What is 360° marketing?
360° marketing refers to targeting all possible marketing channels that are suitable for your brand.
Basically, you want to display your brand at every place where your customers are congregating online.
This approach not only helps your brand to attract more eyes but at the same time increases the brand reputation.
For instance, a digital marketing agency can use the below-mentioned channels:
- Facebook ads (for lead and branding)
- Google ads (for lead and sales generation)
- SEO (search engine optimization)
- Influencer marketing
- Affiliate marketing
- Email marketing
These are some examples of a marketing agency. They can use more and less marketing channels according to their preferences or budget.
The other factor that impacts the number of channels for marketing is ROI. In the end, our objective is to increase sales to boost the organization’s growth.
If you are not getting good ROI from a specific channel then you should not continue that channel at all. But, how would you know which channel is performing good or not for your business?
The answer is data.
360° Marketing Is Data-Oriented Marketing (to get good ROI)
Data helps businesses to evaluate every single metric which is responsible for building a strong business these days.
There are some basic metrics that you should know as well:
Cost per acquisition (CPA) – Cost per acquisition denotes how much you need to spend in order to make one active customer for your business.
Conversion Rate – How many people buy from you if 100 people click on your content on a specific channel. For instance, if I get 100 clicks on my Facebook ad and 3 sales come through that then my conversion rate would be 3%.
Custom lifetime value (CLV) – After acquiring one customer, how much money does he give you by purchasing more products from you. Simply, deduct the acquisition cost from the lifetime purchases of your customer and you will get this value.
All these metrics help you to craft a data-oriented marketing strategy for different channels. Also, if you don’t get a good ROI from a specific channel then you should remove it from your marketing strategy.
In a nutshell, use different channels for your brand marketing and analyze which platform doesn’t provide you with good ROI.
This approach will help you to grow your business fast without wasting your marketing budget.