{"id":388,"date":"2022-07-19T15:47:07","date_gmt":"2022-07-19T15:47:07","guid":{"rendered":"https:\/\/induomarketing.com\/?p=388"},"modified":"2022-07-21T18:36:17","modified_gmt":"2022-07-21T18:36:17","slug":"the-right-marketing-mix","status":"publish","type":"post","link":"https:\/\/induomarketing.com\/the-right-marketing-mix\/","title":{"rendered":"The Right Marketing Mix"},"content":{"rendered":"\n<p class=\"has-text-align-left\"><strong>The Right Marketing Mix in Today\u2019s Media Landscape<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-left\">Just as companies and entrepreneurs have realized that marketing their dream has gone from the \u201cFour Ps\u201d (Product, Price, Place, Promotion) to the \u201cSeven Ps\u201d&nbsp;<a href=\"https:\/\/creately.com\/blog\/diagrams\/elements-of-marketing-mix\/#:~:text=Importance%20of%20Marketing%20Mix&amp;text=Helps%20understand%20what%20your%20product,strengths%20and%20avoid%20unnecessary%20costs\" rel=\"nofollow noopener\" target=\"_blank\">(Product, Price, Place, Promotion,&nbsp;<em>People, Process, Physical environment<\/em>)<\/a>, marketers and advertisers have realized that multi-channel marketing is necessary to effectively sell the dream.<\/p>\n\n\n\n<p><strong>What is Multi-Channel Marketing?<\/strong><\/p>\n\n\n\n<p>Multi-channel marketing combines two or more outlets of advertising into a cohesive strategy to reach potential customers.&nbsp; Many years ago, there were fewer channels available to reach those customers \u2013 mainly television, print, and radio. A few years ago, a dramatic shift to digital outlets occurred.&nbsp; Today, finding and more importantly engaging with potential customers in the right place and at the right time requires a honed, but diverse, approach \u2013 and that approach must remain flexible.<\/p>\n\n\n\n<p><strong>What are the Benefits of Multi-Channel Marketing?<\/strong><\/p>\n\n\n\n<ul><li><strong>Expanded Reach<\/strong>&nbsp;\u2013 Not every customer is going to consume from a single channel. By utilizing multi-channel strategies, you are able to reach a broader customer base.<\/li><li><strong>More Engagement<\/strong>&nbsp;\u2013 Since customers consume multiple channels, you are allowing for \u201crepeat consumers\u201d to engage on different levels with varied levels of action. For example, a customer may see a television advertisement and then see the same advertiser on TikTok, where they can follow for more content.<\/li><li><strong>Find Customers in their Comfort Zone<\/strong>&nbsp;\u2013 Customers have their \u201cfavorites\u201d, so allowing them to engage within their own preferred channels will build consumer trust and confidence.<\/li><li><strong>Matching the Customer<\/strong>&nbsp;<strong>Journey&nbsp;<\/strong>\u2013 Consumption of media varies for each individual consumer, but there are trends to show proven patterns.&nbsp; For example, L\u2019Oreal\u2019s CMO for the Nordics&nbsp;<a href=\"https:\/\/www.facebook.com\/business\/news\/insights\/what-do-marketing-leaders-say-about-combining-tv-and-facebook\" rel=\"nofollow noopener\" target=\"_blank\">noted<\/a>&nbsp;that campaigns that combined both television and Facebook\/Instagram resulted in a 22.6% incremental reach and a 12-point lift in ad recall.<\/li><\/ul>\n\n\n\n<p><strong>What is the Right Marketing Mix?<\/strong><\/p>\n\n\n\n<p>While every business would like to be in the position of McDonalds or Nike, the reality for most is that it\u2019s not feasible to be everywhere, all the time. The initial opinion may be to jump right into digital platforms.&nbsp; However, it\u2019s important to analyze, test and optimize for both online and traditional channels.&nbsp;<\/p>\n\n\n\n<p><em>Traditional Channel Benefits<\/em><\/p>\n\n\n\n<ul><li><strong>Longevity&nbsp;<\/strong>\u2013 television, radio, and especially print and billboard offer more long-term exposure.&nbsp; For example, customers typically drive the same paths daily, seeing the same billboard repeatedly over the course of time.<\/li><li><strong>Brand awareness<\/strong>&nbsp;\u2013 Offline or traditional channels are the cornerstone to building a company\u2019s brand. Even digital powerhouses like Amazon and TikTok are seen on television.<\/li><li><strong>Brand and sales lift<\/strong>&nbsp;\u2013<a href=\"https:\/\/www.adweek.com\/brand-marketing\/tv-print-ads-trigger-online-searches-90142\/\" rel=\"nofollow noopener\" target=\"_blank\">Research<\/a>&nbsp;shows that TV and print ads trigger online searches. 40% of searches conducted by people who use search engines were driven by television ads.<\/li><\/ul>\n\n\n\n<p><em>Digital Channel Benefits<\/em><\/p>\n\n\n\n<ul><li><strong>Tracking and measurement<\/strong>&nbsp;\u2013 The concept of being able to track a customer\u2019s actions down to the conversion is very appealing. This data allows for optimizations and ultimately a better ROAS and ROI.<\/li><li><strong>Cost<\/strong>&nbsp;\u2013 Since ROAS and ROI are the ultimate goals, it\u2019s valuable to remember that digital channels tend to have a lower CPM than traditional mediums.<\/li><\/ul>\n\n\n\n<p><strong>Targeting<\/strong>&nbsp;\u2013So much data exists regarding customers in digital channels, so it\u2019s much easier to narrow in on niche customers and lower funnel shoppers.<\/p>\n\n\n\n<p><strong>Reaping the Benefits of Marketing Mix<\/strong><\/p>\n\n\n\n<p>Finding the most effective combination of branding, messaging, and targeting requires well-developed strategies, understanding the product and the customer, implementation, and optimization. The media and consumer landscape are always evolving, but when the right combination of multi-channel marketing comes together, companies can achieve more. Whether it\u2019s a small business or Amazon, every business will reap the benefits of the right marketing mix.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Right Marketing Mix in Today\u2019s Media Landscape Just as companies and entrepreneurs have realized that marketing their dream has gone from the \u201cFour Ps\u201d (Product, Price, Place, Promotion) to the \u201cSeven Ps\u201d&nbsp;(Product, Price, Place, Promotion,&nbsp;People, Process, Physical environment), marketers and advertisers have realized that multi-channel marketing is necessary to effectively sell the dream. What [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/posts\/388"}],"collection":[{"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/comments?post=388"}],"version-history":[{"count":7,"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/posts\/388\/revisions"}],"predecessor-version":[{"id":399,"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/posts\/388\/revisions\/399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/media\/392"}],"wp:attachment":[{"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/media?parent=388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/categories?post=388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/induomarketing.com\/wp-json\/wp\/v2\/tags?post=388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}