A marketing concept is an essential basis for the successful marketing of your products. This is especially true for marketing on the Internet so that a suitable online marketing concept is becoming increasingly important.
This idea summarizes all essential information about a company’s online marketing and puts the relevant factors in a meaningful and promising relationship. In this post, I’ll show you the six most essential steps in creating an online marketing concept.
In digitalization, in which more and more advertising and more and more communication online, new challenges but also new opportunities in the creation of a marketing concept. The additional possibilities of the Internet as an innovative communication channel should be taken into account in the nature of the marketing concept to achieve competitiveness or even competition dominance based on existing marketing innovations.
The Online Marketing Concept – The Basics
In order not to be subject to a general confusion of terms, a clarification and delimitation of essential concepts make sense first. The word “marketing concept” summarizes all essential considerations and planning in marketing. Every marketing concept starts with the situation analysis, the marketing goals, and the marketing strategy.
At the operational level of the marketing measures, the budget and finally the marketing controlling, the implementation of the policy and the verification of the effectiveness and efficiency of the marketing are checked. A freelance copywriter can help you and your business grow, since you will not be required to take on additional overhead but you will also produce the content that you need to succeed online.
This results in a structure for each marketing concept, which is not only helpful but also manageable and whose compactness significantly supports conceptual work in marketing.
The steps to create a digital marketing concept are:
- KPI Tracking
Marketing Goals In The Digital Age
In marketing communications, the online channel and the growing importance of online marketing have brought about substantial changes. On the one hand, the multiplication of the marketing instruments, the fragmentation of the target groups as well as the increase in competition intensity in online marketing and e-commerce have noticeably increased the complexity of marketing.
On the other hand, technology-based solutions for measuring the effectiveness of marketing, segmenting and targeting more specifically to audience segments mean opportunities to increase efficiency and thus opportunities to improve marketing success.
Strategic Online Marketing Goals
Like the marketing goals, the marketing strategy should be channel specific to account for the diversity of channels. The marketing strategy is closely related to the corporate strategy. If one assumes the generic strategy types according to Porter, then an online marketing strategy for price leadership and quality leadership has to be defined.
The mechanisms of the online channel require a dominance orientation for price competition, which requires an obvious focus on online marketing. This is not only functional but also financially relevant, since the reach needed for cost and price leadership can only be achieved through large online marketing donations.
In contrast, quality leadership may even be achieved in a long-tail niche instead through content-oriented online marketing, in which an online branding takes place, in particular through the presence on a topic in many social media, which in turn promotes reach and conversions.
Blue Ocean Strategy In Online Marketing
Further strategy types are an online brand strategy or a Blue Ocean strategy. While the Blue Ocean strategy is characterized by a reinterpretation of a product – standard example is the Cirque de Soleil – the brand strategy is the goal to transfer an existing brand into the online channel or to establish a new brand online. Especially in the latter case, the use of conventional advertising media such as TV should be worth examining.
Measuring The Impact Of Online Marketing
Once a strategic decision has been made, the next step is to implement marketing measures. This is done at the operational level and implements the marketing objectives set out in the short and medium term business plan. In this case, the strategic definitions require the selection of specific instruments that should be used in a very wide range, especially in the dominance-oriented price leader strategy.
The most relevant and typical tools in online marketing are:
- Search Engine Optimization
- Search Advertising
- Display Advertising
- Affiliate Advertising
- Social Media Marketing
- Content And Video Marketing
The selection of measures and instruments depends on the strategy and the target group or target group segment. Last but not least, the personnel measures taken by the company are decisive as to which instruments can be processed.
In principle, the balance of a portfolio within the marketing concept should be taken into account when compiling the measures. A sole dependency on an instrument such as search engine optimization – even if this is the most attractive measure – means too high a risk due to the extreme dependence on the Google algorithm.
The Online Marketing Portfolio
By contrast, a well-balanced online marketing portfolio safeguards systemic risks, reduces online marketing efforts and also helps the company to participate in the development of as many instruments as possible.
The budget planning in the context of the digital marketing concept should always be channel-related and flexible in order to be able to take account of range and price shifts within the channels
If it turns out that contacts in one channel are cheaper and have the same quality of conversion than in another, short-term reallocation of funds should be possible. In addition, the efficiency of the measures in the context of the online marketing concept has to be constantly checked in order to be able to react quickly in the event of reach and conversion slumps.
This fifth step -The with online marketing controlling are referred can- calculated daily central online marketing KPI such as unique visitors, average transaction sizes, pages / visit and conversion rates for individual channels. For this purpose, a Web Analytics solution such as Google Analytics, etracker or Piwik is used.
In its own evaluations and dashboards, the online marketing expert receives comprehensive insights into the impact of the measures carried out and the achievement or non-achievement of the planned contact and sales figures. Since the objective of all measures is to achieve sufficient contribution margins, a direct link with the company controlling is decisive.
Web Analytics has to be planned from the beginning as part of an online marketing concept, as only those measures can be used effectively in which the goals and effects can be verified. This applies in particular to the integration of non-digital advertising channels.
These are interesting and relevant if they help to reach the target audience segments and if they offer competitive contact costs. With increasing competition in the online channel and thus rising contact costs, this is an increasingly relevant aspect. Consequently, before using these channels, a model that can be used to check the success of the offline channel from measurable events is helpful.
The creation of a comprehensive digital marketing concept enables companies to integrate the potential of the online channel into marketing. Ultimately, one can assume in digital transformation that online marketing is already essential. Therefore, an early creation of an online marketing concept is not only a success factor but also a competitive factor.