While it’s great to be strategic and focus on those channels that maximize ROI, having multiple marketing streams can help your business stay nimble enough to survive any sudden changes that might come it’s way.
Your target audience may have a preference in platform, but what if they shift, or the market forces a transition? You can be great at what you do, but you’ll get nothing in return if no one can find you.
So, are there any benefits in using a variety of marketing channels? If so, what are they?
- You Can Follow Your Customer’s Journey – It is not about your channels; it is about your target audience, where they learn about you and how they make a decision about your products. Therefore, diversifying is not just about the number of channels used. You also need to be where your audience are on their journey. Today, they are usually on multiple channels.
- Greater Reach – You can reach everyone in every corner of the world. By sharing valuable content via social media, podcasts, blogs, and online communities, you can gain trust with people and generate interest in you, your brand and your products and services
- You Can Hedge Your Risk – As with any investment, putting all your eggs in one basket is a risky proposition. Making yourself more marketable is an investment to build your personal brand and your business. You should hedge the risk by diversifying your marketing channels. Don’t focus solely on social media or just one platform. Think about traditional marketing, too, such as advertising or writing articles for magazines.
- You’ll Be Where Your Audience Are – Determine their needs and preferences so that you can meet them where they are and understand how they want to communicate, be educated, and do research. Nothing shows that you listen and care like letting the customer take the lead, then following that lead with your marketing and communications efforts.
- You Can Avoid Dependency on One Channel – To reach the largest audience, diversifying your marketing channels is essential. Adapt your diversification efforts to focus on those channels that report the greatest benefit. In this way, it is possible to reduce the risk of dependency on one channel. In the case of unforeseen circumstances arising, it will allow you to adapt more quickly to any reality.
- You Can Engage Your Current Audience While Attracting New – Diversifying your marketing channels, especially currently, offers an opportunity to engage with your existing audience and attract potential new connections at the same time. You can accomplish this by earning the attention of target audiences and retaining their interest with impactful and engaging content and solutions.
- You Can Gain Useful Data You Wouldn’t Have Otherwise – Diversifying your markets is more important today than ever before. There is so much that is unknown in today’s strained marketplaces and using opportunities to try new strategies and markets can provide data that could be helpful moving forward. The assumptions businesses have used to guide decisions may no longer be accurate. Diversifying is the key moving forward.
- You’ll Be More Resilient To Uncertain Market Forces – If a business relies too much on a particular marketing channel, it is left at its mercy. If and when sudden market forces disturb a channel, the business will find it difficult to rebuild that channel. Especially in the world of online marketing, the mediums that certain channels use could be wiped out by new legislation or shifts in technology. Thus, it is important to diversify channels.
- You’ll Develop Greater Customer Loyalty – If you provide meaningful content across the channels that your audience value most, diversification can help you develop and maintain greater customer loyalty. Audiences in different market segments will often utilize particular channels, and they need to be engaged where they feel most comfortable and familiar.
- You Can Gain Exposure from Many Different Angles – People consume content in a variety of forms. Google’s research showed there can be anywhere from 20 to 500 market touchpoints along the audience journey these days before someone decides to buy. By being diversified in your personal brand, you can expose your product and services to people many times. Each time, increasing levels of interest and curiosity about what you can offer.
- You Might Gain an Audience from Unexpected Channels – Consumer behaviour is changing rapidly, as are marketing methods. While the rule of thumb used to be “go where your audience are,” clients’ needs have evolved. Diversifying will allow you to sense what clients need, how they consume information and how to better engage with them.