It wasn’t too long ago that megaphone marketing was considered the best approach for reaching the masses. The idea with this marketing concept is to get your name out there and get in peoples’ faces; whether they are interested in your message or not.
While this marketing strategy can be effective depending on how many conversions you get, it can also be expensive. Plus, it’s impractical since consumer behaviors have changed.
Thanks to technology, a consumer has many options for blocking unwanted messages. While megaphone marketing still has its place, magnet marketing is offering greater benefits to marketers in today’s online environment.
Giving Control to the Customer
The purpose of magnet marketing is to place your products or services in front of customers most likely to need them. This is accomplished through several techniques, including embedding cookies to track where a potential customer goes online with the purpose of placing ads on sites they are likely to visit. Magnet marketing also includes:
- Search engine optimization
- Content marketing
- Pay-per-click advertising
- Social media marketing
- Content Creation
By putting the customer in control, you are marketing to an audience more likely to respond to your marketing efforts. The biggest advantage of magnet marketing is getting more bang for your buck since you enjoy a lower cost-per-lead than companies opting for megaphone marketing tactics.
More Accountability for Revenue and Profits
One of the lingering problems with megaphone marketing is reigning in your budget. It’s easy to get caught up in the notion that the investment will be worth it in the long run. There are several problems with this approach. Aside from the unpredictability of making assumptions based on the concept of marketing to a large, undefined audience, subjective measures of ROI may give false impressions of success.
Accurately Measuring the Success of Your Marketing Efforts
There are plenty of options when it comes to measuring your marketing success on a more concrete level. If you are depending on broader marketing strategies, it wouldn’t hurt to obtain concrete stats to show details such as conversions and traffic to each online platform. Once you get effective analytics in place, you’ll know what to keep and and what to cut without the guesswork.
Narrowing Down Your Target Audience
The very nature of magnet marketing makes it necessary to know exactly who your target audience is and how you hope to reach those consumers. Once you know exactly who you are marketing to, your choice of marketing strategies should start to fall into place. If you are going after the teen market, for example, you may opt for ads on music download sites. If you are going for thrifty shoppers, you may opt for ads on coupon sites.
Adjusting Your Marketing Strategies
If your marketing strategies aren’t working with megaphone marketing techniques, you rarely have any option other than scrapping the entire campaign and starting over. If your magnet marketing efforts aren’t working, it’s much easier to make adjustments without ditching everything. It could be something as simple as placing your banner ads on different sites.
Megaphone marketing can be effective if you have a substantial budget or a one-note campaign where you want to convey one major idea. These days, marketing is mostly about getting results without killing your budget. If that’s your goal, magnet marketing is probably a better option for you.