Does every marketing channel work for your business? No, they don’t?
Every marketing channel is diverse in nature, so is your business. Not every marketing channel is gonna work for your business. Just because one company experienced a massive ROI, it doesn’t mean that your company is going to experience same comparable return through the same marketing media.
Reasons are numerous. B2B marketing channels are diverse, and each comes with its own strengths, weaknesses, budget constraints and time commitments.
Smaller companies with limited personnel which does their own marketing and advertising don’t have enough time to manage and optimize several channels. Not every audience wants or needs the same products. The cost varies between channels. Online advertising is the key, but experiment because not everyone follows through.
Did you get my point? If not let’s get into detail.
- Low budget, high deliverability
How would you react if your adopted marketing strategy is delivering a $20 cost per acquisition, but the other one with same results does it at $5 CPA?
Well, I would settle for the second one. There are plenty of ways to market your business online. But the generic solution is to evaluate and check because not everything will deliver a CPA that makes financial sense. You have to pay very close attention to your data and frequently optimize it. On the other hand, it’s also important to know when it’s time to abandon one channel and focus on more promising marketing opportunities.
- Distinct Audience with Distinct Intent
Some marketing channels are just irrelevant — if you are a B2B SaaS company, then LinkedIn is an option, but advertising consumer health product there would be a complete waste of your budget. You can project your products on Facebook ads to put your offer in front of an audience that is likely interested in what you are selling.
Eventually, your customers’ need differs and you need to project or promote your brand as per their needs.
- Lack of time to adopt all marketing channels
None online advertising offers a “set and forgets” option. Each of them requires constant monitoring and optimization. Most large brands have engaged a large online marketing team in-house or hired a digital agency. Larger brands wish to be visible on every channel; it’s a part of their branding play.
Very often small companies with limited staff or solopreneurs don’t have the time to manage and optimize several marketing channels. These companies require identifying one or two options that have the potential to scale. Often, it’s smart to focus on Facebook ads and AdWords pay-per-click campaigns, as both features virtually unlimited scaling opportunity.
It’s always better to ask yourself two questions, who is your customer and where do they spend their time? The answers to these questions will show you the best places to market your business. Once you’ve figured this out, go all in on this marketing channel and master it.