What are the key steps to evaluating a digital strategy?

Based on my decade of experience in developing digital strategies for various enterprises and governements worldwide, it's crucial to start with the defination & understanding of What , Why , Who & How . 1. What do you want to achieve? Define specific goals, whether it's boosting online sales, or fostering customer engagement. 2. Why is it important? Recognize the significance of your objectives in alignment with broader business goals.understanding how achieving them contributes to overall success. 3. Who are you targeting? Identify your target audience, including their needs, preferences. 4. How will you measure success? Establish clear, measurable key performance indicators (KPIs) to track progress.

Set Clear Goals: Define specific objectives for your digital efforts. Map the Full Funnel: Consider the entire customer journey. Define KPIs: Identify measurable indicators of success. Optimize Continuously: Regularly refine your approach. Monitor ROAS: Track your return on ad spend.

A good framework for evaluating your digital strategy, pre campaign launch, is... 1) Am I reaching the right people? 2) Am I saying the right thing? 3) Are those 2 things happening in the best place to maximize impact / ROI? 4) Do I have the confidence that all 3 will achieve the intended goal? 5) Is there alignment on how we are measuring against the intended goal? You need a check in the Yes column on all 5...

I ask people 'what metrics do you need to measure?' at the end of a 2-Day SOSTAC(r) Masterclass (the 'Control' section). They go into groups and come back with long lists. Then they hate me - when I tell them that all they need to measure is whatever Objectives (Key Permance Indicators) they agreed to the previous day when we discussed Objectives. NB Always split between Marketing Objectives/KPIs ('action -based' objectives e.g. sales, enquiries, conversions, visitors, cost per acquisition/retention etc.) & MarComms Objectives/KPIs ('Mind-Based' e.g. awareness, preference, loyalty, NPS scores).

Let's cook. You need the right ingredients (metrics), a keen taste (analysis), and an understanding of what your diners (audience) crave. Be sure to select your ingredients wisely. The classics (Impressions, Engagements, Views) are always a good starter for those outside the industry. However, be sure to focus on using Engagement Rate Percentage to determine if what your creating is actually building value for your company. Most industries go with the standard 4.5% ERP as a successful post. Once you find yourself around below the 2% mark you may want to go back to the cutting board and revaluate your tactics. But if it's more than one post that's below the mark then it's time to take a look at your entire strategy.

For robust digital strategy evaluation, choose metrics corresponding to your specific SMART goals and overarching business objectives. Track customer engagement from initial contact to final sale, ensuring data is precise and actionable. Balance complex numbers with qualitative feedback for comprehensive insights. Focus on financially oriented metrics like ROI to gauge economic impact and be ready to modify your metrics to keep pace with strategy shifts and market trends. Avoid superficial metrics, and always comply with data privacy standards.

Once the key objective of any digital campaign is locked it’s important to set the right metrics. For example, if you are looking to generate leads, then the cost per lead lead should be your starting point followed by lead quality. Use the best performing platform as your Point of reference and optimize every other traffic source to achieve the desired result

Selecting the right metrics is crucial for tracking progress and evaluating the effectiveness of your digital efforts. Focus on metrics that directly tie back to your objectives. Don't fall into the trap of vanity metrics. Instead, prioritize metrics that offer meaningful insights into your audience's behavior and the impact of your digital initiatives.

Relying solely on quantitative metrics can paint an incomplete picture of consumer behavior and market dynamics. To truly understand consumers and achieve product-market fit, incorporate a mixed methods approach combining quantitative data with qualitative insights. By leveraging multiple data sources you gain a deeper understanding of consumer preferences and pain points that may not be captured through numbers alone. Actively involving them in the data collection process through co-creation initiatives, user testing, and feedback loops provides invaluable insights. This approach helps bridge the gap between the numbers and the real-world experiences of your target audience, uncovering hidden opportunities and areas for improvement.

Analyze, analyze, analyze. If your evaluations spark more questions, do deep dives and check reporting in those areas as well. Unless you truly know what's happening, you can't improve the problem. I'd also question the validity of the data. Can you be confident in making assumptions based on the data that you have? Are all your tools set up the right way? Are you missing a big piece of the picture and making decisions with a data from a small subset of the audience instead?

Data analysis , is based on the digital platform and how structured and unstructured data can be contextually relevant, based on the KPI. Investment will be important for scalability. Analytics can be simple to begin with and most importantly realtime/ near real-time based on the merit of the case.

Before analysing your data, don’t forget to check it and clean it. When reviewing it, ask yourself: “does it make sense?” If anything looks odd, double-check the data is correct and represents what/who you want to measure. In my experience, there are surprises at times, so best not to assume that the data is accurate before analysing it, as you may end up with incorrect insights leading to unhelpful recommendations that may steer your strategy in the wrong direction. Remember: data is only useful if it is good quality data, representative of what/who you are interested in measuring.

Evaluating a digital strategy is essential to measure its effectiveness, identify strengths and weaknesses, and optimize performance. Here are the key steps to consider: objectives (Smarter), relevant metrics (lead generation and website traffic), data - collect, analyze and reevaluate after compared to baselines, report and communicate results for stakeholder’s awareness and improvements, implement and test changes as an ongoing process. Please remember we are building products and services for clients and how valuable is their contribution to the whole customer journey.

