Google adwords, SEO, SEM, Facebook Ads, Just Dial listing, Indiamart Listing, 3rd Party Website Listing, Sms blast, Email Blast, cold calling, voice blasts, Whatsapp blast….the list goes on.
Which marketing channel should I focus on? Which one should I choose?
Here is a step by step comparison guide that enlists the criteria’s that you should choose to select the marketing channel.
But it can be that for you other marketing channel can be better fit.
So, here we will teach you the process of choosing the right marketing channel.
I will like to introduce with you the tool to evaluate the marketing channels below.
You should evaluate every marketing channel on these 6 characteristics.
Does the marketing channel can reach many potential customers? How close can it reach to exact customer base? Google search network is very good here.
Say you are into the education marketing. You provide executive MBA programs. 2300 people per month search ” executive MBA from IIM”. “executive mba programs in India” is searched by 500 people in India per month. “Which is the best mba course for working for working professionals” is searched by 500 people. Exactly when they are researching on these topics, you can show google ads.
Let me explain a display ad example. You want to generate leads for your real estate business. Supposingly my home is 2Kms from your office. I just visited magicbricks website. In the evening I am browsing some news websites or entertainment websites. What if now your companies ad saying ” Are you searching property? We are just 2Kms away from you? Let’s talk” pops up on my screen.
The benefits of Google Adwords is that it scores “high” on targeting characteristics.
Generally an individual would want a marketing channel with Targeting Characteristic as “high”.
One Time Cost.
Are there upfront costs? Minimum Spends? Platforms like Youtube video needs upfront cost. Since you have to buy high definition camera and mic etc. Same way when you register 3rd party websites like Justdial or Indiamart, you have to make upfront cost.
You can’t test the platform until you invest.
There is nothing as such with Google adwords.
Out of 6 benefits of google adword this is second one. It has “low” one time cost.
Generally people will want a marketing channel that has One time Cost : “Low”.
Pay as You Go.
Ideally we will want a marketing channel that doesn’t cost high money to pay we go. But that’s not available in real world. You either pay one time or you pay as you go.
Google Adwords has high pay as you go, where as SEO is very low.
But SEO has high upfront cost.
You need to have around 100 high quality blogs, with guest posts, with good designs,
Can you turn the channel on or off at will?
Is there a middle man?
PR is very tough to control. A lot in the hand of others.
To certain degree SEO is also the same. You need to depend on others for guest posting.
You ideally want a marketing channel on and off at your will.
This control helps you to run experiments faster.
Out of the 6 benefits of Google adwords this is 3rd one. It scores “high” on control parameter.
How much time it takes to start the first experiment?
How much time it cost to start running additional experiments?
Do we need technical skills to run the experiments? or Not?
The fourth benefit of Google adwords is that it needs very low input time.
SEO has very very high input time.
Ideally you will want a marketing channel that has “low” onboarding time.
Time To Result.
How fast can we expect results flowing in? How many experiments do we have to run to get meaningful data and reports?
Now out of 6 benefits of Google adwords this is 5th one. It has a very low input time.
Ideally you will want a marketing channel that has very low input time.
If it starts working can you amplify it 10X. Will it show 10X output.
This is very tough with cold calling.
6th benefit of Google adwords is that you can scale it.
In a Perfect ideal world , you will want a tool that has the following:
- Targeting = High.
- One Time Cost = Low.
- Pay as you go cost = Low.
- Control = High.
- Onboarding Cost = Low.
- Time to Result = Low.
- Scale = High.
Out of the 7 characteristics Google Adwords scores high marks for all except “Pay as you go”. It is not possible to get a channel that scores correctly with all the parameters.
Marketing Channels Based on Business Stage.
At various stages of business you aspire to improve different things.
So when you are a startup , you want to choose a marketing channel that helps you to Learn fast. So you are optimizing for Learning.
Generally businesses try to optimize any of the 3 things:
- Learning or
- Volume or
You can’t try to improve all the same time.
You need to focus.
Choose any one or two.
As an established business, you will want to choose a marketing channel that gives volume at lower cost.
This is where SEO is great.
But it has high onboarding time.
Therefore, we suggest, SEO as long term marketing channel parallel to Google adwords as short term marketing channel.
I have used these exact method to choose Google Adwords as a preferred channel of advertising.
Let me share with you my last 12 months Google ads analytics:
Over last 12 months, in this account we have invested 6 lacs , 1.36 million impressions and 504 leads.
These are the beautiful leads that has been generated from google adwords.
Now let me share the Source of leads report from Imaginesales Lead management software of the past 1 week.
You can see from Imaginesales CRM, form each landing page how many leads were generated?
How many converted to business ?
Which marketing channel contributes highest to the revenue?
Which one does the least?
So based on the listed criterias, you can see that advantages of google adwords for small business is massive.
Google is a reason why so many SMEs opened up globally.
Otherwise stalwarts or monied entrepreneurs kept the complete control.
Those days , it was days of newspaper advertisements.
Very high one time cost, onboarding cost was high, very less control.
You had to book the ad 10 days ago.
I will like to know your views.
Please do comment below what do you think?
Want to learn Google Adwords?
Learn from Google Adwords Tutorial.