Digital marketers have a wealth of methodologies, tools, technology and marketing channels available to them today. In fact, it’s somewhat overwhelming. It takes a great deal of time, effort, and resources in order to market and maintain a solid presence on every channel. But the truth is it might be unnecessary to use every channel…
Not every marketing channel is going to work for every business. Just because one company makes a particular channel work for them doesn’t mean it will work for another or that another company will see the same results.
In fact, by using multiple marketing channels, you might even be putting your business at risk. Read on to learn more about the risks behind using multiple marketing channels, and why digital channels should be the primary focus of your marketing strategy.
The Risks of Using Multiple Marketing Channels
In our world of online advertising, there is no online strategy that you can “set and forget”. Every channel and strategy requires constant monitoring and optimization to drive results.
However, most businesses do not have the in-house resources to keep up with this particular strategy, nor can they afford to hire a digital marketing agency. On the other hand, larger brands want to be visible on every channel – and have the large budget to do so.
For example, smaller companies often have limited staff and many solopreneurs typically do their own marketing and advertising. In both scenarios, no one has time to manage and optimize multiple channels. In fact, this often results in entrepreneur burnout.
However, regardless of the size of your business or your marketing budget, the truth is that trying to use every marketing channel has a higher risk of resulting in poor ROI. The odds are that there is one specific channel in the marketing mix that outperforms others. This is because this is where the brand’s audience hangs out, and where they truly benefit from that brand’s message. and can even mean burnout for entrepreneurs.
The Importance of Analyzing Marketing CPA
Rather than trying to “man” every marketing channel, it’s best to focus on the channel(s) that are actually working for your business. This data can easily be captured through studying analytics software or system. For example, it’s best for businesses to pay attention to the cost-per-acquisition (CPA), which can vary drastically between multiple channels. The key is to experiment and “test the waters” to accurately determine your CPA. By focusing on this you will learn very quickly when it’s time to give up one channel and focus on those that make more financial sense and that yield more marketing opportunities.
Turn On the Digital Channel
Most businesses and brands will find that those that use digital signage or digital displays to blast marketing messages yield the highest results. This is because digital signage utilizes augmented technology to enhance the viewer’s experience when an ad comes to life. Digital ads that are powered by digital signage have proven to be more effective than static advertisements.
So if your business or brand utilizes digital signage or digital displays as one marketing channel, the benefits and ROI are likely higher than other channels. For example, many businesses feel the need to maintain a heavy and solid marketing presence on every social media site out there, however, as mentioned above, this just leads to burnout, and high ad spend that isn’t yielding high results.
However, by taking the time to learn your audience and which social media site they hang out on most, you can easily take this information and create a digital signage campaign that is tied to these social channels, making one powerful strategy that is destined to convert.