The objectives of digital marketing are those that govern the strategy of the positioning and communication plan on the Internet. Some goals or others will be established depending on what you want to achieve. The most common purposes are:
- Brand recognition.
- Attracting new customers, loyalty.
- Increasing the number of sales or market share.
- Optimizing the conversion funnel.
- Improving ROI.
The systematic use of technology in practically all areas of life has led to a general tendency to think that digital services must always work. Still, as Ricardo Villar, General Director of Monitorify.com (a spin-off of Aqmetrix, a firm specializing in improving the digital services of financial institutions), “for this to be the case, we have to measure and value them permanently.” And that, without a doubt, is an arduous task.
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What is Digital Marketing?
Digital marketing, also known as online, encompasses the actions and strategies developed for promoting products and services through the Internet. The most appropriate action plan will be established depending on the objectives to be achieved.
And in that wide universe that encompasses online services, there is one -a priori very basic- that requires a special ‘pampering,’ and to which we sometimes do not pay the attention it deserves. This is the website, “the main letter of introduction of any company.
It does not matter the sector to which it belongs, its activity, or the geographical area in which it provides its services or sells its products. It is an asset to pamper”, they highlight from Monitorify.com.
In their eagerness to improve digital services, the company intends to democratize the technology they have been developing in the last two decades to improve web pages. But all this is useless if we do not implement certain metrics.
And it is that in the network, everything is measured. Metrics and KPIs work like a thermometer of results, but without well-defined business or marketing objectives, the information they provide is irrelevant. The volume of data on the Internet is so high that, without well-defined objectives, obtaining it is useless.
Make a Good Metric
“We have innovated a lot in this regard,” says Villar. “At the moment, we can measure any digital process anywhere in the world and on any platform, and all this also thanks to our customers, who have been the engine of our innovation.”
Main Objectives of Digital Marketing
Objectives are the raison d’être of any campaign. However, before setting them, it is important to study a series of issues such as the company’s situation, the competition, and the business objectives.
You must carry out a SWOT analysis (Strengths, Weaknesses, Threats, and Opportunities) and know what the company wants since all departments must row in the same direction.
Once the preliminary analysis has been carried out, it is time to set the objectives of the digital marketing plan. The most common are the following:
1. Brand Recognition
Brand recognition allows the company, product, or service to position itself in the market. In this case, the actions focus on branding, the identification of the brand by the user, consumer, or client, to enter their mind and be remembered. For this, normally, the initial purpose is to impact.
2. Capture New Customers
When the goal is to attract new customers, the strategy must focus on exploring new lines or channels that improve the number of conversions. Offers and discounts are good actions to achieve it.
3. Customer Loyalty
In this case, the target audience to which the actions are directed has already converted. The important thing now is that they stay and repeat the conversion. It is more profitable to keep a customer than to acquire a new one. Therefore, most efforts must focus on getting to know the client’s portfolio, offering a good experience, maintaining contact, and gaining trust.
4. Increase the Number of Sales
An increase in sales is possible, the marketing objective par excellence of any company since it is associated with increased profits. However, a company must be prepared both to achieve it and for the operation to be a success.
This objective could be divided into two. On the one hand, the increase in transactions by customers is the increase in volume.
And, on the other hand, there would be an improvement in the average amount. To enhance this last purpose, cross-selling actions are common.
5. Increase Market Share
When the objective is to increase market share, the approach involves implementing actions that facilitate expansion. An expansion can be carried out in several ways, improving the positioning of the same target, expanding the target audience, or growing in the territorial scope. It is important to study the competition to achieve this since positioning in the market is always relative.
6. Optimize the Conversion Funnel
It is the maximum of the achievement of impacts; It is useless to get them if users do not act immediately. On some occasions, the objective is to get more leads; in others, they do a purchase action.
Marketing actions allow users to be guided through the well-known sales or conversion funnel, that is, to guide them through the different phases until they carry out the desired action. With the optimization, it is possible to increase the percentage of conversions.
7. Improve Return on Investment (ROI)
ROI (Return On Investment) is the concept known as “return on investment,” that is, the profitability obtained from each of the marketing actions that have been carried out.
It is a fundamental objective that has a wide variety of metrics to calculate it. Yes, although one can measure the ROI promptly, it is advisable to do it over time.