What is a Digital Marketing Strategy Audit?
A digital marketing strategy audit can help you determine what aspects of your company’s marketing are effective and ineffective so you can make the necessary adjustments and maximise the effectiveness of your digital marketing strategy. According to a digital marketing specialist, a digital marketing plan audit is crucial for every company and brand. A digital strategy audit will enable your company to implement efficient processes, systems, and digital marketing strategies, increasing income and maximising the return on your marketing investment.
Doing a digital marketing audit of your site is advisable to thoroughly understand current performance, identify any significant problems, and highlight potential growth and improvement areas. The goal should be to generate concrete suggestions that may be used to develop a data-driven strategy for your various digital platforms. Always connect these suggestions to your primary corporate goals and expansion targets.
Benefits of Digital marketing strategy Audit
- Completing a digital marketing plan audit ensures that your company’s operations result in expansion, improved rankings, and more leads. Maximising what works and removing what doesn’t helps you raise your company’s performance.
- No matter how great you are doing, you can always do better. All of your systems’ bottlenecks and flaws that prevent expansion are exposed by an audit. Once all the obstacles are removed, growth can begin.
- You are undoubtedly sitting on a goldmine if you are like most of the company owners. You can look at new ready-to-buy markets. You can close a profit-generating gap left by your rivals’ products or services or package them.
- The everyday grind of running your business can cause you to lose focus on your primary objectives. You are constantly reminded of your business’s northern star metric via audits, which keeps you on track.
- You have a lot going for you as a company. Perhaps you have a long history, and people believe entirely in you. Your tactics may be mismatched. Your items are consistently novel and intriguing. An audit identifies your strong points, allowing you to strengthen your market position.
- An audit compels you to drop what is ineffective and cling to what is. You can reallocate resources and save money by eliminating ineffective strategies. This not only enhances productivity but also raises your ROI over time.
How to Do a Digital Marketing Strategy Audit
Determine your goals and key metrics
Choose the metrics you want to pay attention to first. Only Google Analytics can track more than 200 indicators. Therefore, it’s critical to specify what you wish to measure. In addition, you can be employing one of the many additional analytics tools available. You will become overburdened if you attempt to measure everything. Reduce your measurements to a select few that are important so that you don’t become overwhelmed by data.
Step two can be taken once you have documented your objectives and measurements.
Gather performance data
Second, gather information from each of your channels. You could wonder where the statistics come from.
Website functionality: Record your opt-in rates, dwell periods, bounce rates, page load times, and click-through rates. How many leads result in actual sales? Rate the user experience on your website as well.
Performance of email: Keep track of email open, click-through, and unsubscribe rates. Do you use a one-size-fits-all approach, or are your emails targeted at distinct list segments?
Social media effectiveness: Obtain click-through rates, likes, and shares for social media. Do you make the most of paid social media? Are you present everywhere or just where your audience is, thereby diverting attention?
Gauge your content marketing strategy
Assess your content marketing strategy next.
Only 41% of B2B organisations have a formalised content marketing strategy, which surprises me, given how advanced inbound marketing has become. The crucial question with your content is: Is it aligned with your objectives? Result-driven content is linked with your objectives. High-alignment content performs admirably, while low-alignment content does badly.
Evaluate the competitive landscape
After that, you must consider your competitive environment because your business operates in a specific atmosphere. Competitors include companies that target the same market as you as well as environmental factors that may harm or benefit your brand. You can’t wholly control these outside factors. However, you can prevent or maximise them.
Examine your messaging and positioning
Finally, most marketers emphasise the qualities and advantages of their goods. They don’t think through messaging and positioning enough. To convey value to your prospects, use messaging. Positioning is the process of making people feel favourably of your brand so they choose you over your rivals. Even if your items are excellent, you could still fail due to weak placement and marketing.
Marketing Strategy 2023: Why Updating Is So Important?
Although “Set it and forget it” was a great marketing phrase, it wasn’t a brilliant marketing move. It’s time to refocus and begin the year on the right foot now that it’s the new year and we’ve recovered from our holiday food hangovers. Your marketing plan needs to be periodically updated. Even minor tweaks must be made constantly because it is a fluid phenomenon. Ideally, you’re reviewing the results each month to make any necessary adjustments. However, you should also prepare to conduct an annual audit, strategy review, and reboot.
Your marketing plan for 2023 can be pretty detailed and precise, or it can be a general plan that is updated monthly. It depends on your company’s and industry’s characteristics, as well as external variables like the supply chain and the season. But in order to decide what content to create or what advertisements to run and assess whether they are effective or not, a marketing plan is crucial. The time is right to revise your marketing plan! Please get in touch with Virtual Pebbles right away if you need more assistance with that.