Flexibility for the Dynamic Market Environment
Nowadays, almost all businesses need a Digital Marketing Plan that has its own flexibility and able to be adjusted according to its market needs. Do you know why? The main reason is because market always actively kept moving in its dynamic ways to fulfill the changes in customers’ needs, behaviors and trends.
So, this means whatever you planned for next three to four months ahead without continuous monitoring on market trends or not watching on what makes your competitors doing better than what you offered, then, your plan might not be relevant anymore with what market needs. You are off track !
Bare in mind, similar things happened in our top digital platforms that we are actively use it almost everyday; Facebook, Google, LinkedIn or Twitter, where these platforms always keep changing their algorithm, features and functions regularly, to provide better user experience. Meanwhile, as a business owner, you need to follow this trend too or otherwise, you might be left behind your competitors.
Therefore, a flexible or adjustable Digital Marketing Plan with frequent review and analysis is now considered as a part of important strategy to make your business back on track with the market trends.
Flexible plan : What are challenges of small businesses and startup company might face?
Once a new business or a new startup company started to kick off into the market, budget planning and control become really important where all online advertising expenses must be spent wisely according to its initial digital marketing plan. Because, let say if market trend suddenly changed its direction or digital platform providers modified its algorithm that contributing to higher advertisement cost, these unexpected circumstances might bring bad impact on earlier planned budget.
Meanwhile, a small business owner or startup company founder should allocate some extra budget as a backup plan (sometimes we call it emergency fund) to recover unforeseen business expenses. Let’s take Facebook and Google as example, these digital platform providers frequently keep changing on their algorithm almost every year and as a result, it had blown some digital advertising budget of small businesses.
Hence, a small business owner and startup owner must take extra precaution or back up plan and should set aside some extra funds to recover unpredictable financial loss while outlining their digital marketing plan and strategy.
However, not all business owner have enough capacity of skilled workers or resources to keep track any changes on digital platforms algorithm and to revise their plan. This will incurred extra cost to retrain existing staffs. For this case, outsourcing the digital marketing plan to an expert digital marketing consultant or agency would be a cost effective strategy while reducing their business operating expenses.
At Insi.tech, we deliver intensive digital marketing consulting service to small business that facing the same challenges.
What are critical aspects should be included in your plan?
Meanwhile, a good and well strategized Digital Marketing Plan will certainly guide you with a clear direction on following aspects;
- what are market trends related to your business,
- what is your business goal,
- what type of daily digital tasks or actions need to be done,
- what kind of digital infrastructure your business should use,
- what kind of resources your business must prepare,
- what type of digital skills should your employees focus on,
- what are your competitors doing,
- what type of customer persona or profile should you create,
- what are your target audiences or potential customers,
- how large is your audience size,
- what are effective strategies should you perform,
- how much budget should your business get ready to spend,
- which digital platform suitable and most effective for your B2B or B2C business,
- what type of digital marketing campaign should you use,
- how long you need to run brand awareness campaign for a new small business or startup,
- how to track and analyze your digital marketing campaign performance,
- how to calculate your return on advertisement (ROA),
- how to measure and improve your digital marketing campaign performance,
…and many more aspects.
How frequent should you update it?
Do you have any other important aspects that should be considered in preparing a Digital Marketing Plan?
Share your thoughts or opinion in the comment below and let’s discuss.
Happy planning !