This is my week 7 review of the CXL Minidegree in Growth Marketing. You can preview it here: Growth Marketing Minidegree | Training Program by CXL Institute. Alternatively, you look at the other programs that CXL offers here: Digital Marketing Training Delivered by The Best. (cxl.com)
Why Channel Optimisation Matters
User centric marketing It highlights the importance of consumer experience. It seeks to use digital tools to enhance users and their journey. Additionally, it looks at ways to confirm our strategy into a campaign at every step of the way. It aims to adapt our campaigns once they’re launched to maximize their efficacy. Every company has an exceptional set of the target segment, value proposition, market placement, etc.. So every business should understand the right channels to acquire and communicate with your customers.
The 5 Growth Channels
Using the ideal channel will help the company to equip itself with the ideal type of tools to utilize the channels efficiently. The five major Growth Channels are: SEM (Search Engine Marketing), SEO (Search Engine Optimization), Social & Display Ads, Email Marketing & Content Marketing
Effective channel optimisation is about understanding the channel user fit for the company.
1. Search Engine Marketing (SEM)
Also known as Pay Per Click (PPC): This utilizes Google Adwords, and Microsoft Bing — it is an open secret that internet marketers around the world spend more than $100 million dollars daily on Google Adwords and on Microsoft’s Bing. Paid search requires continuous optimization to look at traffic, search tendencies, and fluctuation on PPC costs.
2. Search Engine Optimization (SEO)
According to a May 2016 study, Google now handles more than 2 trillion searches every year. Search engine optimization is the main driver of traffic for several companies because we understand that these searches — over 2 billion annually — are coming out of SEO. Search engine optimization is defined as the practice of improving your website’s rank on the search engine results page to be able to get more visitors to your site.
3. Social and Screen Ads
Display ads are the banner ads that you see on various sites all over the world wide web, and social advertisements are the ads you see social media platforms. At the moment, over 3.9 billion people are on social media — that is why it’s very important to understand your audience, where they are, and what social media channels they are using. Though social media advertisements might be time-consuming, there are many online tools which you can use to help you manage your social networking posts such as Hootsuite and Buffer.
4. Email Marketing
Though it is the earliest, Email Marketing is one the best channels, and it converts quite well. It’s an excellent channel to use to retain and engage present customers when it’s personalized.
5. Content Marketing
It is crucial that you understand your clients, in which they are, what they are reading, what they’re doing (offline and online), and what sites they are looking at
How to select which channels to focus on
It is fairly uncommon for a business to be great at all of the stations, especially at an early stage. Basically, you simply have to know where your customers are and what they’re doing. Instead of spreading yourself too thin, it’s important to be able to focus on one to three channels which are working for you. Your purpose must be to find that product market match and be certain it is logical for you — rather than spending time and resources on a station that does not work for you.
How to Pick Channels
Study your Audience
Simply take a holistic look at all of the channels available, where one is your audience more active? Are they engaging on those channels? If they’re not, then you need don’t begin with that.
You don’t need to select a channel that is already too competitive. You have to pick a safe bet to start which in most cases is SEO — which is why it is good to have an insight to your keywords and consider what your competition is doing.
Test it out, in case you have some budget, then you need to test different stations and see which ones are working. For instance it is simple to throw up a Facebook advertisement test, because Facebook advertisements are super competitive. Using a Facebook advertisement, it is possible to drill down and target dependent on the demography of your viewers, and their Interest. You can get very cheap clicks
Quantify the outcomes. Measuring the results is dependent on what your metrics of success are described as, but as growth marketers, we have to check which have good yield on investment (ROI), and also will work in the long term. When a channel isn’t producing revenue or ROI to your company, you ought to be aware if it’s time to trim the budget dedicated to that channel and reduce your losses. Not every channel is ideal for your type of company, so be careful so you don’t waste resources on a channel that will give you insufficient return on investment, also does not have the ability to scale.
Content Promotion Is the glue that Joins all the other Expansion channels together (SEO, Social Advertising, PPC, etc). With content marketing, we have the ability to discuss any info and influence our targeted users. A lot of marketers believe this myth that their kind of customers will not respond well to articles rather than advertising. However, research has proven that 70 percent of customers prefer to get to know a new product through blog posts instead of via advertisements. When you participate with individuals and provide them advice that’s helpful to them, it makes them feel like they are understood by you. Among the most significant benefits of content marketing is that, when done correctly, it turns you into an Influencer in the market — the more articles you pout on the market, the more you grow to be an influencer on your business.