Chris: And then set some realistic goals of where you're gonna get to?
Matt: Yes, you may not have any of these stats yet but certainly after a short amount of time if you're a startup you should be able to see what traffic you are getting. You should know how many Facebook followers you have. You can run your site through tools such as Moz to find out what your domain Authority is. So you should have a base starting point and then you can set yourself some realistic goals that will help you achieve the traffic and conversion you need to get that return investment. It's pointless if you're getting 1,000 visits (example) to your website a month and you have a budget of 500 pounds, to say “well I now want five million visits to my website a month”. It's not a realistic goal so the sums should really help you set those goals to be realistic.
Chris: Yeah and on the journey we then reflect on them and adjust our strategy to keep going?
Matt: I think certainly when you start out and you've built your first ever strategy, you're going to be wrong (probably). After the first two or three months you're going to have a much clearer picture of how that strategy is working and whether your assumptions were right; so you can use the data to refine the strategy.
Chris: So is that how long you need to wait between changing things? Like a couple of months? Three months?
Matt: You can vary, it depends on how much budget you have. If you really throw a load of budget really early at the start you're gonna get the numbers back to be able to make some quality decisions. If you're starting with a fairly small budget then it's probably going to take longer for you to be able to make some decisions based on the amount of traffic you're getting. If you're basically through organic and paid buying yourself 1 million hits, or 1 million visits, 1 million sessions, however you want to call it to your website, you've got a lot of data to work with there. You've got a million units to measure. Whereas if you're just putting 10 pounds in and you're buying just a couple of hundred people (visits) it's harder to make those decisions.
Chris: Hmm, all very useful information, Matthew.
Matt: Thank you very much, Christopher.
Chris: I'm going to go off and sell a lot of hats now.
Matt: Yeah, I think you should.
So importantly there's probably some sort of document under here. Perhaps it's our own example of a digital strategy that you can use as a template. We generally do these things and then make up the content afterwards so who knows what's down there it could be anything…….RUN IT’S A SHARK!
Rusty Monkey Digital Strategy Document (pdf - link)