What Should Your Digital Marketing Strategy Look Like in 2018?
Digital and marketing channels have become a vital channel today for acquiring and retaining customers. According to a ‘Managing Digital Marketing’ study by Smart Insights, 46% of brands don’t have a defined digital marketing strategy, while 16% do have a strategy but haven’t yet integrated it into their marketing activity.
Ascend2 and our Research Partners recently put our new research, the 2018 Digital Marketing Plans. (Download Link)
According to the research:
MOST IMPORTANT OBJECTIVES OF A DIGITAL STRATEGY
For 18% of marketing influencers, important objectives for a digital marketing plan to achieve are increasing lead generation and increasing sales revenue. 17% of marketing influencers point to improving brand awareness as a most important digital marketing plan objective.
IS DIGITAL MARKETING A SUCCESSFUL STRATEGY?
According to the research, 57% of marketing influencers consider a digital marketing plan to be very successful at achieving important objectives. Another 47% consider it somewhat successful, while only 2% describe digital marketing planning as unsuccessful at achieving objectives.
CHALLENGES TO SUCCESS
According to survey respondents, a critical challenge to the success of a digital marketing plan is data quality. Without data quality improvements, advances such as marketing personalization can’t be fulfilled. Lead generation and user experience are also critical challenges for 15% of the marketing influencers surveyed.
HOW OBJECTIVES AND CHALLENGES COMPARE
Objectives that are significantly more important than challenging to achieve, such as increasing sales revenue and improving brand awareness, are strategically preferable to objectives that are more challenging than important to achieve, such as improving data quality.
DIGITAL STRATEGY BUDGETS ARE INCREASING
Digital marketing budgets continue to increase for a total of 93% of survey respondents, with 41% saying the increase will be significant.
MOST DIFFICULT TACTICS TO EXECUTE
Data management and marketing technology were cited as the most difficult tactics to execute. This is primarily due to the fact that the skills, capabilities and resources required to execute these technical tactics are not always available in-house.
RESOURCES USED TO EXECUTE TACTICS
93% of marketing influencers say they outsource all or part of the execution of digital marketing tactics, while nearly two-thirds (63%) consider a collaboration between outsourced and in-house resources the most effective way to execute digital marketing tactics.
With consumers today using more and more digital channels for research, decision-making and purchases, an effective digital marketing strategy is one of the most effective ways to stay competitive.