The importance of diversified marketing practices cannot be emphasized enough. Not only is it helpful in getting more consumer engagement in a crowded online environment, but it allows your brand to expand without the risk of 'putting all your eggs in one basket.' For instance, you may find a large portion of your target audience on Instagram. Still, you could also benefit from a platform like YouTube that encompasses a large portion of ALL generations.
According to Forbes, there are at least ten reasons to diversify your marketing. You can match your customer journey, benefit from larger reach, hedge your risk, be where your audience is, avoid dependency on a single channel, engage current customers while attracting new ones, and gain useful data that may not have been able to tap into otherwise. You will also have alternatives if you get kicked off a platform, develop greater customer loyalty, and get new clients from unexpected channels.
Here's how to diversify your digital marketing campaigns for the best results.
Personalize Your Emails to Subscribers
Personalization is becoming particularly important in marketing. The beauty of email marketing is that it's one of the best places to reach and resonate with your audience (a large one at that — standing somewhere around 4 billion active users) in a personalized and consistent manner.
This is significant because studies show personalized emails are much more successful than their counterparts. Although 70% of brands fail to use personalized emails — those that do deliver six times higher transaction rates, an average open rate of 5.9%, and a click rate of .2%. When emails are not personalized, 52% of customers say they'll find somewhere else to go.
You can personalize emails in many ways, including:
- Using the recipient's name when addressing them
- Sending only relevant offers, discounts, and sales (typically based on data about past purchases, wish list items, etc.)
- Delivering anniversary emails, birthday wishes, thank-yous, and more
- Segment your recipients by buyers journey to appeal to their specific stage: awareness, consideration, and decision
Expand to Digital Marketing Channels where Your Audience Spends their Time
The best thing you can do for your business online is to diversify your marketing channels. However, it's also essential to note that you should do so with your target audience in mind. Otherwise, you risk more ad spend waste than you can afford.
When you have a thorough understanding of where your audience is, it's important to follow them there and be active. This means if you're looking to reach and connect with a younger audience, you'll want to give more focus to Instagram and TikTok. On the other hand, an older audience can be found on Twitter and even Facebook, where you'll find the following age groups: 30-49 (77%), 50-64 (73%), and about half of 65+ users.
Of course, the right place isn't all you need to know. You also need to know the best time to post when it comes to your social media marketing. This will take specific and detailed research on your part.
Embrace OTT as the Wave of the Future
By now, you likely have heard talk of over-the-top (OTT) marketing and the potential that comes with it. It's the wave of the future, and businesses cannot afford to miss out on it.
According to eMarketer, OTT/CTV advertising is the breakout star of 2021 and is expected to keep up the momentum in the coming years. They even raised their estimate for the future of OTT since the pandemic accelerated the new trend. There are projected to be 222.0 million subscription OTT viewers by 2024, up from 210.4 million.
There are BIG benefits to OTT marketing, including:
- Hyper-targeting capabilities
- Multi-device advertising potential
- Increased interactions/engagements with your customers
- A wider audience reach
- Tracking and measuring to inform future decisions
Consult the Experts for More Guidance
Sure, these pro-tips will go a long way in diversifying your marketing and helping you grow your business. Nonetheless, it doesn't come without challenges. In fact, 90% of customers expect consistent interactions across channels, and 61% said engagement with the audience is the most important characteristic. That's a tall order when it comes to execution! With a media expert like Meredith Gulf Coast, you can rely on a team of experts to help inform your decisions and guide you through diversifying your marketing campaign.