How do these marketing channels stack up?
There are A LOT of different marketing channels out there. What are the pros and cons of some of the common ones?
There are over 3.8 billion people on social media around the world. Social media is a fantastic way to connect with customers, build brand loyalty, and generate sales.
People don’t just want to buy from companies because they have good products and services. They want to know what your brand stands for in addition to what it sells. Social media can help potential customers get to you. Social media feel like a 1-on-1 conversation between the brand and consumer, which helps build loyalty.
A lot of the value from social doesn’t show up immediately. It’s rarely simple to track social media’s ROI. Often the goal of social media is not just to generate sales but instead to build connections. Without measurable results, using social media can be discouraging.
Often it a brand’s only way to communicate with customers and can feel very one on one. A lot of millennial and gen z’ers expect to communicate with brands through email. Also, pretty much everyone has email so you know you will be able to communicate with people through email.
We all get so. many. emails. Most office workers receive 127 every day. It can be hard to stand out from the crowd. People don’t have time to read emails that don’t actually provide them value.
Email marketing also has a lot of laws and rules connected to it that can hurt you if your aren’t careful!
Customers often rely on a business’s website for information. Especially for local businesses, it can be the only way to know a shop hours or address. Putting the information on a website instead of a social media or directly in a browser legitimizes the information.
Good SEO gives your website credibility. It makes it easier for people to find your website when they search for it. And it helps create a smoother user experience.
Bad SEO can hurt you. Most searchers never go past the first or second page of Google, though, which is why those top spots in the search results are so coveted. Having the proper SEO can prevent your website form getting organic traffic.
53% of all trackable website traffic comes from organic search. SEO is the main thing influencing how easy it is to find you online organically. Which is probably why it’s estimated that agencies and brands spent over $79.27 Billion on SEO services last year.
Where are people? On their phones. So, google ads is an extremely effective way to find people where they are. Google ads is great for brand awarness as well as retargeting. It is great if you want measurable results and analytics.
Billboards, signs, posters, newspapers, and magazines all exist with in different physical spaces. With digital advertising however, we are all competing for the same ad space. That ad space is worth more now has less guarantees attached to it.
Trying to figure Google ads can feel like rocket science. There’s a large learning curve and it can a while to feel confident in the set up.
Print and Mail
Direct mail average open rate is somewhere between 68 and 90%, which is double, triple, or quadruple the average open rates of other marketing channels. Do people who open direct mail actually purchase? Yes! On average people who receive direct mail purchase 28% more items and spend 28% more money!
Why is direct mail so effective? It comes down to fact that we (humans) like getting mail. 41% of Americans of all ages look forward to getting their mail every day. We still want very real things in our hands, which is something totally lost in email inboxes or on social media. That tactile connection translates into 💰.
Since Direct mail requires use of the postal system it has fixed costs. The graphic design of the mail piece may also have an additional cost. Using direct always requires a bit of math and if done wrong can hurt your ROI.
It’s not always posable to see direct, measurable results, from Direct mail campaigns. And if you can measure results, it may take a while to get the full picture.
Another thing that can be a disadvantage to direct mail is that you need a really good foundation of address data. The problem us that a lot of data providers don’t make sure that their data is accurate and that hurts the effectiveness of your campaign.
TV is a time-tested advertising channel. Although it’s a lot less common than it used to be, it can still be very effective. Many marketers are using CTV (connected TV) or OTT (over-the-top) channels to target consumers using streaming services and connected TV devices such as Hulu and Roku. Advertises are embracing these platforms as more and more ad space becomes available. Spending for CTV advertising is expected to grow from $6.94 billion in 2019 to $8.88 billion in 2020, a 28% increase.
With customer attention spread so thin and cable tv subscriptions consistently falling, (over 16 million in the last five years) there’s a lot less advertising space available. Content consumption is at an all-time high and therefore, competition for viewer’s attention is as well. 84% of marketers say that it is getting harder to grab a consumer’s attention with television advertising alone.
Audiences today expect personalized and relevant targeted ads. Linear TV (cable and network television) often fall far behind in targeting capabilities. Therefore, it can be a challenge for advertisers to figure out how to integrate linear TV into their campaigns.
Let’s Talk: Digital Display
We’ve talked a lot about specific types of Digital Display Ads but what are the differences them? And how do you what type of Digital Display (Or online ad) is the best fit for your business?
What is Digital Display?
Digital Display Ads can be split into 5 main categories:
- Digital Audio Ads
- CTV (Connected TV)
- Video Ads
- Static Ads
- HTML5 Ads
What do Digital Display Ads do?
Digital Display Ads encompasses just about every type of online ad. Each type of Digital Display Ad has its own strengths and weakness. Effective campaigns are often the ones that know how to best utilize each type of ad.
Digital Audio Ads
What is Digital Audio Advertising? It’s all the ads you get that are just sound. For example, any podcast, Spotify or Pandora ad is Digital Audio. It’s expected that Digital Audio Ads from just podcasts will surpass a BILLION dollars in 2021 and that the average American will spend nearly 90 minutes a day listening to streamed music or podcasts by 2022.
Digital audio ads are a great way to connect with consumers through a channel that they enjoy. And it is very cost effective, because the ad only plays if they are listening to music or a podcast.
CTV (Connected TV)
Connected TV advertising refers to ads that are delivered to internet-connected TVs – for instance, via Hulu or Roku. CTV is increasing in popularity for marketers! Consumers are embracing these platforms so more and more ad inventory is becoming available. In fact, CTV advertising spend is expected to grow from $6.94 billion in 2019 to $8.88 billion this year, a 28% increase.
The specifies depend on what you need your funnel to accomplish. Some of the processes used are A/B testing, improving user on-page experiences, usability tests, and optimizing existing content.
Video Advertising fits into 2 categories: The ads that play connected to streamed content, such as Youtube ads, and display ads with video content. Those are the ads that start playing a video when your cursor scrolls over it and native video ads.
Video ads are extremely effective. Video content is more eye catching and engaging than static images or text and they are easier to remember. They are great at story telling and promoting brand messaging. Studies show that almost 75% of consumers prefer Video Ads over Text Ads.
Many Video Ads on social media platforms are re-sharable like native content, which makes it easier for consumers to promote your content for you.
Static Display Ads are probably what you think when you think of online ads. Static Display Ads (or Banners) are the ads that are a solid image of various sizes in designated areas of a webpage or app.
Static Ads are very effective for generating general brand awareness, retargeting, drawing attention to a specific sale, targeting location based traffic, and much more!
HTML5 Ads are attention-grabbing, interactive (or responsive) ads optimized for Google.
HTML5 allows a lot of flexibility and creativity with ads content and formatting. Video, text, imagery, and audio files can all be used. More imaginative ads create more engagement. HTML5 ads tend to have much hight click-through rates than static ads!
HTML5 ads are rendered in code. You are sent to code itself as well as the MP4 video.
What’s the best fit for you?
Every business and situation is different! No one type of ad is best for each business but usually a combination of the 5. Online advertising can be touchy so it’s important to have a strategy.
What’s your favorite type of Digital Display Ads to use for your business?