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Why and How to Diversify Your Marketing Mix

We’ve all been there. The tried and true methods that yielded great results for your clients don’t seem to be producing like they used to. You’ve analyzed the data, tested your copy and fine-tuned your creative, but the outcomes leave you a bit underwhelmed. While some marketers may point to a given platform as the issue, it’s counterproductive to try to solve this problem by hyper-analyzing your current efforts.

Every agency has its unique set of clients, with even more distinctive ways of getting the results they want and deserve. Everyone has their go-to methods, platforms and tools to get the job done, but in today’s world it takes an open mind and an aptitude for learning to keep a leg-up on your competition. The proverbial ‘secret recipe’ is in the diversification of your marketing efforts. Don’t worry, this doesn’t mean you have to reinvent the wheel. Rather, it involves keeping an open mind, focusing on optimization and learning new techniques.

In this blog post, we’ll give you four reasons why you should consider diversifying your marketing mix.

1. Your Competition is Already Doing This

No matter the industry or sector, your competitors are doing everything possible to gain an advantage. By finding new and creative ways to reach your target audience, you’ll enable the customer to interact with your brand in a ways that are most convenient for them, while accomplishing your clients’ goals.

Some businesses mistakenly apply the ‘if it ain’t broke, don’t fix it’ model to their marketing efforts. Maybe they’ve seen great success with television ads, and don’t want to waste their time with social media or Google. Through the use of omnichannel marketing, brands are able to tailor and evolve their approach to appropriately meet their sales and marketing objectives. This almost goes without saying, but we should all occasionally check our linear thinking at the door.

2. Privacy Laws are Only Getting More Strict

The past few years have seen an uptick in privacy laws and the protection of consumer data. While this is good for users, it makes the jobs of digital marketers considerably more difficult as they lose the ability to target customer profiles with core demographics, psychographics and behaviors. With 65% of the global population expected to have its personal data covered under modern privacy regulations by 2023, it’s crucial to understand the future of marketing and advertising will offer unique challenges.

For companies who have relied solely on retargeting, this isn’t the best news. However, the crackdown on privacy laws will undoubtedly force companies to explore new platforms and methods to garner desired results. For this reason, it’s important to explore new avenues for getting your client’s name in front of potential customers while being mindful of the impact of your messaging.

Organic posting and community building can be just as impactful as paid social advertisements. While paid ads are great for getting your message in front of potentially qualified customers, organic posting is a chance to display your company’s brand voice by engaging and connecting with your audience. The best part of all, is that this tactic comes at little to no cost.

3. Data and Insights Lead to Better Decision Making

While relying on intuition can help point a company in the right direction, it’s data-driven actions that produce the desired results most companies are searching for. There are countless examples of businesses utilizing new found data to inspire unique decisions and paths for their companies. According to a study by PwC, companies utilizing big data and advanced analytics in their decision making can outperform their competitors by 5% in productivity and 6% in profitability.

Most, if not all, major platforms provide a plethora of insights that can help guide your decision making. Whether it be through Youtube or Facebook Ads Manager, you’ll be able to find granular metrics which help you identify your core audience and better determine how your efforts to reach and resonate with them are performing. Compiling, understanding and acting on data is a process which takes experience, but once you’re focused on what needs to be done, your creative thinking is bolstered by your past findings.

4. Find New Tools and Techniques Along the Way

We’ve saved the best tip for last. One of the most enjoyable aspects of being a marketer is nerding out on all of the cool and innovative platforms and tools. With the means to achieving beneficial results being dependent on an omnichannel approach, it’s a fun challenge to see what actually works for clients.

Maybe a certain lead-generating chatbot or a social listening tool has caught your attention. Try geofencing to target customers within a city or zip code to drive traffic to respective websites. This allows brands to target individuals with certain behaviors and attitudes, such as those who frequent fast-food restaurants, gym-goers, and sports enthusiasts; just to name a few. Don’t hesitate to test a wide variety of tools and platforms out, as most allow for month-to-month subscriptions.

We hope these insights provide guidance in discovering new ways to put your client’s name in front of the correct audience. Remaining stagnant in your marketing approach may serve you well for a quarter or two (if you’re lucky), but all successful ventures come through determining the correct avenues while evolving tactics as time permits and urgency necessitates. Being a marketer is a privilege, and a large portion of the rewards and satisfaction comes through the hard work and creative thinking used to accomplish respective goals and objectives.