,leading to actual sales.
- Customer Nurturing
There will always be a set of customers who are the late adopter types. They will visit your web page but not buy immediately. Right after that moment when they leave, they need to be nurtured till the point they end up buying the product. Many technologies such as marketing automation and retargeting help in customer nurturing, by the way, helping to target customers on the basis of their past online behavior.
- Customer Loyalty, Cross-Sell, and Upsell
This goal urges you to continue with ‘nurturing’. It says the nurturing of a buyer shouldn’t end when he becomes a customer. Rather nurturing should be continued to oil the brand-customer relationship
The same technologies can again help, this time, to result in a repeat purchase. More repeat purchases will build customer loyalty over time.
Your brand, like any other brand, stands for its uniqueness in features, attributes, differentiators, distinctive look and feel. This unique identity and its awareness can be generated in a vast audience that’s there on the web. Big conglomerates are spending anywhere to the tune of one-thirds of their ad budget to digital spend.
2 Important Attributes to Create a Quality Digital Ad Strategy
- Audience Development and Identifying Personas
The audience you are targeting through your advertising has every bit of influence on your Digital Ad Strategy.
Having more than one set of a target audience for your product creates the need to evolve Personas. Persona is nothing but a detailed profile of an audience defining their behavior, attitudes, ambitions and skills.
On can conduct field interviews with customers and prospects, to create Personas. Various important points can be covered in these interviews;
- His basic preferences, likes, dislikes.
- His style of research/ source of information about products.
- His preferences in terms of kind of online content.
- His pain areas.
- His preferred form of online content (text, videos etc.).
Various Ad Strategies can be created linking to each Persona. These Personas should also be verified over time, as to help record their refinement in tastes and preferences.
The next job is to identify how to reach your audience once identified. A B2B audience is likely to be on websites and blogs while a B2C audience can be found on eCommerce sites. A marketer must assess where his moolah is best allocated, no point putting it in spots that won’t give the best results. Also, timing can be used to capture the specific audience’s attention, that is if they are housewives they can be found surfing in the odd hours of 2-5PM when their children are asleep.
Being A Star in Digital Ad Strategy Is A Matter Of Your Digital Ad Team
Size of the Digital Ad Team
- Staffing Requirements to cater to Online Campaign Management: – involves dealing with paid search and other forms of digital advertising, along with copywriting skills.
- Staffing Requirements to cater to Creative Services: – involves the creative side of advertising, designing banners and landing pages, and understanding of nuances such as what to do with a tracking pixel or code snippet.
- Data Analysis and Number Crunching: – If someone can be dedicated to a role such as Data Analyst, then more ROI can be generated by digital marketing campaigns.
- Social Media Advertising: – This is another important staffing requirement and can be filled in a large team setup, somebody who can focus on Social Media – launching social ads, understand of trends on Facebook, Twitter, LinkedIn.
- Video Production: – To execute digital ads one would need staff to produce those ads in the first place. Hence the need for a specialist video person who can create magic with video production, editing, and formatting, goes without say.
- The Hipsters: – The creative guy who puts the design and content in place.
- The Hackers: – The techie who works on digital ad technologies, web development, data, and analytics.
- The Hustlers: – The manager who makes sure digital advertising goals are met on time and in the budget.
How to Hire a Good Ad Agency to Fulfill Your Digital Ad Strategy
A good agency will not only get your job done skillfully, but it will also bond well with your team and adhere to similar values that of your company. A robust relationship of client agency will make workflow easily. Significant traits to look out for in an agency;
- Domain Knowledge: – The agency must demonstrate a high level of knowledge and expertise in both digital and traditional advertising.
- Shared Vision: – The agency must be able to convincingly articulate their understanding of the brand’s identity, goals, and messages.
- Industry Experience: – If the agency has past work experience in the similar domain, it can be an added advantage.
- Proven Track Record: One can validate claims by the agency during the pitch, by checking references.
Extra Miles on Digital Ad Strategy
1.How to Set Ad Budget
Your budget should indicate the sum of money you are okay spending each day or month (based on the manner in which the advertising platform charges you). A Budget is influenced by following;
- Different channels selected for advertising
- How each channel is charging and their pricing models. This often results in a multi-tier budget – with the gross amount of ad budget.
- Specific allocations for each ad platform.
2.Advertising and Cross-Channel Marketing Strategy
An ad strategy must work cross channel way, pretty much in sync with the larger marketing plan and vision. Therefore in perspective, one has to understand Which of the messages is the consumers hearing from the brand as they navigate across channels? And, Is that message the marketer wants for that consumer?
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