October 28, 2022, Comment off
The Ultimate Guide to Channel Mix Strategy in 2023
When it comes to channel marketing, the platforms are endless. From websites and social media platforms to email and cold calling, promoting your brand on every channel can waste time and resources.
But the demands of your audience are evolving, and you must reach them with the right message through the right platform. This is why you must have a solid channel mix plan in 2023. This blog will guide you through everything you need to know to create an effective channel mix strategy.
Table of Contents
- The What and Why of Marketing Channel Mix
- How to Build Your Distribution Channel Mix Strategy?
- Identify Your Target Audience
- Deliver On Your Audience’s Requirements With Your Channel
- Understand Best Practices for Each Channel
- Define the Objectives for Each Channel
- Do a Competitive Analysis
- Track Your Progress and Collect Data
- To Conclude
The What and Why of Marketing Channel Mix
Channel mix in marketing is the ratio in which you use different platforms to deliver your brand message to your target audience. It includes traditional marketing channels like TV, radio, billboards, etc. and digital marketing channels like email, social media, or websites.
But why do you need marketing mix distribution channels? For starters, to ensure that you don’t put all your eggs in one basket. Even if one channel becomes less effective, you can fall back on the others. Moreover, your target audience expects to find your brand on the channels they use the most. Channel mix strategy helps you engage with them where they are and push them down the sales funnel.
How to Build Your Distribution Channel Mix Strategy?
If you’re ready to ace your marketing channel mix in 2023, here’s a step-by-step guide to building an effective strategy.
1. Identify Your Target Audience
One of the most critical aspects of creating a channel mix strategy is identifying the channels your target audience frequents most. And to do this, you must determine who is your target audience and which channels they use the most. Answer these questions to get started:
- What channel does your target audience use to search for information related to your brand or industry?
- What channel do they use the most to communicate with colleagues or friends?
- What is your target audience talking about your brand or industry, and where?
You can also use your existing buyer persona or create a new one to identify the channels that will best reach your audience.
2. Deliver On Your Audience’s Requirements With Your Channel
Once you list the channels your target audience frequents most, understand their requirements. This will help you select the channels where you can strategically position yourself to meet them. For example, if you run an SEO agency and your audience is looking for ways to rank higher in the SERPs, you can start a YouTube channel to create explainer videos.
Similarly, suppose you’re in the SaaS space targeting B2B companies. In this case, you’ll have to use more formal channels like email, whitepapers, LinkedIn, etc., to educate your potential customers about your software and how it will solve their problems. In this scenario, having a solid PPC ad or SEO strategy also helps. This allows your target audience to easily find your brand when they search for similar software online.
3. Understand Best Practices for Each Channel
While a channel mix strategy is an excellent marketing strategy, you need to understand each channel’s best practices and intricacies. For example, if you’re using emails, you need to optimize them to ensure a high open rate. Or, if you’re using social media, you need to figure out what you should post and when and how you will position your brand’s voice.
But no matter which channel you select, make sure you have a consistent brand message.
4. Define the Objectives for Each Channel
Having well-defined goals for each channel will help you streamline your marketing efforts. Channels mix strategy have different strengths and limitations that you must consider before setting your channel goals. For example, you might use email campaigns to generate leads or increase sales. But they might not offer high reach potential. Your message will only reach customers who opt-in to receive your emails.
Similarly, you can use social media to boost brand awareness and drive traffic to your website. But if you don’t post and engage with your followers regularly, it will decrease the ROI.
5. Do a Competitive Analysis
Look at what your competitors are doing and create a unique strategy. Because your target audience is the same, you must ensure your strategy stands out. Here are a few things you must consider for-
- What channels are your competitors using?
- What are their brand message, voice, and position across all channels?
- What keywords and buzzwords are they targeting?
- Which parts of their channel mix strategy work?
- What mistakes did they make that you should avoid?
You can also run a SWOT analysis for each competitor to understand what works for them and identify the opportunities they might have missed.
6. Track Your Progress and Collect Data
Like any other marketing campaign, you must regularly monitor your channel mix strategy. Collect data to measure the goals of each channel and use it to refine your strategy. This will help you measure your progress and determine if the campaign is on track.
We’ll also recommend you collect data about your target audience’s behavior and requirements. Why? Because if their preferences change, you can modify your marketing channel mix strategy accordingly.
A channel mix marketing strategy is all about meeting your target audience where they are. As you create your strategy for 2023, research your objectives, target audience, and competitors well. And remember to understand the best practices for each channel and establish a consistent brand experience across them.