11 marketing channels you could test in 2020
We all want the biggest return on our marketing budget, no matter if we invest 100 Euro or 100,000 Euro. Choosing the right marketing channels for your business will help you get a profitable ROI.
Marketing channels available today are evolving faster than ever before. These many changes that are happening make it difficult to know which channel will work best for you.
There are quite a few channels that allow you to connect and engaged with yout targeted audiences. Here are a few of the marketing channels you could use either in-person or online to make sure your business gets noticed by your audiences:
1.Your company’s website
Users will use your website to learn more about your business, and if they can’t find answers to their questions quickly, they won’t stick around long enough to find out.
Your site should offer a good first impression and it should clearly represent your business, brand, products and services in the way you want.
Conduct an audit inhouse or ask a client or a friend to check it out for you and see if there are any design or content issues you should address.
2. Pay Per Click (PPC)
The most popular platforms now are Google Ads and Facebook/ Instagram Ads. Most brands run campaigns through an agency but seeing as this can be costly you could try your hand at running your own pay per click advertising. If you decide to test it out yourself make sure you go through the supporting courses each platform offers.
Google search Ads will help you connect with users who are searching for products or services like yours.
Google display ads and Facebook’s ads will allow you to create demand and introduce your services to customers who may not be looking or even know you exist.
3. Social Media
Social media is a big part of most marketing strategies right now. Customers are seeking and following brands they like or are interested in and increasing numbers of users are using social media to research or make buying decisions.
Social media offers valuable community-building opportunities that offers unique opportunity to engage with your audience. Whether you’re just sharing behind-the-scenes content on your personal page or creating a group involving your business, you should be leveraging social media for all it’s worth.
4. Word of Mouth Marketing
Word of mouth marketing has always been one of the most effective marketing channels. You’ll probably think twice if a salesperson tells you that you need that watch, but when your friend points out how much they love wearing it every day because of all the smart features, you’ll take more notice.
There are two primary methods to encourage word of mouth marketing. Referral programs and motivating online reviews for different platforms online, including Google, LinkedIn, and Yelp.
You can encourage word of mouth by:
- Asking your customers for a review after a purchase
- Promoting a referral program
- Showcasing the reviews you have already received
5. Content marketing and SEO
With content marketing you get compounding interest, making it even more valuable. Your posts can offer SEO benefits for a very long time as people continue to search topics online, and all of your content can provide valuable relationship building and lead generation capabilities.
Content marketing shows expertise, all while helping you reach customers at different stages of the funnel.
You can integrate a content marketing strategy through blog posts, guest blog posts, podcasts, webinars or videos.
6. Email Marketing
Email marketing is incredibly effective if you have a list of customer contact information. Users have opted into hearing from you, so they’re more willing to open those messages to learn about the latest products, sales and how to benefit from them.
Improve your campaigns by using personalization, keeping your message short, and making sure your subject lines include a real reason for the users to click.
With affiliate marketing you get to work with and reward one or more affiliates for each visitor or customer brought by the affiliate's own marketing efforts.
It can work both for products and services as well.
8. Podcasts and Podcasts Ads
The podcasting industry has continuously grown since 2013. In the USA alone, Infinite Dial reported that in 2019, 20 million more people were listening to podcasts than in 2018.
Depending on your industry it might be important to consider podcast advertising for your brand.
If you think podcasts might be a good test for your business check if there are any Podcast advertising networks available in your country.
Partnership marketing is about collaborating with a person or business because they have a relationship with an area of a market that you’re interested in selling to.
By partnering with somebody, you’re able to introduce your brand to a new audience.
10. Physical Marketing
One of the many benefits of physical marketing is that it's more likely to stick with the viewer. Compared to digital ads, print ads are easier for viewers to understand and provide better long-term brand recognition. Depending on your industry and business you could test this channel using either: signage, giveaways, packing, free consultations, brochures, mailers, billboards or even sponsor some events.
11. TV and Radio advertising
These marketing channels reach thousands of people and are ideal for targeting older, less tech-savvy audiences. Depending to whom you are selling to, this channel might bring value with brand awareness.
How to Pick the Best Marketing Channels for your business
Checking your options and testing different channels is the best way to find the best marketing channels for your business. You don’t have to commit to a long-term marketing strategy or invest big budgets into a channel right away. Running small tests and seeing if the results make sense for your business is the best way to adding new channels in your marketing strategy.
Here is a short list to help you identify which channels your company should test:
- Check what your competition is doing. Look for companies with a similar size, demographics, products, and services and see what marketing channels they use, and how they use them.
- Read marketing blogs and attend industry conferences. Educate yourself in your main profitable channels.
- Test one new marketing channel at a time. This way you can see the direct impact of your marketing efforts without wondering where the success is coming from.
- Set aside a test budget with a designated test window. Limit your test to three to six months at first to see if the marketing efforts gain any traction. Create clear goals for how you would define success during this period.
- Try different types of content or promotions during this test period. The channel might work but your message might be off.
Trying a few new marketing channels in a year, might help you find what works for your company. You will only know which channel work best if you try them out.
If you are looking for easy financing for testing new marketing channels, consider taking a corporate loan that would allow you to finance your day to day activity. Thus allowing room for introducing testing new marketing channels. Remember that with Ferratum Business, you have access to flexible financing quickly and easily. Apply today for a corporate loan and see how much money your business can get!