The Importance of Creating a Diversified Marketing Mix
By: Stacy Scott, Senior Account Service Manager, Gragg Advertising
Developing a diversified marketing mix is crucial to the success of any advertising campaign. One medium does not have a broad enough reach to fully target an audience. Running a minimum five touch point marketing mix will help ensure that the advertising message fully penetrates the market.
Television is a very high volume lead source with a broad reach. This medium offers a wide range of programming that can be purchased to reach most target demographics. Testing is key to determine which programming will produce efficient results. A minimum of two spots per hour should be run to achieve optimal frequency and drive results. Female audiences typically watch during day and male audiences tune into late fringe and overnights. Prime Time should be used mainly for branding awareness.
Another source that can be strong for delivering the advertising message is Daily Papers. Results vary by market and are usually stronger in larger markets. The creative should be designed with the lay-out of the publication in mind. The creative should be eye-catching, stand out and make the reader want to take action. Positioning is also very important. If running a display ad in the Daily Paper is too expensive, line-ads are an economical alternative but not always as effective.
Job and discount papers are great for traditional ads as well as inserts. These are usually much more affordable and typically great response vehicles for specific target markets. This is an efficient medium to run multiple advertisements.
To reach a more targeted demographic with a specific message, direct mail can be a very strong medium. Of all the sources used for advertising, direct mail allows the advertiser to speak directly to the potential consumer and customize the piece to them, personally.
Web-based advertising is on the rise and becoming a very integrated part of most marketing campaigns. Pay Per Lead, Search Engine Marketing, Search Engine Optimization and Social Networking were barely in existence five or ten years ago. Present day, these mediums are a thriving source for advertising.
Pay Per Lead (PPL) allows prospective consumers to research information online by searching keywords or directories. The prospect seeking additional information fills out a request form which includes contact information. The web site then qualifies the lead based on the filters established. If the prospect qualifies as a lead the contact information is sent via email or web based posting.
Search Engine Optimization (SEO) is a process of web page development which focuses on a web search engine’s ability to “read” a web page. SEO should be seen as an adjective to describe the technical nature of the content that the web page presents. SEO is most effective with monthly review and refinement. SEO should focus on legitimacy and relevancy.
Search Engine Marketing (SEM) is the purchasing and management of key word buys associated with “like” phases used in searches that drive potential sales to your web site. It can also include the establishment of “links” to your site that increase the relevancy of directed key word searches. This is ongoing and protection is critical for your branded name.
Now more than ever, traditional media drives more traffic to the web. Many advertisers have made the fatal mistake of seeing their web results outperforming traditional media and move their budgets to only Interactive channels. Without traditional media to drive traffic to the Internet, web results dropped off.
Internal lead databases are prime for converting leads into customers. These are individuals who have already expressed interest in a specific service. They are familiar with the company and for one reason or another, did not convert. Regular email campaigns to this list are an inexpensive way to keep the brand in front of the prospect. Refreshing the database list regularly is essential to a successful email campaign.
To determine which marketing mix is most effective, testing and evaluation is needed. All leads or inquiries should be tied to the advertising that generated the lead. Unique phone numbers and URL’s make this tracking possible. This analysis should be well tracked to compare against as new tests occur. Once enough data is collected, benchmarks can be set to compare future lead flow against and ultimately increase efficiencies.
Tracking leads alone does not help increase revenue. Conversion must also be compared to the lead sources and evaluated to determine which medium is producing the most qualified leads. Most markets will take three to four months to develop an optimal marketing mix. Based on the results, weekly or monthly updates to the advertising campaign may be needed. Patience is very important in during this period, but keep in mind that making too many frequent changes can make it difficult to determine what is working. Stick with what you know, and what the number continue to support. The rest is history.
