13 Powerful Reasons To Diversify Your Marketing Channels
Your target audience may be flocking to a certain platform right now, but what if their preferences, site’s algorithms or market forces shift? No matter how great your product or service is, it won’t generate revenue if prospective customers can’t find your offerings. While you should always be strategic and focus on those channels that maximize ROI, having multiple marketing streams can help your business stay nimble enough to survive any sudden changes that might come its way.
Below, members of Forbes Coaches Council share 13 compelling benefits of using a variety of marketing channels.
1. You Can Match Your Customer’s Journey
It is not about your channels; it is about your target customers, where they learn about you and how they make a decision about your products. Therefore, diversifying is not just about the number of channels used. You also need to be where your customers are on their journey. Today, they are usually on multiple channels. – Duong Nguyen, CEMpartner
2. Your Efforts Can Have A Greater Reach
In the age of IoT, you can reach every customer in every corner of the world. By sharing valuable content via social media, podcasts, blogs and online communities, you can gain trust with people and generate interest in you, your brand and your products and services. – Michael Thiemann, Strategy-Lab™
3. You Can Hedge Your Risk
As with any investment, putting all your eggs in one basket is a risky proposition. Marketing is an investment to build your brand and your business. As any financial advisor will tell you, you should hedge the risk by diversifying your marketing channels. Don’t focus solely on social media or just one platform. Think about traditional marketing, too, such as advertising or writing articles for magazines. – Kevin Kan, Break Out Consulting Asia
4. You’ll Be Where Your Customers Are
Determine their needs and preferences so that you can meet them where they are and understand how they want to communicate, be educated and do research. Nothing shows that you listen and care like letting the customer take the lead, then following that lead with your marketing and communications efforts. – Annette Franz, CX Journey Inc.
5. You Can Avoid Dependency On One Channel
To reach the largest number of potential customers, diversifying your marketing channels is essential. Adapt your diversification efforts to focus on those channels that report the greatest benefit. In this way, it is possible to reduce the risk of dependency on one channel. In the case of unforeseen circumstances arising, it will allow you to adapt more quickly to any reality. – José Luís González Rodriguez, ActionCOACH
6. You Can Engage Current Customers While Attracting New Ones
Diversifying your marketing channels, especially at this time, offers an opportunity to engage with existing customers and attract potential customers at the same time. You can accomplish this by earning the attention of target audiences and retaining their interest with impactful and engaging content and solutions. – Izabela Lundberg, Legacy Leaders Institute
7. You Can Gain Useful Data You Wouldn’t Have Otherwise
Diversifying your markets is more important today than ever before. There is so much that is unknown in today’s strained marketplaces, and using opportunities to try new strategies and markets can provide data that could be helpful moving forward. The assumptions businesses have used to guide decisions may no longer be accurate. Diversifying is the key moving forward! – Susan Madsen, Jon M. Huntsman School of Business
8. You Will Have Alternatives If You Get Kicked Off Of A Platform
Any business can be kicked off of any ad platform in a heartbeat—as we saw with the Google slap in 2014 and the Facebook slap in 2019—when it changes its ad standards based on who is consuming the content. You never know when your good run might end. This is why you must learn and use multiple platforms. Just as you diversify your investment portfolio, you must diversify your advertising platforms. – Ryan Stewman, Break Free Academy
9. You’ll Be More Resilient To Uncertain Market Forces
If a business relies too much on a particular marketing channel, it is left at its mercy. If and when sudden market forces disturb a channel, the business will find it difficult to rebuild that channel. Especially in the world of online marketing, the mediums that certain channels use could be wiped out by new legislation or shifts in technology. Thus, it is important to diversify channels. – Jedidiah Alex Koh, Coaching Changes Lives
10. You Will Have More Leeway To Pivot In A Crisis
Almost all in-person marketing and conducting of business came to a temporary halt for a client of mine when travel was closed to Europe and the Middle East. In this emergency, his textile company pivoted production to its U.S. markets in the healthcare area, creating safer materials for workers. If he had not been tilling that soil before the global shutdown, it would have destroyed his business. – John M. O’Connor, Career Pro Inc.
11. You’ll Develop Greater Customer Loyalty
If you provide meaningful content across the channels that your customers value most, diversification can help you develop and maintain greater customer loyalty. Customers in different market segments will often utilize particular channels, and they need to be engaged where they feel most comfortable and familiar. – Jonathan H. Westover, Ph.D, Utah Valley University & Human Capital Innovations, LLC
12. You Can Gain Exposure From Many Different Angles
People consume content in a variety of forms. Google’s research showed there can be anywhere from 20 to 500 market touch points along the customer journey these days before someone decides to buy. By being diversified in your marketing, you can expose your product and services to people many times. Each time, increasing levels of interest and curiosity about what you offer or do will have them wondering, “What is this?” – Debra Kasowski, Debra Kasowski International
13. You Might Get Clients From Unexpected Channels
Some of my biggest clients come from unexpected channels. Consumer behavior is changing rapidly, as are marketing methods. While the rule of thumb used to be “go where your clients are,” I’ve noticed that my clients’ needs have evolved. Diversifying will allow you to sense what clients need, how they consume information and how to better engage with them. – Chuen Chuen Yeo, ACESENCE