Marketing has evolved into an omnichannel approach. This means you can no longer just go after one channel to succeed. Back in the day, companies like Facebook grew into billion-dollar businesses through one channel.
Facebook used email to grow and they did it by having you invite all your contacts to join Facebook.
Yelp was also similar. They grew into a multi-million dollar business through one channel… SEO.
Dropbox grew through social media. If you tweeted about Dropbox, they would give you more space.
These marketing approaches worked well for all of these well-known companies, but what’s wrong with them?
The law of shitty click-throughs
What worked for Facebook, Yelp, and Dropbox were all great strategies, but over time, all good marketing channels got saturated and stopped working like they used to.
As Andrew Chen puts it, first it works and then it doesn’t.
It really is that simple. Sure, those channels can still drive traffic and always will, but as people get used to them, they won’t work as well.
Just check out this image below.
Can you guess what that is?
That was the first banner ad. AT&T created that banner ad and placed it on HotWired.com in 1994. And here’s what’s really crazy… out of all the people who saw it, a whopping 44% clicked on it.
Just think about that… that banner ad had a 44% click-through rate.
We can all agree it’s not an amazing banner ad or design, it just so happens that it was new and novel at the time, so it generated massive amounts of clicks.
Just like how SEO was more effective earlier on, or paid ads were more affordable and produced a higher ROI, or referral marketing was much more effective. There are a lot of single-channel case studies that worked in the past.
Again, it doesn’t mean any of these channels don’t work, it just means that they don’t work as well as they used to work.
So how do you survive in a competitive market?
You take an omnichannel approach. You don’t have a choice other than to use all of the marketing channels out there.
Yes, they will be competitive and saturated, but they still work.
It’s a game of papercuts… papercuts are small and don’t do much damage, but if you have tons of these small papercuts, they will add up and can do some damage.
The same goes with your marketing. If you add up all of these channels that produce a small amount of ROI, it will add up to a big number at the end. But when you look at each channel individually, the results aren’t that sexy. But when you combine them, it looks great.
Start with chat
What do you check more, your text messages or your email inbox?
I bet you are going to say text messages because you look at your phone more often than logging into your email inbox.
But here is an interesting stat for you… did you know that over 6 billion SMS messages are sent daily?
Now can you guess how many emails are sent daily?
That’s a big difference.