Will Marketing My Business on More Platforms Increase My ROI?

In the world of business, your return on investment (ROI) is important. Spending thousands, or even just hundreds, on a marketing campaign that generates nothing is a waste of money and a poor investment choice.

What is Multi-Channel Marketing?

There is a lot of information and guidance that encourages businesses to market themselves across all kinds of platforms. This includes things like Facebook, Instagram, LinkedIn, Twitter, Google, YouTube and much more. Some businesses opt to market on one specific site. Others may choose to campaign on several. Known as multi-channel marketing, this strategy comes with several pros and cons.

Pros

Statistically speaking, over 79% of people who use the internet use Facebook. (As of 2017, there are more than 2.1 billion Facebook accounts. As of June 2018, 1.47 billion of these accounts are accessed daily.) Instagram, another social media giant, hit 1 billion monthly users in June of this year as well. LinkedIn, considered by many to be the most effective social media platform, has over 562 million members. Snapchat has a staggering 188 million daily users who actively engage with the platform. Why is this important? These statistics show you the reach you have into a pool of potential clientele. Marketing on any one of these platforms puts your content in front of millions of people. Marketing on multiple platforms? Well, you can see where we are going.

 

Social media itself provides a great avenue to new customers. Posting a new blog to your site may net you a higher ranking, but Google does not necessarily reflect this quickly. Posting on social media, whether it is an original post or a link to your blog, has a more direct way to attract immediate attention.

Cons

Multi-channel marketing requires a bigger financial investment. This means you take a bigger risk. By investing more into the various platforms, you spend more money on the hope that they will generate bigger leads. While this is always a possibility, it also a larger level of failure should the campaign not pan out.

 

Multi-channel marketing also requires more time or manpower, which can mean you spread yourself or your staff too thin. After all, you now have multiple platforms that need to be updated regularly. For those looking to increase their search engine optimization (SEO) or Google rankings, one of the contributing factors is unique content. That means posting the same blurb on your website, Facebook business site, LinkedIn profile, and Twitter feed puts the exact same content on four different sites.

Evaluate The Platform

One of the best ways to effectively use multi-channel marketing and avoid spreading yourself too thin is to evaluate any platform you are considering using.

Track Record

Pay-per-click (PPC) advertising has been around for a long time. Not familiar with PPC? Essentially, it consists of you posting an ad, someone clicking it, and you paying a set rate for that click. PPC is typically a low-cost marketing strategy that nets a rather high ROI. Why? PPC ads do not have to be flashy to attract attention. In addition, when you calculate the cost of the click and compare it to your conversions, acquisition, and other costs – you’ll note that you spend less on advertising while netting more traffic and profits.

 

How does PPC affect your review of a potential marketing platform? The reason we bring up PPC is that a new platform is not always the solution. Do your research. When you look into a particular platform, research their track record with products similar to yours. How well do they do? What do their ads look like? Is there a high success rate? Questions like this can help you determine if this new platform is the right one for you based on their track record.

Connected to the Right People

If you are going to make a sale, you need to connect with the right people. Various platforms will appeal to different groups of people. Facebook tends to be used by everyone. However, the majority of Pinterest users tend to be women (45%). Instagram is typically used by people between the ages of 18 and 24. Snapchat is most often accessed by millennials. Knowing who your target audience is plays a key role in determining whether a platform will be a profitable investment for you.

Align with Marketing Objectives

Not only do you need to connect with the right people, but the platform also needs to align with your overall marketing objectives. Instagram, for example, it not very link friendly and Snapchat relies on pictures. If you are trying to drive people to your website for IT support, Instagram and Snapchat may not be the right venues. Investigate how the platform reaches it audience before significantly investing in it.

Professional Marketing Support & Management Services

There is more to multi-channel marketing than you may realize. It can be overwhelming if you are not particularly marketing- or social-savvy. That’s where 51Blocks comes in. We have the experience, knowledge and personal passion to help your business market itself best. From analytics to full-blown marketing help, 51Blocks is standing by.

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