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MEREDITH HANRAHAN: The increasing digital marketing
environment is actually a great thing, because for
marketers, you can actually test things, see what works,
and reinvest in them.
So the advice I would really give is, particularly if
you're a start-up, when you're starting to build your brand,
to really discover what that one channel is that you can
actually acquire users in and drive awareness profitably.
Then what you can do is kind of start to layer in
additional channels.
So understanding your user proposition and knowing where
they first discover you and then kind of understand that
path to purchase is really, really critical.
Because sometimes we get overwhelmed with having to be
everywhere, and I think that's a marketer's kind of mistake.
When you're starting out and building your brand, figure
out that one channel that drives the profitability, and
then as you layer them in, because I think that's first
and foremost, the beauty of it being a great digital
environment, you can have that instant feedback, is that your
bosses and your CEOs are going to expect a return on
investment in terms of reinvestment.
So the key thing for me is, when you're looking at that
path, drive the profitability first and foremost. And then I
like to save a little pot of money to experiment, to say,
OK, where is my user going to be in a year or two?
And try and figure out where the next generation of
channels are going to be, like today it's mobile, and trying
to save money to see how you could successfully acquire in
that environment.
So the advice I think really is trying to understand those
blend of channels that work best for you so you can
continually have the resources to reinvest and stay ahead of
the trends.