It’s a fair question, and it’s one that I love to answer. The simple answer is to take an integrated approach that reaches your target audiences in the most effective manner possible. The next step is where the fun really starts.
I love helping clients identify the best way to get the biggest bang for their buck when it comes to marketing. Spoiler alert. There is no one-size-fits-all answer. But don’t stop reading.
Assuming you have a marketing budget (if you don’t, check out this survey report by TheCMOSurvey, which highlights marketing budgets as a percentage of revenues and overall budgets for various economic sectors), let’s talk about what’s happening to marketing on a macro level.
- Media buying is on the rise with digital advertising as the fastest-growing category.
- According to more than a third of CMOs, digital marketing will account for 75 percent or more of their spending in the next five years.
- Mobile advertising is on the rise – in a big way.
- Our B2B friends will spend 14 percent of their marketing budgets on in-person trade shows, conferences and events and 10 percent on digital advertising.
- Social media makes up 10.7 percent of marketing budgets and is expected to grow to 14 percent over the next 12 months.
- By 2018, Internet advertising will be poised to overtake TV as the largest advertising segment.
So, taking these stats into consideration, it’s fair to say at least a portion of your marketing mix should be allocated to digital and – more specifically – mobile. Do some research into how your audience behaves online. What sites to they visit? What social media channels do they use? What keywords are they using to search for your business? Let the research drive your marketing strategy.
But don’t overlook more traditional tactics such as trade shows, radio advertising and public relations, to name a few. These certainly have their place in a comprehensive marketing strategy. Most organizations need to reach people from multiple angles to communicate their message. By combining digital and traditional tactics, you’re more likely to reach your marketing objectives.