Every investor needs a diversified portfolio. Having your money invested in one place spells disaster. The same holds true for every business. Every email marketing campaigner needs to invest in a seriously thought out marketing mix. A well-developed marketing mix covers the most important and strategic bases in all your marketing campaigns present and future, covering the widest base of prospects and customers.
What does the term marketing mix mean? It refers to The 4 P’s of Marketing:
- Product (just the right product/brand)
- Price (price is marketable and competitive)
- Place (strategically in the right place – at the right time)
- Promotion (right offer – right audience)
Getting the marketing mix right for your product or service means you are covering all the important bases in your e-marketing campaign. There are no pat answers. Your mix will be unique to your business, product, or service. How do you find just the right mix? You will need to experiment and test the results constantly. The market is changing, and you need to continually adapt and change with it, or get left behind.
All e-marketers want their product or service sell to the greatest range of targeted prospects. Getting just the right mix will take planning, time, and tactics. Here are some steps to help you begin your journey.
How are you currently advertising? Where do people go and what do they read, to find out about your product or service?
- Internet Marketing Online: website, email campaigns, internet webinars, internet conferencing, social media, AdWords, AdSense, digital media
- In Person: one-on-one, networking, telephone, letters, faxes, public speaking presentations.
- The Media: radio, sponsorships, TV/Cable
- Other: direct mail, newspapers, magazines, stores, yellow pages
Your mix will include some or all of the above in different measures of approach. You and you alone must discover what market or markets you want to invest a greater part of your time, money and energy in.
Know your demographics. Every gender, age, and location brings in a different set of buying and interest factors. Meaning, that if you are marketing to college students, you would spend more time on an internet strategy, and some on cable and TV, for that is where your target market spends all their personal time. If your target market is more towards the adult generation, diversifying between internet, TV/Cable, and print might be just the right approach for your mix.
Creating the right mix to a mixed audience. In every successful email business marketing plan, you will need to have a strategy that addresses a vast array of customers, their diversity, and all of their needs and interests. In this case, your plan must consist of various techniques, enabling you to reach a larger targeted group of potential customers.
When preparing any recipe for a special cake or tasty meal, the right ingredients must be added in just the right amounts. Too much or too little, spoils the texture and taste. The meal or desert is spoiled, rejected and quickly tossed into the garbage. All that time and energy and passion goes down the drain. Do not let that happen to your business. Having a good product or service to offer is a great achievement, but without the right marketing mix, you will not have the right audience, not enough buyers resulting in no success.
