Every business owner should have a budget to spend on advertising, as it’s essential to profitability and growth. And according to recent statistics, that budget is 1 percent of annual revenue. Through using reliable advertising channels (such as video advertising platforms and other resources), it’s possible to reach new customers and gain awareness and a greater profit from your marketing campaigns.
But on the flip side, using the wrong marketing channels can actually lead to financial losses.
Confused? Here we’ll look at the different marketing channels and their pros and cons, so you can make a choice on which is the best platform for your business.
Top marketing channels:
PPC (pay per click) advertising
It is a model, where you are paid for each click of the users. The advertisers pay in order to place their adverts on a popular site with many users (who represent their target audience). The commission is paid to the owner of the resource each time the advert is clicked. In other words, in the framework of this model, you purchase the visits to your site; when users click on your link, they are transferred to your page. There are many advertising platforms working with this model:
It is the most popular resource in the world. With the help of it, you can place your adverts in Google search and other properties of Google. Thus, it is possible to reach people who are looking for a definite product on Google. There are services provided by many SEO companies for people who do not know how to do this or have the time.
It is another global platform, which provides you with effective promotion. This resource is less expensive compared to Google Ads. Thanks to the cooperation with Yahoo!, you can advertise your product on both platforms at the same time. There are also a lot of features for comfortable control of the campaigns. Thus, you can even create advert campaigns for various time zones. Bing is also known for great social media integration, which opens more opportunities for marketers.
In this case, the adverts are placed on popular and reliable resources with lots of visitors. There exist various forms of such adverts, for instance, images, videos, texts, etc. Such adverts might be placed in any part of the webpage. The key thing here is optimization. The content of the ad should be optimized for a certain target audience. The best solution is to link the advert to a landing page in order to let the users know more about a product or service. Display advertising is the best way to reach higher brand awareness. In this case, the audience is directly targeted compared to the paid search ads, where the users are already looking for a definite product.
A huge number of lead generation plans are aimed at obtaining users’ emails. With the help of email marketing, it is possible to promote your product and keep the users engaged. For example, if you’re a landlord or property manager working to find renters for apartments in Denver, you should sort through your email list by geographic location to find the people who will be most interested in your unit. Through sending regular email updates, you can make the users interested in your product again, offer them useful options/new interesting products, provide the information about sales, etc. There are also abandoned cart emails and various promotional emails, which you can send to the target users.
According to recent statistics, 59% of B2B marketers say email is their most effective channel in terms of revenue generation. The right strategy of email composition and appropriate time of sending can help you communicate with the audience on a more personalized level. Thus, it is possible to make a stronger connection with the customers reaching more regular sales. The emails might be generated on the basis of the users’ interests, their purchases, activity on your site, etc. As a result of such work, you can also achieve higher conversion rates.
Social media marketing
Social networks are an essential part of modern life. The majority of people use social networks for communication, search, purchases, and other purposes. Today they are powerful channels for advertising and promotion. And through social media, it is possible to build brand awareness, create connections with potential consumers, attract traffic to your website, and sell your goods. Here are some of the most popular social media platforms:
As more and more people use smartphones and other gadgets to access the internet, it is vital to add mobile advertising to your marketing strategy. Over 60% of searches are made through mobile devices. This channel includes any type of adverts, which are accessible on mobiles. They include mobile display adverts, in-app ads, mobile responsive sites, etc. Text messaging is another popular method used by the majority of retailers.
Video advertising is becoming increasingly popular. The revenue of the marketers using such a channel demonstrates a 50% faster increase. You can use pre-roll and post-roll videos on your landing page, apply YouTube to get more money or create other interesting video materials to attract new customers.
Virtual Trade Shows
Yes, that's right everything including trade shows are now available online. Do I think that they can ever replace seeing and touching products, face to face handshakes and the networking that come with a real trade show? NO, definitely not. I believe they are another inexpensive tool to keep in mind for your digital marketing. With that said The gap is closing between real and virtual tradeshows with companies like Hyperfair offering a platform to connect with clients in virtual reality. By using the latest tech in VR you can now present products across the world without being anywhere near them.