Monday, August 20, 2012

The Price Of Chasing The Next New Marketing Channel - Part II

I'm not suggesting you stop chasing the next new marketing channel. But before you do, you should understand the strategic marketing implications of doing so. Perhaps before you leap, you need to master the channels already in use. Competitors may start using the next channel first, but the misuse of a new channel can be damaging.

Here are few things to consider before taking the plunge that will, at least, help you appear more strategic in deployment of a new channel.

1. Have the prospects you want to connect with and engage adopted the new channel, or are you getting ahead of them? Being first may be irrelevant if the markets you serve aren't ready.

2. Does your marketing staff have the skills to successfully implement a new channel? If a successful implementation requires complex new skills, and if it is too time-consuming or costly to acquire that level of competence, it may be too soon to tackle the new channel.

3. New channels have a steep learning curve and are costly. The adoption of a new channel may require configuring systems, upgrading technology, or even adding new systems or training employees. Before you embrace a new channel, develop a business plan to insure the investment pays off.

4. Have you established stable goals for the new channel? Otherwise, you may be in for a lot of rework... and that means lots of time and money.

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To share common sense lessons learned with 40-plus years experience in marketing, sales and as a B2B publisher.