In the world of marketing channels, there’s a lot of talk about multichannel and omnichannel.
As important as it might be to connect with your audience in as many ways as possible, this doesn’t mean you’re going to get a high ROI from every channel.
Additionally, mastering every channel is difficult. Doing so may also not be in your best interest. For each small business, some channels are better than others.
So, determining your marketing channel mix is crucial to the success of your marketing strategy.
But how do you pick the right marketing channels for your business?
Identify Which Marketing Channels Are Working for You Right Now
Unless you’re starting your business from the ground up, there’s a good chance you’re already using several channels to market your business.
So, what’s working? What isn’t?
If you’ve only been at something for a month, it might be hard to tell. But if you’ve been utilizing specific channels for a year or longer, you should have enough data to work with.
Start with the channels that are already working with you, as it may help you identify other similar channels you have yet to take advantage of.
Be Mindful of Your Business Model & Which Marketing Channels Are Commonly Used
FE International notes that there are essentially seven types of online businesses. They are:
- Lead Generation.
Each of these business models is dependent on specific traffic channels. Being aware of what these are will help you bypass a lot of trial and error and get straight to the point.
But be aware that a business that’s too dependent on organic search traffic is always at risk. You never know when an algorithm update will come along, wiping out a bunch of your rankings and traffic with it.
Look at Industry Trends & Benchmarks for Relevant Marketing Channels
Take time to study relevant industry whitepapers, reports, stats and case studies. There’s a good chance you will discover precisely what channels companies in your industry are using to reach their target audience.
Also, be open to the possibility of innovating. There may be channels people in your industry aren’t using but could be using to boost their lead and sales generation efforts. Be mindful of potential opportunities.
Make a List of Marketing Channels to Test & Experiment With
Do your research, but don’t get caught up in analysis paralysis.
Once you feel you’ve got a good idea of what channels are working for you and what others in your industry are doing, start experimenting.
Test out various channels in 90-day intervals and see what kind of results they generate for you. Go for longer if you’re unsure.
So when it comes right down to it, every channel requires testing, so begin tracking the metrics that matter most to you with every marketing campaign and initiative you launch.
Discard the losers and keep the winners.
If you’re tracking and measuring everything you do, you should be able to gain a clear understanding of which channels are proving most effective for your business.
You can eliminate unnecessary expenses by cutting off channels that aren’t performing well and increase your ROI by doubling down on those that are proving useful.
How do you determine which channels to prioritize? Are you continually looking for new ways to promote your business? And what channels have you experimented with and what were the results?
So please let us know in the comments below.