5 Reasons Why Brands Should Diversify Their Digital Marketing Strategies
by Mashum Mollah Marketing 09 October 2020
Everyone who is pursuing a digital marketing strategy for a brand keeps asking the one question- when will it be successful?
Many people think that doing digital marketing is enough. This prevents them from engaging with the discipline in detail. This leads to poor results, a lack of awareness, and ultimately a complete closure of the strategy.
While digital marketing offers several great benefits for brands, which pursue them, saying it is easy to ace might be a bit of an oversimplification. In this article, we are going to look at five reasons why brands should look to diversify their digital marketing strategies.
Does Diversifying a Digital Marketing Strategy help in the real world?
According to Exults Marketing, diversifying your digital strategy should be done for the same reasons that stocks are diversified for. In other words, if you diversify, you reduce the risks and exposures and stand to gain from multiple channels.
If you are a business owner or a marketing head, I would like you to imagine a scenario. Imagine a situation where your digital strategy only consists of SEO. What will happen to your approach if Google changes its algorithms overnight?
Having a balanced approach, which would include social media presence would enable you to hang tight until you figure out about Google’s algorithm changes. Any brand cannot claim that their audience is only on social media or only on search engines.
Given the logic that good digital performance is reaching your target audiences wherever they are, multiple digital strategies make a lot of sense.
List of 5 Reasons why Brands should Diversify their Digital Marketing Strategies
1. Reach more audiences-
The first and foremost reason to pursue a multi-channel approach to digital marketing is to reach more audiences. In other words, different approaches help you reach, connect, and engage with a larger section of your target audiences. The more channels you can have to reach your audiences, the better are your chances of being successful.
2. Build a Brand across Multiple Platforms-
Have you ever heard of a brand that is a digital success story only by concentrating on Quora Marketing? Chances are, you haven’t. Brands who are true success stories on the digital look to tick all the major boxes- search engine marketing, social media, PPC campaigns, Inbound Marketing, and so on. This helps you build a brand on different digital platforms.
3. Improved Data Studies-
One of the major reasons brands pursue digital is because of the platform’s ability to generate data. This helps brands in making informed decisions, improves performance, streamlines operations, and increases productivity at all levels. Operating at different digital platforms means that brands improve areas for data collection, analysis, and execution.
4. Experimentation for Improved Performances-
If you are just concentrating on one digital marketing strategy, you will never be able to push the boundaries. The success, which can be achieved on digital is infinite. Exploring multiple digital strategies can help in engaging with some more than others. If the experiment is a success, you will see improved results in terms of whatever your KPIs were.
5. Reduces Risks and Over-Exposure-
Too much dependency on one single platform can always be counter-productive from a brand’s perspective. Slight changes in the nature of the platform are sure to send you into a tizzy. As the age-old proverb goes- you should not put all your eggs in the same basket! If you are looking to run a successful business, you always need to reduce over-dependence and risks.
The Final Word
It is no secret that some digital channels will offer greater ROIs than others. However, the same can quickly change as well. Therefore, having a balanced presence across platforms is critical to digital success. Can you think of some other reasons why brands should diversify their digital marketing strategies? Let us know below.