Spending part of your marketing budget on a platform like Amazon, Google Ads, or Facebook Ads is a reasonably straightforward method of Advertising to your target consumers. Investing resources for Public Relations efforts like Instagram, Wordpress, Email, or YouTube isn't as easy to measure or categorize, but it's easy to do. The interactive features of modern media platforms allow you to connect with all of your Key Audiences with simplicity.
To be sure, every organization has many audiences. Your Business Plan probably describes one or more consumer personas. Your Communication Plan needs to identify other types of stakeholders for your organization. All of these types of audiences should be taken into consideration when your team creates a Media Mix.
The following is a list of stakeholders that your business should consider for your media mix to plan for long-term growth.
1. Shareholders or Investors
5. Strategic Partners
6. Industry Experts and Influencers
7. Target Consumers
9. Local Community
All of your audiences can easily influence the reputation of your business on social media (or otherwise). It isn't feasible or reasonable to create a media mix for each audience; however, all of your audiences should be discussed during the creation of your Communication Plan so that enough channels are curated to interact with them when situations arise.
Today's interactive platforms make audience targeting easier than ever before. Modern tools can target by geographic location, psychographic segmentation, gender filtering, income level identification, education level, race segmentation, affinity identification, and much more. Additionally, there are many low-cost audience retargeting, or remarketing, platforms that enable you to connect with previous consumers or audiences across websites and content networks with staggering efficiency.
Not long ago, media vehicles allowed advertisers and publicists to control most of the messages that their key audiences received. Marketers generally tried to guide potential consumers through some variation of a marketing funnel, or buyer’s cycle, for consumer stages like Awareness, Interest, Desire, and Action. This paradigm is an antiquated attempt to continuously add potential consumers into the funnel, with little or no consideration for post-purchase behavior.
Modern media platforms give all your stakeholders the power to contribute to the public conversation that molds your business reputation. For this reason, you need to have a detailed Communication Plan so that your business "voice" can be included, and valued, in these conversations.
Vagary recommends the use of a "style guide" for all outgoing marketing communication efforts. A style guide with crucial speaking points, USPs, core values, taglines, and more, will prove invaluable when emotions are high, or your organization finds itself in a crisis management situation.
With modern technology, savvy marketers invest heavily in resources to mine data for business growth. For them, the traditional marketing funnel has flipped; they focus heavily on growing business from their existing customer base (Growth Marketing) rather than focusing heavily on the attempt to add more potential consumers into a funnel. This “new” marketing funnel paradigm concentrates heavily on post-consumption phases like customer reward, loyalty programs, and brand evangelism.
This combination of new technology and a new marketing funnel can create scenarios where the target audience for your communication efforts may include previous consumers or potential consumers–people that are researching consumer reviews about your products and services. In short, your business image can be profoundly shaped by your target audience, whether or not they are previous consumers of your business.
The long-term growth of your brand depends on your adoption of emerging media and your partnership with individuals outside of your organization. Vagary will help you embrace the appropriate media vehicles for your organization that provides you with the utilities you need to engage with all your stakeholders.
Knowing who to target and determining how to communicate with them go hand and hand. Now, more than ever, the creative elements you choose for your communication efforts have long-term consequences for your brand. Vagary will help you craft a Communication Plan and a media mix that considers all of your stakeholders, or audiences. Reaching your key audiences is easier than ever before. Knowing how to communicate with your key audiences effectively is a skill all of its own. Vagary is ready to help you take your marketing communication game to another level.
Vagary can help you craft a Communication Plan with a Media Mix that considers all your Key Audiences.