When it comes to evaluating a strategy, the key is to know your audience, who will be reading this? - For the business owner, CEO, or board they need to see top-level stats and how they tie into the business goals - If it's for your line manager and marketing team, they need to see in-depth stats and knowledge on what worked and what didn't work The report must have: 𝐠𝐫𝐚𝐩𝐡𝐬, 𝐭𝐚𝐛𝐥𝐞𝐬 𝐚𝐧𝐝 𝐯𝐢𝐬𝐮𝐚𝐥𝐬 to show if the goal/KPI has been achieved. We process visuals faster than text. 𝐚𝐜𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐝 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 - bullet point an insight followed by an action based on the data. Why did you miss the KPI by 10%? What worked well that you overachieved the goal? Providing team training can be helpful here.

Effectively communicating results is pivotal post-data analysis. Craft clear, concise reports highlighting key findings and recommendations. Utilize visual aids for enhanced engagement and comprehension. Tailoring reports to audience needs ensures impactful communication and fosters understanding.

Evaluate ROI (Return on Investment): Assess the return on investment for your digital activities. Calculate the costs associated with the strategy and compare them to the achieved results. This analysis helps determine the efficiency and profitability of your efforts.

Key considerations should be given for the digital communication strategies, leveraging on the platforms to maximise impact. Establish a clear understanding which platforms are relevant to achieve your objectives.

Este é um ponto onde a maioria das empresas falham. Empresas como modelo organizacional verticalizado, é comum as informações estarem desfragmentadas por departamentos e como a maioria das empresas tem seus departamentos preocupados em resolver os seus problemas e não da empresa, a maioria dos "reports" demoram a chegar em quem precisa tomar uma decisão rápida e precisa, para extrair os melhores resultados da estratégia adotada. E tomar decisão baseado em informações ultrapassadas é muitas vezes pior do que não tomar decisão nenhuma.

An agile and flexible digital strategy allows an organization to adapt quickly to changes in the market or business environment. This includes changes in customer preferences, competitive landscape, or technological advancements. Agility and flexibility often involve taking an iterative approach to strategy development and implementation. This means being open to experimentation, learning from failures, and making continuous improvements based on feedback and data. And for testing the changes, one should first determine the objectives & key metrics to measure the impact of the changes. And then if possible, use split testing which is also known as A/B testing to compare the performance of the changes.

User Experience (UX) Assessment: Evaluate the user experience across digital channels. Consider factors such as website navigation, page load times, mobile responsiveness, and overall usability. A positive user experience is essential for achieving digital strategy goals.

In the digital realm, user experience (UX) is pivotal. When implementing and testing changes based on data analysis, prioritize those that enhance UX, as this often yields the highest value. Allocate resources to iteratively test these changes, using A/B testing or user feedback for real-world insights. The PDCA cycle ensures a structured approach to refine UX and development continuously. A dynamic digital strategy thrives on adapting to user behavior and technological trends, requiring ongoing evaluation and adjustment.

To implement and test changes in your digital strategy, adopt an agile approach: begin with minor, incremental modifications based on data-driven insights and user feedback. Use A/B testing to compare outcomes, employing analytical tools to track the performance of these adjustments against established KPIs. Engage in continuous monitoring and rapid iteration, enabling quick pivots as needed. Document each change and its impact, ensuring a transparent trail for future reference. This method ensures that your digital strategy evolves effectively, remains competitive, and consistently aligns with your overarching business goals.

In the digital realm, user experience (UX) is pivotal. When implementing and testing changes based on data analysis, prioritize those that enhance UX, as this often yields the highest value. Allocate resources to iteratively test these changes, using A/B testing or user feedback for real-world insights. The PDCA cycle ensures a structured approach to refine UX and development continuously. A dynamic digital strategy thrives on adapting to user behavior and technological trends, requiring ongoing evaluation and adjustment.

I will add “Know your customer”. A critically important ingredient to a successful digital strategy that generates successful outcomes.

Evaluating a digital strategy involves several key steps. First, clarify objectives and align them with overall business goals. Assess the target audience and ensure the strategy addresses their needs. Next, evaluate the chosen digital channels and technologies, ensuring they align with the target audience's preferences. Monitor KPIs regularly, tracking metrics like website traffic, conversion rates, etc. Assess the user experience across platforms to optimize accessibility. Evaluate the budget allocation for digital initiatives, ensuring a balanced investment in various channels. Conduct regular reviews and adapt the strategy based on changing market dynamics and emerging trends. Lastly, solicit feedback from customers and stakeholders

I will like to add: To iterate and optimise.Use the insights gained from the evaluation to refine and optimise the Digital strategy.Make adjustments to tactics, messaging to improve performance and better align with Objectives.

In addition to an upfront understanding of your objectives aligned to business goals, having the data infrastructure to track full-funnel activities and KPIs all the way through to client acquisition and ROI is the key driver of truly evaluating your digital strategy. This will answer the question of whether or not you are attracting the right customers at the top of the funnel, optimizing ad spend and conversion, and the ability to move them along the journey.

One thing I have found helpful is benchmarking Benchmarking allows you to compare your digital strategy’s performance against industry standards, best practices, and competitors. This helps you understand how well you’re doing relative to others in your industry and identify areas where you may be lagging behind or excelling.