Why does your company need a business – brand – and digital marketing strategy?

We cannot deny that data and its analysis, as well as the online technological background, are an important part of our daily business lives. Specifically, that it measures and provides insights into our business plans, which must include an appropriate online marketing strategy as well.

All businesses, large and small, that want to adapt and reap the benefits of technological transformation must ensure that they understand the needs of their data, technical background, social media platforms, and employee talent.

Using the right technological background and tools allows them to work smarter and less hard with the necessary back-office work. Allowing them to focus more on their niche.

As a result, an executive summary, products and services, marketing strategy and analysis, financial planning, and a budget should all be included in a good business plan.

Art galleries and art studios have the same business goals as any other business, so they must have a successful digital business model that is calibrated to adapt to changing technological backgrounds.

A strategy identifies the most advantageous course of action for a company to take over a specified time period.

As a matter of fact, digital thinking is incorporated into marketing strategy from the start of the growth business model. Why do businesses require an effective business, digital marketing and branding strategy? 

Business strategy is the answer on the further questions:

1)     What obstacles are impeding revenue growth?

2)     What kind of business objectives should we set in order to increase revenue?

Branding is the added value in this equation. The brand justifies why and how the company adds value to people's lives. How does it improve that?

Marketing is the process of creating and satisfying demand for a product or service. This demand, with the right strategy, should translate into sales and, eventually, revenue.

No business can thrive in the long run unless its goals and visions are aligned. Why is a digital marketing and communication strategy required?

Digital marketing is not only just social media.

In marketing, strategy considers the context in which the company and its competitors operate and outlines key ways for the company and brand to gain an advantage and add value.

Based on the business-brand-marketing strategy triangle, there are more interactive mediums for advertising and platform created presence in the online world. Furthermore, with the proper measures in place to channel our resources based on strategy, more customers or potential customers are available in a fraction of a minute than is ever possible in the offline world.

Therefore, more visibility with the right strategy will accumulate on the revenue.

This strategy triangle is important to understand because buyers are looking for trustworthy partners to help them achieve their objectives. Whether it is to start or expand an art collection for investment purposes, or simply to decorate their home with visually and financially sustainable artworks.

The tech backgrounds

Technological advancement is a social and economic process. New technologies enable entirely new ways of meeting existing needs while also significantly disrupting existing industry value chains, resulting in the creation of new platforms and markets.

Technological advancement is accelerating faster than it has ever been. Since the 1990s, the Internet has only been available for personal use. Meta (Facebook) has been around since 2003, and Instagram has been around since 2010. (ca.1.074 billion users). These platforms are already obsolete; there are numerous other platforms that are expanding and providing better solutions to customers.

Nonetheless, with the technological transformation, the Web3 (or Web 3.0) is already creating new platforms for business, and many businesses today are still not even adapted to the Web2 platforms. Until Web2 is centralized, Web3 is powered by decentralized blockchain technology.

What you might miss out on in terms of technology?

Because of access to global digital platforms for R&D, marketing, sales, and distribution, can oust well-established incumbents faster than ever before by improving the quality, speed, or price at which value is delivered.

Growing transparency, consumer engagement, and new patterns of consumer behaviour (increasingly built on access to mobile networks and data) are forcing companies to adapt the way they design, market, and deliver products and services.

A key trend is the development of technology-enabled platforms that combine both demand and supply to disrupt existing industry structures, such as those we see within the “sharing” or “on demand” economy. These technology platforms, rendered easy to use by the smartphone, convene people, assets, and data—thus creating entirely new ways of consuming goods and services in the process.

The development of technology-enabled platforms that combine demand and supply to disrupt existing industry structures, such as those seen in the "sharing" or "on demand" economy, is a key trend. These technology platforms, made simple by the smartphone, bring together people, assets, and data, resulting in entirely new ways of consuming goods and services.

Based on these metrics, a company will struggle to grow its revenue if it does not have clear digital communication.

What outcomes can be obtained by developing and implementing an effective strategy?

There are approximately 5 billion active internet users on the platforms, with approximately 1 billion active users on Instagram alone on a monthly basis. With these measures, we can even reach the 0,0001 percent of the market, which means we have a relevant profit increase opportunity.

We must employ inbound and digital marketing strategies.

Inbound marketing, which begins with a goal in mind and then selects the appropriate tools to achieve it, provides structure and purpose for effective digital marketing efforts, ensuring that each digital marketing channel works toward a common goal.

In either case, the main goal is to effectively reach target customers, and then determine where in the sales funnel that should occur.

What should you implement?

For these, we must ensure that all digital marketing types are used in a planned and efficient manner in order to effectively reach target customers, and at what stage of the sales funnel that should occur.

Finally, from small to large businesses, a well-structured, data-driven business – brand – marketing strategy triangle can generate long-term revenue growth.

Digital marketing isn't a magic wand. It is a line of work. Its effectiveness and power are derived from professional strategy and execution.

If you only take one thing away with you, make it this:

A good digital brand communication adds value. Added value generates product demand. Product demand generates revenue.

 

 


Boglárka Timár
Author:
Boglárka Timár

Boglárka is the founder of Sybil Art Tech – Business Consulting, a dynamic, customer focused, data-driven digital solutions provider for digital business & marketing transformation for art galleries, studios and collections.
We have specialized experience developing coordinated technological background and digital marketing solutions. Our aim of serving our customers in focusing on their main niche while creating value on the art market, and freeing themselves from the burden of inefficient operation and communication procedures.