The Three-Legged Marketing Stool – Part 2

 

Social This is part 2 in a 3 part message containing information on using a combined mix of traditional, digital and social media marketing tools to create a comprehensive marketing strategy.

Digital Marketing Tools-SBDC Gainesville Digital Bootcamp

Digital marketing tools are part of an important go-to-market strategy. However, they do not foster the same outcomes that social media or traditional marketing methods do.

Some of the better known digital marketing tools are, RSS feeds, SEO (Search Engine Optimization), SEM (also known asSearch Marketing) and e-commerce sites.  I use an RSS feed (Really Simple Syndication) from The New York Times that appears on the side bar of my home computer. Without having to give away a lot of person information, purchase a subscription or respond to any surveys, I have the latest current events each day. It is pretty non-invasive and I like that feature.

SEO (Search Engine Optimization) helps to increase web traffic through unpaid or free listings. It’s use makes a website more ‘search’ friendly.  The use of proper titles, descriptions, well formatted URLs, image tagging and header identification are part of the  ‘optimization’ process.  SEM is similar to SEO but typically involves your check book using paid advertising. It is an important part of a marketing strategy because it involves a targeted approach to driving traffic to your internet site.  SEM is also referred to as Paid Search Advertising (PSA).

E-commerce sites afford consumers the ability to shop for your products or services 24/7 anywhere, anytime. There are challenges using many digital marketing tools but they typically do not encourage a conversation (like social media) and are not considered ‘traditional’ forms of marketing. The implementation process often requires technical expertise as well as funds (for example using PPC & Google Ad Words).

Social Media Tools-

Social media tools such as Facebook, Twitter, LinkedIn, Pintrest, Instagram, YouTube typically encourage a post and a response or two-way communication. (It does pose a question when someone creates a business page or a profile page that does not offer interested individuals the ability to engage with comments in a posts). The tool(s) are after all called “Social” and were established to build community. When I create a marketing strategy, I think in terms of three outcomes, reach, engagement and generating a call to activity (CTA).

Digital marketing does not suggest a reply or for that matter encourage one. SEO (Search Engine Optimization), SEM (Search Engine Marketing), RSS (Really Simple Syndication) and having an e-commerce site are referred to as digital marketing tools. These ‘tools’ are a necessary ‘part’ of a marketing strategy by helping you to be found during the ‘Search’ process. However, not all of them suggest engagement or two-way communication.

Over the past 10 years, marketing tools have evolved with light-speed adopting new forms of technology. A well balanced marketing strategy includes the use of many marketing tools including traditional marketing methods, Social Media and Digital Marketing tools (no, they are not the same).  Digital marketing tools differ from social media mainly by communication interaction.

Measure it!

Adding to the challenges of developing a marketing strategy is the need for measuring results. This is important for several reasons, but a primary purpose is to determine the cost of customer acquisition (COCA) – which is often a cold shower for early stage businesses. Knowing this information is a good marketing budget indicator because it helps to answer the following questions, “do I want to spend X dollars acquiring each additional customer and can I afford to increase the amount or do I need to decrease my budget?” It also reveals break even for each new customer – how much a customer has to spend with you beyond the costs to market to them. All marketing tools should be measured by expense and R.O.I.

So how do you put together a combined marketing plan using the right tools for your marketing mix? In part 3 of this series, I’ll discuss a brilliant approach using the Safko Wheel created by my friend Lon Safko in next weeks post.

If you want an in-depth look at how to use the most commonly used social media and digital marketing tools for your business, please join our team on Wednesday, March 18th for the Digital Marketing Bootcamp. It costs $49 and includes lunch. You can get more information by clicking here .

Missed Part 1 of The 3 Legged Marketing Stool Series? Click Here.

 

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