3 Core Elements of an Effective Online Marketing Strategy

The different types of online marketing tools and techniques available today can often be confusing on where you should start to get the most out of your efforts. Even though there are several ways to diversity your online marketing, here are three core elements of an effective online marketing strategy.

Online Marketing Suggestions and Strategies

Know your own business to determine your competitive advantage

Even though an effective online marketing strategy requires that you understand your competitors, it is more important that you understand yourself. What makes you stand out from the others? You must clearly identify your voice. Is it friendly and informative? It is casual or more professional? Even though you probably have a lot of great benefits, you should determine your one strongest and most specific competitive advantage.

Exactly, what are you selling? What are the most important features of your products or services? To be highly successful in online marketing, you must understand the underlying needs your products or services satisfy.

Clearly define your target audience

Many businesses make the mistake of assuming they already know their target market and just develop a “one size fits all” attitude toward online marketing. In order to know exactly what audience your products or services appeal to, you must first know them inside and out. What makes your products unique? Why does your existing customer base buy from you?

Once you have established what your business can do for people, you will better understand who will benefit the most. You can refine your search for that perfect customer by monitoring and engaging in social networks and by posting useful information on your blog and website.

Understand your competition to establish a unique selling proposition

In order to develop a unique selling proposition, you must clearly understand how your products or services compare with your competition in price, quality, service, and support. Are there any specific needs that have been ignored by competitors? Could you realistically meet them? Once you have developed your unique proposition, it should be one of the first things a visitor to your web site notices.

Whether your focus is on content marketing, social media marketing, or email marketing, your approach will change, depending on your company and the industry you are in. The key to making the right allocation of marketing funds is to understand your market and the pros and cons of each type of online marketing strategy.