With all of the advances that have occured in the Digital Age, there is hardly any branch of human activity which hasn’t benefited from it. The same applies to marketing and that is why smart IT solutions providers leverage digital marketing to boost sales and enhance marketing. Nearly half (49 percent) of organizations are doing […]
With all of the advances that have occured in the Digital Age, there is hardly any branch of human activity which hasn’t benefited from it. The same applies to marketing and that is why smart IT solutions providers leverage digital marketing to boost sales and enhance marketing.
Nearly half (49 percent) of organizations are doing digital marketing without a concrete strategy, according to a recent survey by Smart Insights. The remaining respondents have either a separate document for digital marketing (17 percent) or have it integrated into their overall marketing plan (34 percent).
Image Source: Smart Insights
Despite the fact that creating a digital marketing plan is a critical part of any companies marketing strategy, a large percentage of companies still don’t have a concrete plan. Here are just a few of the same of the consequences of not having a clear digital marketing strategy.
1. Failing to Plan Is Planning to Fail
This is something which doesn’t only apply to marketing, but to various activities in everyday life, too. While improvisation and alternatives in some situations can create a good outcome, digital marketing is a precise and serious matter which can greatly affect your success rate. This is why a fixed plan and good organization skills are required.
2. Sales Pipeline Doesn’t Grow
In a nutshell, the sales pipeline of a company is the best visualization of the state your company is in. Without a concrete digital marketing plan, you’re missing out on inbound digital leads for your organization. Fewer leads equal fewer sales. Simple math.
3. Online Buyers Might Be Skeptical
Not even the buying process is how it used to be. Today, buyers are going to be more cautious, by searching for online information about your services and products. At the same time, buyers are more informed than ever due to the abundance of information that exists on the web. If you don’t have a crucial plan for addressing this, your buyers might question how reliable your services are. Understanding your online buyers is a must and using online feedback tools and polls can help you improve.
4. Your Competitors May Outperform You
If you lack a digital marketing plan, you’re really helping your competitors gain market share – especially if they have a strong plan for digital marketing. Their digital market share benefits, and your company doesn’t have the upper hand.
5. Lack of Clear Direction
Setting up clear goals and writing them down in a document can make a big difference. Without a digital marketing plan, a company doesn’t know how many online visitors it has on a daily basis and which percentages need to rise and which need to fall. By having concrete goals, a company can easily discover its weak spots and know what needs to be changed.
These are just a few of the many consequences and issues that can arise by not having a clear digital marketing strategy. As with everything else in life, not putting forth the effort to formulate a plan is in itself making a decision to not have a plan.
Need help getting started with your digital marketing strategy? Start with what your company’s marketing goals are. Let’s discuss ways we can work together to develop a strong plan for your digital marketing success.
FAQs
The Impact on Business Growth and Success
Not having a cohesive marketing plan can leave you and your business with: Stunted Growth: A lack of strategic marketing direction can hinder your ability to reach new customers, expand into new markets, and ultimately, scale your business to new heights.
What are the consequences of not having a marketing strategy? ›
The Impact on Business Growth and Success
Not having a cohesive marketing plan can leave you and your business with: Stunted Growth: A lack of strategic marketing direction can hinder your ability to reach new customers, expand into new markets, and ultimately, scale your business to new heights.
What is the greatest risk of not having a digital strategy? ›
Customer dissatisfaction. In this digital age, customers expect real time data and communication. Any type of customer service that does not reach those standards means you'll have to wave your customers goodbye.
What happens when there is no digital business strategy? ›
Without digital marketing, you may miss out on valuable opportunities to connect with your audience and build brand loyalty. By engaging with your customers through social media, email marketing, and other digital channels, you can build a loyal following that will support your business for years to come.
What are the consequences of not having a strategic plan? ›
One of the biggest challenges of operating without a plan is a lack of clear direction. Without strategic goals and objectives, employees may not know what to prioritize, resulting in confusion, inconsistent performance, and poor use of resources and time management.
What happens if you don't use digital marketing? ›
Your Competitors May Outperform You
If you lack a digital marketing plan, you're really helping your competitors gain market share – especially if they have a strong plan for digital marketing. Their digital market share benefits, and your company doesn't have the upper hand.
What is the biggest challenge in digital marketing? ›
One of the biggest challenges businesses face in digital marketing is optimizing their marketing budgets and measuring their return on investment (ROI). With an ever-increasing number of digital channels, businesses need to identify the best channels and allocate their budgets accordingly.
What are the 4 F's of digital marketing? ›
Whilst not forgetting the traditional 4 Ps (product, price, promotion and place), digitalisation incorporates four other key concepts into the marketing strategy: flow, functions, feedback and brand loyalty.
Which is not digital marketing strategy? ›
Traditional marketing is a marketing strategy that promotes products and services using traditional advertising channels such as newspapers, magazines, billboards, posters, text messaging, television, radio, and so on to reach and engage target customers.
What are the risks of not having a data strategy? ›
It is dangerous to lack a data strategy as business lines tend to run independent agendas and loose the point of enterprise data architecture and unifying a customer's business within the entity.
The best time to create a digital strategy is when your organization is planning to achieve its business objectives. A digital strategy plan helps improve business processes, expand market reach, respond to competitive pressure, or realign operations with changing customer expectations and technological advancements.
What happens if you don't have a marketing strategy? ›
Poor market research leads to blind ad spend
Therefore, not having a marketing plan is akin to throwing money out on the street. Without the proper research to back up your marketing choices, you'll just be wasting your precious ad budget on low-converting marketing mediums or the wrong audience.
What happens if you don't have a strategy? ›
Without strong strategic decisions, your customers will feel lost, your products or pitches will feel unfocused, and the purpose behind your business will be unclear. Decision-making is what business strategy is all about. If there are no decisions, there is no strategy.
What will happen to a business without any marketing strategy? ›
Failing to develop a marketing plan can result in budget problems, low customer volume, and, in a worst-case scenario, the closure of a business.
What happens if a marketing strategy fails? ›
Marketing strategy failures can lead to excessive customer dissatisfaction. Here are some strategy failures that you can learn from. A lot of resources go into marketing plans each year, by businesses big and small.
What happens if a business does not have a marketing plan? ›
A marketing plan is the driving force behind your sales. Without a plan, you weaken your sales efforts. Yet so many small business owners choose to jump straight into action without a plan in place – employing unplanned and inconsistent marketing activities that are as a result, ineffective and disappointing.
