Successful online marketing comes from having the right mix of online media with each one contributing to one another’s performance and the ultimate goal. The online media landscape is constantly evolving, unlike much of the media that served us so well for so many years by way of television, radio and print. The online media mix suggests tactics that will, when used well and efficiently, help a business succeed.
Digital marketing and advertising has the least expensive media entry cost with potentially the broadest reach of any media ever created. Creating a website is relatively inexpensive – around $12.00 for a URL, free and easy to use tools to build a website, not to mention the essentially huge and free arena of social media. Just contrast this cost with past traditional media like Yellow Page advertising. You might not even need a website to promote your business online if you can execute social media well.
What follows is a general list of available online media channels/tactics and generally ranked by cost from lowest to highest:
Of course, each one of these need a great deal of explanation to properly describe how they might fit with a particular business model and strategy. Also, this list can vary significantly and is constantly changing in terms of variations and ranking by related potential reach and costs. These media channels are variously priced using pay-per-click (PPC) or cost-per-click (CPC), cost-per-action (CPA), cost-per-thousand impressions (CPM), pay-per-view (PPV), cost-per-call, etc., with each pricing model establishing its own benchmark for success.
Also, theses media types employ a variety of tactics, some of which can be very successful. For example, "retargeting" visitors who have come to your website via a banner ad or search keeps your brand and message speaking to them as they go on to cruise different websites. You can even dynamically deliver follow-up messages to encourage the sale or additional sales opportunities. Say you booked and airline ticket, you can then be retargeted to get a hotel room, rent a car, etc.
Gary Kawasaki, former Chief Evangelist for Apple said,
If you have more money than brains, you should focus on outbound marketing. If you have more brains than money, you should focus on inbound marketing.
Inbound Marketing relies on being found by your customer. The topmost portion of the above list reflects more or less inbound marketing tactics. Outbound marketing relies on paid advertising to attract your customer. The bottom portion of the list reflects more branding and works higher in the marketing or sales funnel at the level of awareness. If half of life is just showing up, being online today is showing up. Businesses have to be there. It’s the phone directory, it’s a map, it’s the mail, it’s your reputation, it’s where people comparison shop, it‘s your salesperson, your catalog, storefront, etc. When, where and how you show up is the challenge.
By having tactical experience with each of the online media channels listed above, market-Wright, LLC can help build a strategy by sorting through the myriad opportunities to find the best media mix to help business succeed.