Key Fragments of a Marketing Dictionary - Media Mix
April 12, 2023
A media mix is the combination of communication channels a business can use to meet its marketing objectives. Typically, these include newspapers, radio, television, billboards, websites, email, direct mail, the Internet and social media. Combining these channels in a media mix enables you to communicate most effectively with different types of customers and prospects at different stages of the purchase decision, according to the entrepreneur. This refers to the process of using multiple channels to meet marketing goals. The benefit of using a media mix is to leverage different strategies to see which tactics work and lead to better conversions. The question is, how exactly does it help brands better plan campaigns? Let’s dive into how it works. Delivering the Elite: An effective media mix delivers the right marketing message to your customers and prospects at the lowest cost and with minimal waste. If you want to reach a consumer audience across the country, you might use a media mix that includes national newspapers, radio or television. If you wanted to reach a specific group of business decision-makers, such as technical directors, your mix might include specialist business magazines or exhibitions aimed at those directors. You might include personalized direct mail or an executive briefing session in your mix to reach a small number of key executives who influence a major purchasing decision. Entrepreneur notes that the emphasis on the media mixes changes at different stages in the buying cycle. When prospects are looking for information, they may read publications covering their interests, search websites, visit trade shows or check product review sites. So, you must have information about the places they are likely to visit. Your media mix emphasizes raising awareness through advertisements, press releases, product pages on your website, participation in trade shows or comments on social media. When prospects have expressed an interest in your products, you can use a different media mix to nurture them and move them toward a buying decision. The mix at this stage might include an email offering detailed product information, a seminar or a customized sales proposal. The bigger the better : The components of a media mix are more effective when they are integrated. The benefit of an integrated campaign is that the media mix is more effective when the components work together and communicate consistent messages each time, according to MMC Learning. In practical terms, that means using the same creative themes and marketing messages across all elements of your media mix. Prospects viewing an advertisement, website page, direct mail piece or product guide from an integrated campaign would receive consistent messages, with each element of the mix reinforcing the others. In January 2022, according to a survey over 600 media planners discovered their strategies, goals, and challenges. Here are some interesting findings: 1. 84% of media planners surveyed leverage a mix of organic and paid media. 2. Email marketing is the most leveraged media channel, used by 1 in 2 media planners. 3. 41% of media planners surveyed will change their media mix in 2022, while 45% will keep it the same. 4. 14% of media planners currently leverage non-fungible tokens (NFTs) while 16% plan to use them for the first time in 2022. 5. 39% of those who use NFTs in their media planning say they have the best ROI of any channel in their media mix. 6. 39% of marketers surveyed say determining the most effective media mix is the biggest challenge of media planning. Media mix optimization can help your marketing team determine which distribution channels will best promote an upcoming campaign and can ultimately help strengthen your marketing strategy.