Where should you invest your marketing dollars in today’s saturated and competitive online space? What are the most effective marketing channels for lead generation, brand awareness, or conversion? Understanding the best use of your limited resources is critical if you want to maximize your ROI, Here’s how to find the most effective marketing channels for your business.
There is no one-size-fits-all marketing strategy, It all depends on your business and your target audience, If you’re a tech company, then it may be better to focus on Twitter, If you’re a local business, then it may be better to focus on Yelp, If you’re in the food industry, it may be better to focus on Facebook ads, It doesn’t matter how hard you think you need to hit the media, you literally cannot do everything, The best you can do is just focus on what is scalable and effective.
Invest in the right channels for your business’ goals (lead generation, brand awareness, or conversion)
If you want to get the most out of your advertising dollar, you have to know exactly what your goals are and invest in the right channels for those goals, Here are three major channels for marketing today and how you can pick the best one for your business.
Google is your friend when it comes to keyword research, By utilizing your search history, Google knows what keywords become popular and its competitive position, Through your search history, methodically check for the most effective keywords that are high volume and relevant to your niche, Keyword research is not an exact science, so you don’t want to waste your time with canned keywords and buzz words, Remember, your goal is to rise to the top based on your search history and Google rankings.
Do a keyword search within your industry or area of interest, Often, you’ll discover that top organic search terms rank for a few words, Try to find the most competitive two to five-match terms and include them in your content or ad copy, These are the keywords you should focus your paid ads on, Your ads will run 10–15 times for every click you receive, When you list out your paid ad copy and keywords, you can see how effective each ad is likely to be, You can then target the ads according to your goals.
For example, let’s say you want to get more traffic to a website, You would create a landing page in Chrome and add relevant traffic-related keywords to the bottom of the page, The text of your ad copy probably reads something like: “mhausenblad.com: Become a traffic superstar by giving away no one free traffic,” So, this search query (or ad copy) would pay off to get the most traffic to your site, Your ad copy should be balanced and SEO-friendly, but you have to remember that evergreen keywords and analytical phrases rank too.
It’s important to understand what makes the most effective marketing channels different from the rest
Your marketing channels are the tools you use to get your message out there, There are a lot of different marketing channels to use out there, and it’s important to understand what makes them different from the rest, For example, if you’re a blogger, you might spend most of your time on a particular social media platform like Instagram or Facebook, When you’re starting out, some platforms might be more helpful than others, and some will be far more effective in getting you more traffic and conversions.
You don’t need to know how to code to determine the value of your social media channels, A study from Mediaize showed that only 3 of the 197 content marketing strategies tested were effective in increasing brand awareness and increasing customer referrals If you want to learn about how best to optimize your social media channels for conversion, check out our step-by-step guide, Fortunately, figuring out which channels are best for your business is relatively easy, There are a few key factors that you need to consider, When looking at which channels to invest in, here’s an overview:
- The idea is not to get overwhelmed with the options, they are likely to seem overwhelming but check them out for different niches and types of businesses.
- Consider all marketing channels when calculating the ROI because there are numerous different investment opportunities you might have.
- Determine which channels produce the best results without having to use lots of money.
- Spend your money where the ROI is the highest, If you’re being overwhelmed by all the choices, it’s likely because you are, Once you’ve identified which channels are effective, make a list of 2–3 channels you think could be used if you invested more.
- Use the most effective channels to capitalize on the greatest incentive to you, such as free traffic that might convert into customers or brand awareness that could potentially lead to higher sales.
Steps you can use right now to determine which channels are working best for your business?
1) Look at what you’re doing and ask yourself this question: “Is it working?” If you’re spending money on an advertising platform, and you don’t know whether or not it’s working for you, then you’re wasting money, if you’re running your own e-store or publishing your website, then you need to get data on exactly what the results are.
2) Now that you’ve identified the most effective channels for your business, you can evaluate the potential success of each channel, is installing links working for you? Is new content working for you? Are your offer prices selling or not? Are your ads converting or not? Do you need to add more content to increase your conversion? Keep reading this article.
3) When evaluating new channels, measure your results against your goals, Create KPIs to measure performance against, A KPI can be used as a customer loyalty score or understanding customer behavior at a more granular level.
4) Detailed metrics are useful, but averages are much more valuable (think of driving an average mile), You can use averages to compare one metric with another across different channels.
So, if you have a non-profit that’s been running a website sponsored link for about a year and you’re evaluating new media to try to increase traffic to the site, then you might determine that new blogging platforms or YouTube channels are more relevant, you’ll know that for certain! Once you’ve identified successful channels, what are you doing to monitor and improve those channels? Are you dedicating more time to new content? Are you giving up places on your website that are no longer working? Looking at the current landscape and the profitable channels, you can aggressively expand and optimize those channels; The groundwork for this financial and marketing self-help article about digital marketing is laid in an earlier post:
5) Marketing Strategies Entrepreneurs Should Consider Using to Promote Their Business Online,
The best marketing channels offer a good return on investment, but they don’t always have to be expensive or difficult to implement, These three steps will help you find some of the most effective ones, regardless of where you’re starting from today,
If you want to be a successful entrepreneur, you need to have a plan and a strategy in place to help your business grow, In this post, we’ve looked at some of the best marketing channels for small businesses, and how you can find the best ones for your business and implement them.
First, let’s start with some background on what a marketing channel is and how each of them works, A marketing channel refers to a type of system implemented to engage your customers and prospects on a specific electronic device (some marketing channels target individuals while others target businesses), A marketing channel requires some budget allocation for its implementation and ensures you have a better marketing experience for your customers
Since the costs in the marketing channel are divided between you and your customer, you need to decide which strategy you’d prefer for your business.
Before the channel becomes too complicated, you will want to do thorough research of your target audience’s needs to determine the best marketing channel for your business, Then, you should narrow down your channels depending on your goals, the priorities of your business, and the stage of your marketing process.
Small businesses, in particular, can benefit from watching digital trends and observing how users engage with different channels, For instance, social media channels such as Instagram have proven to be a powerful marketing channel that allows small businesses to have a direct exchange with their target audience, Instagram is not only endorsed by Instagram’s founders and included as a channel on Instagram’s Business page, but Verified Reviews also included YouTube and Pinterest as channels on Google’s list of business winners.
Furthermore, since these channels are simple to use, they don’t cost an enormous amount of money to establish and manage, As with any channel, it’s often best if you implement online content products (ex: YouTube channel) in addition to social media channels to attract consumers’ attention.