When should you add another paid media channel to your marketing mix? This is a complex question, and the answer is highly dependent upon the state of your business and what you need from your business right now. That said, if you're finding success on one channel, I would argue that it doesn't make sense to expand to another channel, because why not just scale the heck out of the channel that's working?
For example, if you're doing really well on Instagram, posting content and boosting posts or running ads with Meta, why not double, triple, or quadruple the amount you're spending to see if you can max out that platform? You could try this first before running content on TikTok, for example, which has a different workflow, calls for a different type of content, and ultimately requires a learning curve.
In sum, first try to maximize the predictable and repeatable business you're getting from one channel before adding another paid media channel to your marketing mix.
New Paid Media Channels – Should You Add To Your Marketing Mix?
Video Transcript: New Paid Media Channels – Should You Add To Your Marketing Mix?
Let's demystify paid media. Here are three things you should know about paid media right now. This comes from what I've learned working in digital advertising for 20 years.
These insights have been a force for good for the businesses we serve, for the people we work with, and certainly for me personally, keeping my career interesting and invigorating. So the first point is there are an endless number of channels you can run on. The channels are always changing, the algorithms are always updating, the capabilities are certainly evolving over time.
Do not let that overwhelm you. All you need is one platform, meta, TikTok, Google, programmatic banners, whatever it is, to really catapult your business to growth. Your business doesn't have to be on every platform.
It just needs to be on the platform that creates the growth for your business. Unless you're a larger firm spending anywhere from $20,000 to $150,000, $300,000 a month, that's when you start to expand your channels. Instead, double and triple down on the channels that are working and maximize the heck out of those channels.
Share this video with a friend who needs to see this. I'm Robert, your friend in paid media.
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