How to Diversify your Marketing Sources
By: Mary Ann Bautista
It’s very easy to keep doing what’s working in all aspects of life…. but it is extremely important to resist that urge (or lack thereof) when it comes to your businesses’ marketing sources! I liken the notion to a “1-legged stool.” It’s just not SAFE!
How do you go about identifying new sources for your brands and offers? There are several ways.
What are your competitors doing? Are they using a media source that you are not, or have tried and were not successful with? I’m a firm believer in “if there is smoke, there is fire.” If the latter is true, why didn’t it work? Do you understand what did not work about that test? Can you retest making adjustments for that issue? Perhaps offer, creative, cost, and other levers on the marketing channel can be adjusted. Did you give the media enough time? Think this through… it might be better to retest something that got close with refinements, rather than trying a wholly new marketing effort.
What new vehicles are your advertising reps offering you? Most dynamic media and marketing companies are constantly evolving their offerings to support their growth. It’s a great idea to listen, learn and evaluate new media opportunities from your most successful marketing platforms. And while for Direct Response I would caution not to jump too quickly on new opportunities, (better to let someone else be the guinea pig) if there are enough similarities to what you are doing and the pricing is close, it might just be worth it a test.
Read the trades! What are other companies that you respect doing that are new and different with their advertising? What vendor resources are they using? Keep yourself up to date and informed on all the trends.
Research. I’ve found a tremendous new vendor with a Google search. Try various keyword and long-tail combinations….and read down below page 1.
Podcasts, vlogs, and blogs can also be a great source of inspiration for new media sources. There is a multitude of media and industry-specific content providers out there. Follow the ones that make sense to you and join in the conversation.
Finally, ask your team to brainstorm with you. What would be the ideal scenario for a new media source for your business? Sometimes the craziest “way out there” idea can lead to something worthwhile. We hold bi-annual brainstorming sessions for one of our largest accounts and many fantastic inspirations have come from that effort.
Having a strong omnichannel approach to your marketing and media mix is important. As an old mentor of mine used to say, “one plus one, does not equal two in marketing and media.” So be sure to constantly evaluate your media mix and search for the next big thing to test and add!