Finding the right media mix for your business takes some creativity, trial and error, bravery, and patience. Since every business, industry, and market are different, there are very few blanket statements that can accurately be made. However, there are a few tips for finding the right media mix. But first let’s define media mix. A media mix is a combination of different media options you use to grow your business. Now, here’s those tips we were talking about.
- Know your options– In today’s world there’s a dizzying list of options for a media mix. You can use traditional options like TV commercials, newspapers, and radio. On the other hand, you can go with a newer approach and use social media, pay-per-click ads, and inbound marketing. Each outlet has its pros and con, so do your research.
- Set a budget– Once you’ve done some exploring, you’ll need to set a budget to know what you can and can’t afford. There’s some great tools and methods you can use to set a marketing budget. As nice as it would be to spend $10 million on an all out media blitz, you’ll need to limit your options to what you can afford.
- Give it time– Like we said before, this process takes time. One of the biggest mistakes you can make when making your media mix is giving up too soon. It’s a good idea to give every outlet you try at least three months to work. If you try something for two weeks and then drop it because it’s not working well, you’re not giving it a fair chance.
- Target Audience– One of the best questions you can ask yourself is, “who is my target audience?” Finding the most appealing outlet to your audience will do you wonders. Find where they are and be there.
- Research Competition– If you’re just starting out, a really easy way to develop a media mix is to find your most successful competitor, and see what they’re doing. Don’t copy their media mix exactly, but use it as a starting point.
- Analyze Everything– After putting everything into action, be sure to check to see how the plan is working. Creating a good media mix requires a ton of small tweaks, especially at the beginning. Establish benchmarks and standards that will clearly show you your ROI for each outlet.
A media mix is critical to any marketing plan, so don’t be afraid to try something new and check yourself as you go.
