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What You Should Include in Your Startup’s Digital Business Plan

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Going digital in this day and age isn’t so much a choice as it is a necessity. Startups and businesses are now finding it crucial to adapt to the demands of a technologically savvy consumer base through the employment of digital solutions. In fact, proactive founders are altering their business models and refining their digital operations to maximise their growth potential. This means implementing strategies to put these plans into action, all of which can be achieved through an effective digital business plan.

A startup’s digital business plan is an extension of your regular business plan that details digital initiatives and strategies. Having a digital business plan for your startup will give you the strategic focus needed to achieve your objectives. Not only will it give you clarity and direction, but it will also foster investment opportunities. Angel investors and venture capitalists like to see the likelihood of earning a return on investment (ROI). Developing a digital business plan will demonstrate that you have a plan and that you are on a clear pathway to success.

 

What Needs to be Included in your Startup’s Digital Business Plan

Vision, Mission, Goals and Objectives

As a founder you should incorporate your core mission and vision for your digital strategies, including the principles and values that underlie them. Goals are also important as they steer you and your startup team in the direction you want to be in. Under the goals section of your digital business plan, you should outline a metric for success so that you are tracking the progress of your goals. 

Content Strategy

Your startup’s digital business plan should contain a content strategy to outline the management of your website’s content. This should include tactics to attain maximum visibility through search engine optimisation (SEO), articles or blog posts, and semantically related terms. Each of your social media platforms will also need a content strategy, particularly if you want to increase engagement across your channels. 

An Analysis of Your Online Presence

Reviewing your startup’s online presence is vital if you want to gain traction and business through your digital networks. Most startups operate digitally now so if you’re not optimising your online presence, you could be missing out on valuable business. Assessing your startup’s social media channels like Facebook, LinkedIn and Twitter will assist you in determining whether you will need to alter your content marketing strategy. You should also be assessing your Google presence regularly. Can new clients find the location of your startup? Do you need to push for more Google reviews? 

Digital Marketing Strategy

Having a digital marketing strategy in place will boost your startup’s growth. The right digital marketing strategy for your startup will depend on your offering. Generally, the utilisation of email marketing and social media marketing will offer a positive ROI and should ­– depending on your following – encourage client engagement. According to research, an overwhelming majority of marketers confirmed that social media initiatives increased exposure for their companies. Unfortunately, founders can find the act of implementing these initiatives and knowing where to start challenging. Having a digital marketing strategy clearly outlined within your startup’s digital business plan will provide you with much needed direction. 

File and Data Management

Your startup’s digital business plan should cover how you plan to store and retrieve internal information and client data. Cloud-based file storage can be used to manage projects, collaborate, and share files. Integrated customer management systems (CRM) can also be used to manage your interactions with clients. A CRM will assist in compiling and organising client data and will provide customer service and customer support functions. CRM programs like Salesforce are typically available on a subscription basis.

Need Help? Contact Us 

At Allied Legal, we provide smart advice to startups and innovative businesses. If your startup needs assistance with a digital business plan, or if you’re looking for legal help, you can connect with one of our startup experts on 03 8691 3111 or send us an email at hello@alliedlegal.com.au.  

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