How do these marketing channels stack up?
There are A LOT of different marketing channels out there. What are the pros and cons of some of the common ones?
There are over 3.8 billion people on social media around the world. Social media is a fantastic way to connect with customers, build brand loyalty, and generate sales.
People don’t just want to buy from companies because they have good products and services. They want to know what your brand stands for in addition to what it sells. Social media can help potential customers get to you. Social media feel like a 1-on-1 conversation between the brand and consumer, which helps build loyalty.
A lot of the value from social doesn’t show up immediately. It’s rarely simple to track social media’s ROI. Often the goal of social media is not just to generate sales but instead to build connections. Without measurable results, using social media can be discouraging.
Often it a brand’s only way to communicate with customers and can feel very one on one. A lot of millennial and gen z’ers expect to communicate with brands through email. Also, pretty much everyone has email so you know you will be able to communicate with people through email.
We all get so. many. emails. Most office workers receive 127 every day. It can be hard to stand out from the crowd. People don’t have time to read emails that don’t actually provide them value.
Email marketing also has a lot of laws and rules connected to it that can hurt you if your aren’t careful!
Customers often rely on a business’s website for information. Especially for local businesses, it can be the only way to know a shop hours or address. Putting the information on a website instead of a social media or directly in a browser legitimizes the information.
Good SEO gives your website credibility. It makes it easier for people to find your website when they search for it. And it helps create a smoother user experience.
Bad SEO can hurt you. Most searchers never go past the first or second page of Google, though, which is why those top spots in the search results are so coveted. Having the proper SEO can prevent your website form getting organic traffic.
53% of all trackable website traffic comes from organic search. SEO is the main thing influencing how easy it is to find you online organically. Which is probably why it’s estimated that agencies and brands spent over $79.27 Billion on SEO services last year.
Where are people? On their phones. So, google ads is an extremely effective way to find people where they are. Google ads is great for brand awarness as well as retargeting. It is great if you want measurable results and analytics.
Billboards, signs, posters, newspapers, and magazines all exist with in different physical spaces. With digital advertising however, we are all competing for the same ad space. That ad space is worth more now has less guarantees attached to it.
Trying to figure Google ads can feel like rocket science. There’s a large learning curve and it can a while to feel confident in the set up.
Print and Mail
Direct mail average open rate is somewhere between 68 and 90%, which is double, triple, or quadruple the average open rates of other marketing channels. Do people who open direct mail actually purchase? Yes! On average people who receive direct mail purchase 28% more items and spend 28% more money!
Why is direct mail so effective? It comes down to fact that we (humans) like getting mail. 41% of Americans of all ages look forward to getting their mail every day. We still want very real things in our hands, which is something totally lost in email inboxes or on social media. That tactile connection translates into 💰.
Since Direct mail requires use of the postal system it has fixed costs. The graphic design of the mail piece may also have an additional cost. Using direct always requires a bit of math and if done wrong can hurt your ROI.
It’s not always possible to see direct, measurable results, from Direct mail campaigns. And if you can measure results, it may take a while to get the full picture.
Another thing that can be a disadvantage to direct mail is that you need a really good foundation of address data. The problem us that a lot of data providers don’t make sure that their data is accurate and that hurts the effectiveness of your campaign.
TV is a time-tested advertising channel. Although it’s a lot less common than it used to be, it can still be very effective. Many marketers are using CTV (connected TV) or OTT (over-the-top) channels to target consumers using streaming services and connected TV devices such as Hulu and Roku. Advertises are embracing these platforms as more and more ad space becomes available. Spending for CTV advertising is expected to grow from $6.94 billion in 2019 to $8.88 billion in 2020, a 28% increase.
With customer attention spread so thin and cable tv subscriptions consistently falling, (over 16 million in the last five years) there’s a lot less advertising space available. Content consumption is at an all-time high and therefore, competition for viewer’s attention is as well. 84% of marketers say that it is getting harder to grab a consumer’s attention with television advertising alone.
Audiences today expect personalized and relevant targeted ads. Linear TV (cable and network television) often fall far behind in targeting capabilities. Therefore, it can be a challenge for advertisers to figure out how to integrate linear TV into their campaigns.