A digital media strategy for a business consists of using digital channels in company advertising and communication methods. Digital media channels include “search engine marketing, social media marketing, email marketing, display advertising, public relations and partner marketing.” Having a strategy for the business objectives helps to figure out which of the channels mentioned would be most efficient to use. Strategy is key to keeping on track and allocating resources to meet your business objectives and overcome challenges.
A strategic plan is based on research of the target market, market share, and competitors. “Digital strategies require the setting up of business goals and the initiation of campaigns, which can be anything from gaining more customers, raising brand awareness, lead generation, or boosting sales. These will ensure that monthly, daily and annual goals are being reached.” A part of a strategic plan is a timeline for evaluating the outcome metrics to see if goals are being met. If the strategy is not reaching the goals the business can shift its resources and create a new strategy that works best.
Paid, earned, and owned media are important tools in a digital media strategy to maximize impact. Paid media are the third parties a company pays to promote its product. An example would be an influencer you compensate for giving a review. Owned media are the digital channels it uses to promote its product. Earned media is the organic promotion of a product from users that were never paid. Earned media can consist of reviews or user-generated content. Utilizing these media channels can broaden the awareness of a brand and obtain the business objectives.
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