Bear with us through this post because we know that very rarely is marketing considered a profit centre. However, if you stop and think about pieces of content you have, they really could be seen in the same asset class as computers, vehicles, savings accounts, etc. In fact, marketing teams and agencies for years have been calling them “assets”, except rather than savings accounts, they are littered across marketing drives and networks in badly organised folders.
So the call to action today is just like a regular bank account, your marketing strategy should have a balance between deposits and withdrawals to ensure consistent growth and sustainability. In other words, the ‘content’ you create are your public facing deposits that attract potential customers and grows your customer base, while every marketing channel you invest in is a withdrawal that ideally generates a return on investment.
However, it’s essential to keep in mind that not all content formats are created equal, and not all marketing channels will be equally effective for different businesses or industries – so here is some pointers for you to take note of
Start Regular Deposits by Creating Compelling Content
The content you create is the most crucial deposit in your marketing bank account. This is the material that communicates your brand’s message and values to your target audience. It also can be any type of content: text, photo, video, animated GIFs, clips, reels, etc.
By varying the type and the message, you can ensure that you are covering all your bases. Our general rule of thumb is every single product or service should have an explainer content piece, a benefits related piece, and a hardcore sales related piece. You can either batch create them or deposit them as and when you are done.
Withdrawals: Choosing Channels
Now that you have a valuable deposit in the form of compelling content, it’s time to put it to work by selecting the right marketing channels for your business. Choosing marketing channels should be based on your target audience, industry trends, available budget, and resources.
Social media, email marketing, SEO, paid advertising, events, and industry publications are all examples of marketing channels you can choose from. However, not all channels work the same for everyone. The great thing is that most content pieces will work across channels, so after they are posted, check and monitor how each performs and use that data to make better decisions next time around. For instance, a really dumb-down example might be if your business targets millennials, you might consider social media platforms such as TikTok & Instagram. On the other hand, if your business offers B2B services or products, LinkedIn might be a better platform to target decision-makers in that industry.
Maintaining The Right Balance
As with an actual bank account, it’s essential to keep a balance between deposits and withdrawals to ensure sustainability and growth. It’s crucial to maintain consistency by continuously producing quality content while strategically selecting and investing in channels that generate a return on investment. The only place where this analogy breaks down is that when you do a withdrawal (or place) the content online, it doesn’t really disappear. It might become old or stale over time, but by removing the original post and reposting it in 6months or a one year’s time will mean you could potentially hit those same numbers again.
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If you need help creating and placing this content online, we are more than happy to help out – reach out to us at [email protected] or book a discovery call today!