Identifying which digital marketing channel works for you takes time and testing, but it will pay dividends in the long run.
Not every digital channel will automatically make you a return on your investment. Even if they do, some will make more than others, so it is essential that you identify which digital marketing channel works best.
Finding Out Which Digital Marketing Channel Works Best Takes: Time.
No online advertising channel is “set and forget.” All of them require constant monitoring and optimisation. Smaller businesses doing their own marketing, advertising simply don’t have the time to manage and optimise several channels concurrently. So, concentrate on one at a time, set up the campaign and conversion tracking and look for potential to scale. Depending on your sector it’s worth considering AdWords, LinkedIn, Facebook and Twitter.
Quite often, visitors are looking for your site, not because they want to buy your products or services, but because they are doing research, looking for work or trying to sell you something. Read these articles for how to avoid targeting the wrong searches:
- Example Negative Keywords for Pay Per Click Campaigns
- Understanding Customer Intent is Crucial to Online Marketing
Which Digital Marketing Works Best: Google AdWords and PPC.
If you have put together a great ad which is relevant, interesting and has a strong call to action, you might receive a click-through. If this is combined with a fantastic landing page with an irresistible offer, you will get a conversion.
Google AdWords allows you to place your company in front of users that want your service or product. Proper keyword research and selection combined with adverts that offer solutions and landing pages that funnel customers into sales.
Facebook ads can produce a great return for some brands, but for most, it is about brand awareness. People aren’t looking at their Facebook feed to find a new product or service, they are not actively looking to buy (despite the excellent targeting options).
If you have a local catering company, for example, then Facebook ads are a great way to put your services in front of a local audience that is likely interested in your food. While they aren’t actively seeking it, you can trigger impulse purchases or most certainly raise awareness.
Some digital channels are just irrelevant, for example, if you produce SaaS CRM software for the B2B market, then LinkedIn is going to be the first stop. But advertising your local catering business would be a complete waste of your budget.
If your potential customers are actively searching for a product or service, they are more likely to open Google and type in their keyword query, hoping to find exactly what they are looking for. For many, PPC ads provide the highest measurable ROI.
The latest trend in digital strategy is influencer marketing. But what is it, how does it work, or will it even work at all? Just because one company experiences a massive ROI doesn’t mean that another company is going to experience a similar return.
One classic example of influencer marketing is how Disney recruited EvanTube to promote everything from toys to holidays. If you have kids, you will know about EvanTube. Evan is a US based kid of about 12 whose videoed during everyday life. For some reason completely lost on me, this is a hoot for my UK based kids to watch.
As seems to be the trend now, my children rarely bother with TV (unless it is on demand) and EvanTube represents a way for brands to engage with their target audience. Disney sponsoring Evan to review toys and theme parks which is a natural, perfect fit.
However, you are unlikely to be running a business on the scale of Disney, but influencer marketing is now taking place on a much smaller scale. Social ‘personalities’ are being recruited to review local products and services and spreading the word via their social media channel of choice.
Influencer marketing is just one channel, depending on your business it could be the right one, but, as with all the channels, it is about testing on a small scale and measuring the results.
Measure Your Cost-per-acquisition (CPA) By Channel
For many, which digital marketing channel works best is measured by CPA. CPA is the amount of money spent on a marketing channel, divided by the number of sales generated from that channel.
So, for example, if in one month you spent £200 on Google Adwords. Because you have goals and conversion tracking set up, you know that this has generated 20 sales (CPA=£10). Now, if you then spent £200 on a Facebook advertising campaign, and this only returned 10 sales, this would represent a CPA of £20. The obvious next step would be to concentrate your efforts on Google Adwords rather than Facebook. In this example, the answer to “which digital marketing channel works best?” would be Google.
There are numerous ways to market your business online, including
- Email Marketing.
- Pay-Per-Click Advertising (PPC)
- Search Engine Optimisation (SEO)
- Influencer Marketing
- Display Advertising.
- Social Media Marketing (SMM)
- Content Marketing.
- Affiliate Marketing.
- Online Public Relations.
The key to identifying which digital marketing channel works best is to experiment and test the waters. Not everything will deliver a CPA that makes financial sense. Pay close attention to your data and know when it’s time to abandon one channel and focus on more promising marketing opportunities.