If you’re a business owner, you might already have thought about digital marketing, but do you have a clear strategy in place? According to research by Smart Insights, 47% of businesses don’t have a clearly defined digital marketing strategy. 

It’s hard for some business owners to believe that marketing has shifted to a more results-driven approach and that they will now be accountable for every pound they spend. Your marketing campaigns’ outcomes can be improved if you have a clear and holistic digital marketing strategy in place. Read further to explore ten reasons why you need a digital marketing strategy in 2024.

1. Gives you Direction

You could be running in different directions when you don’t have a well-planned digital marketing strategy. A strategy helps define goals and maximises the efficiency of all your marketing campaigns. It enables you to answer critical questions about your business and how to sell to your audience. It will also help to determine what benchmarks you want to achieve and when.

2. Helps you Better Understand your Audience

You might have spent a reasonable amount of time trying to learn about your target audience,  their personas and journeys, but it could have worked out better with a strategy in place. A digital marketing strategy helps to segment your audience and personalise your efforts to create more targeted marketing campaigns that resonate with your audience and drive business growth.

3. Prevents Wastage of Time and Resources on Duplication

Sometimes, you purchase different tools to accomplish similar marketing tasks, leads to a waste of time and resources. But with the best marketing strategies, you can avoid such duplications. A digital marketing strategy clearly outlines which tools need to be used for which purpose and if any tools can perform multiple tasks at a time. This helps to avoid wasted or duplicated resources.

4. Improves Budgeting

A digital or online marketing strategy helps improve budgeting by giving a more in-depth insight into what your marketing team is working on. In that way, you can manage your budget more efficiently to get the most out of your marketing campaigns. When you have an idea of where your money is going, it gets easy to make plans for higher budgets and more resources.

5. Gets you Powerful Online Value Proposition

The best marketing strategies help differentiate yourself and improve engagement with your existing and potential customers. In today’s competitive marketplace, a strong value proposition helps you stand out from your competitors. When you continue to fulfil the promises you make in your value proposition, you win the loyalty of your audience and keep them interested for a lifetime.

6. Avoids Disintegration

Digital marketing campaigns work across multiple channels while supporting each other to achieve a singular desired outcome. But, when you’re focusing on multiple channels at once, it’s very easy for the campaigns to lose their individual effectiveness. A clear and defined digital marketing strategy by a specialist helps keep all your campaigns in line and moving in the right direction.

7. Keeps Everything Optimised

The competition on digital channels is at its highest, and there’s little room for ineffective or underperforming strategies. It can be challenging to optimise everything when you’re working on multichannel campaigns. 

You must identify the right metrics, analyse your data correctly, make informed decisions, and adapt to the changing trends. Your digital marketing content strategy can help optimise everything and keep it in line with your business’s goals.

You can also read: Digital Marketing Trends to Watch: How to Stay Ahead in 2024

8. Let you Know About your Market Share

Market share is the percentage of the total sales or revenue generated by a particular business over a certain period of time. It’s important because it indicates the relative competitive position of your business within a market. 

It can be a key performance indicator to track growth or decline over time. A trusted digital marketing strategist can connect your digital marketing strategy to developing your brand’s market share. These help your campaigns focus more on the outcomes that matter for your business.

9. Maximises Return on Investment (ROI)

A digital marketing strategy made by a professional marketer focuses mainly on identifying and targeting the right type of audience. When you reach the most relevant audience, you increase the chances of conversions, leading to a higher ROI. For example, at present, social media is one of the most potent and non-negotiable channels in a digital marketing strategy for startups.

10.  Easy to Track and Monitor

It’s often difficult to track the effectiveness of traditional marketing strategies. But it’s not the same case with digital marketing. You can easily get an accurate ROI measure for every digital channel. You will also see how your audience responds to each campaign. 

For example, you can track the number of visitors to your website and their source. You can also analyse how long a visitor stays on and interacts with your website. All these insights help to adjust or modify your digital marketing strategy accordingly.

The Bottom Line

A proper digital marketing strategy is a blessing for any business trying to reach more people. It helps you stay aligned with your business goals, improves marketing efficiency, and lets you make better decisions for your business. If you’re ready to get started on a cost-effective digital marketing strategy for your business, Tesla Media can help. 

They are the UK’s leading and most reliable digital marketing agency, providing affordable, low-cost, but equally effective digital marketing services. They combine the power of SEO, PPC, social media marketing and lead generation to connect, engage and convert your target audience and keep them coming back. Get in touch with them to get your customised digital marketing strategy now.

Have you read: How to Choose the Right Digital Marketing Agency