One of the most common pieces of advice to new investors is to “diversify your portfolio.” Essentially, this means investing in a wide range of different asset classes and investing in many different markets at once.

This way, you improve your resistance to risk and volatility, you reduce your potential losses in the wake of a disaster, and you can also increase your lifetime returns.

This approach can also be beneficial to your marketing strategies, especially as an emerging business.

What does it mean to diversify your marketing strategies?

Let’s start by reviewing some of the ways you can diversify your marketing strategies.

 

High level strategy. It is possible to use a mix of different high-level approaches. For example, do you want to win over customers with temporary but explosive, high-profile campaigns?

Or would you instead put out a continuous, consistent stream of branding material? Do you favor traditional marketing or a more innovative guerrilla marketing strategy? Well diversified marketing portfolios use a mix of different tactics.

Channel. One of the more obvious routes to diversification is to use a mix of different marketing channels and platforms. You can incorporate many complementary and differentiated strategies, such as search engine optimization (SEO), PPC advertising,

podcasting, printed advertising and even billboard and radio advertising. Additionally, you can invest in different platforms within those channels. For example, within the realm of PPC advertising, you can work with alternative ad networks outside the traditional “Facebook and Google” continuum to reach more people and potentially see better results. This is the common approach for “multi-channel” or “omnichannel” marketers.

target audiences. Some brands have a focused, uncompromising target demographic. Most brands have multiple audiences, or are somewhat flexible in the people they appeal to. If you want to diversify your target audience a bit, or if you have multiple target audiences to work with initially, it is beneficial to broaden the scope of your targeting in the form of diversification.

messaging style. What is your overall style, and what kind of message do you want to include in your ads? You can have clear, consistent brand standards, but even within those constraints, you can have the flexibility to change your messaging style. For example,

you can include ads with simple, minimalist, direct list of benefits and ads with more colorful, descriptive copy. You may sometimes be able to include both in a single ad.

Budget and investment. You also need to think about how you are spending the money. Do you want to invest in these tips as aggressively as possible,

reaching more people in a burst of activity? Or is it more of a marathon, which requires you to reduce your investment and commit to a long-term, steady engagement?

Having a variety of strategic investments available can be helpful.
benefits of diversification
Diversifying your marketing portfolio, if it can be said so, has many benefits for your brand:

broad appeal. For starters, you’ll win wide reach and appeal. Today, the Internet is practically ubiquitous – but that doesn’t mean that everyone uses the Internet.

There are still segments of the population that don’t spend much time online, so if you invest exclusively in a digital marketing strategy, you’ll never reach them. Investing in a wide range of different channels and targeting multiple audiences will help you reach more people overall – and reach segments that might otherwise be lost.
high awareness. It is also possible to create more brand awareness through these diverse tips.

Studies show that repeated exposure to a brand leads to a lot of familiarity and trust; That’s why so many ads rely on their repetition to send an effective message.

If you’re dominating multiple channels at once, your customers will become more familiar with your brand more quickly – and you can earn a better reputation as a result.

Better Customer Relationship. You could also argue that more diverse marketing approaches can lead to better customer relationships. You are able to reach more people in different ways as well as engage them more successfully.

Steadier return. Marketing channels don’t experience the same boom-bust cycle as the real estate market, but you’re still going to experience random fluctuations with different channels.

If you have invested in one channel in particular and there has been a huge drop in it, your entire branding efforts may be in jeopardy. If, instead, your marketing budget is spread across different channels, a major setback to any one channel won’t affect your overall results much.

 

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