Online Marketing Strategy For Online Stores
To establish an online marketing strategy for our electronic commerce, we will follow a structure in which we will begin with an external and internal analysis to diagnose the current situation in which we find ourselves. Then we will define a series of objectives that we want to achieve with the plan, and we will define the strategy to follow through different actions. Finally, we carry out a control, follow-up, and contingency plan to solve possible errors that may arise during the campaign.
Table of Contents
First Phase
Analysis Of The External Situation
In this first point, we will analyse the non-controllable elements that determine the environment of our online commerce. It is a review of the macro variables of recent years and forecasts for the next three years. It is important to carry out an analysis of the market (what are the entry and exit barriers) and to carry out an analysis of the competition and users to find out the different roles each one plays.
Internal Situation Analysis
The value perceived by the user must be pursued in all its facets:
- In the product
- In the price
- At service
- in identification
A successful company is recognized for its ability to create value and modify it as needed.
Second Stage
Objectives
Before defining the strategy, we must detail the objectives we must contribute to. We need to clearly define where we want to go to know if the chosen path is correct. The objectives can be of a qualitative or quantitative nature. To establish an online marketing strategy for our electronic commerce, we have to be clear about what we want to achieve with said strategy, for example:
Quantitatively:
- Increase the conversion rate by X% = number of transfers/visits.
- Increase revenue per visit by X€ per sale = total revenue/visits.
- Increase the average amount per order by X€ per order = total revenue/number of sales.
- Increase the number of transactions per “day/week/month.”
Qualitatively:
Notoriety and image of the product, service, or brand.
- Acquisition of new clients.
- Recovery of lost customers.
- Achieve greater territorial coverage.
- Give more rotation to a product.
- Loyalty customer portfolio.
Strategy
The strategy is the course of action to achieve the planned objectives. This strategy can refer to the product, the positioning against the competition, the market…
Third Phase:
Action Plans
This is the most dynamic phase. A strategy must be translated into concrete actions, designate a person responsible for monitoring plans and deadlines, assigning resources, and evaluating costs. At this stage, it is a question of specifying the actions that must be implemented so they do not remain in mere guidelines. About Communication:
- Carry out specific campaigns: in this case Marketing Online.
- Media selection: search engines (Google, Bing, Yahoo!…), social networks (Facebook, Twitter, LinkedIn), email, affiliates, references.
- Determination and allocation of budgets.
- Contact with media agency, creative.
Control And Monitoring
It involves the identification of parameters, ratios, or measurements that indicate whether the forecasts set for the Marketing Plan’s success are being met.
Contingency Plans
How to act if the objectives set still need to be met? And from what point do they apply?
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