One of the main challenges for many business owners is choosing the right channels for their marketing efforts. There are just so many channels available today, especially given the massive growth of online channels. Many small to medium businesses can’t support a full-time specialist marketer, so how do you pick your way through the clutter to find the channels that will give you a good return on investment? Here’s a guide to help you on your way.
What is a marketing channel?
A marketing channel is simply a platform or tactic used to communicate your marketing message to your clients and potential clients (target audience). The essential principle that underpins all marketing is this:
Identify your customers’ needs and wants
Find the right channel to reach your target market
Send your marketing message
What channels should you consider?
With so many choices available today, it can be hard to select the right marketing mix. Your marketing mix simply means the channels you select to broadcast your message. These will be based on your marketing budget and other considerations.
Two terms you should familiarize yourself with when selecting marketing channels are frequency and reach. Frequency refers to the number of times your message is shown. Reach refers to the potential size of your target audience. If a channel doesn’t reach your audience, or get your message across often enough, it’s not right for your mix.
What channels are available?
Here is a basic partial list of traditional and digital channels available for consideration:
Offline: TV, radio, billboards, print advertising (e.g. newspapers and magazines)
Online: Social media, SEO, Google Ads, email marketing, banner ads
How to determine the best channel fit?
As you research the channels available, ask yourself the following questions.
Does it reach my target audience?
Does it allow me to effectively communicate my message?
Is it complementary or contradicting the other channels I’ve chosen?
Does it suit my budget and resources?
Can I measure how well it performs?
Consistency of message is key to success
Once you’ve selected the right mix of channels, make sure your message is consistent across all platforms. A good marketing mix uses many channels to keep your message top of mind with your target audience.
Measure, measure, measure
Failing to measure the effectiveness of your channels and their ROI is a mistake made by many, including experienced marketers on occasion. The five key measurements of success are greater brand awareness, lead generation, sales generation, customer education and traffic (for digital channels), and advocates (for traditional channels).
If any channel isn’t providing you with any positive return on investment (ROI), try to find out why and if you should continue to include it as part of your marketing mix. Get the mix right, and you will see positive results. Get it wrong and you could waste a lot of time and money.
If you want more information, especially about digital channels, feel free to get in touch.
