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What are good practices to determine the ideal advertising mediamix for a web startup?

  • Situation: I am creating a new web startup in Europe. I have investors helping me so I have some advertising dollars at my disposal. I would like to know how I can find the ideal mediamix for my budget for this year and the next. Which media channel is best suited for each of the different users, from innovators and early adopters to late majority? Do I go 100% online, or do I use classic media as well?

  • Answer:

    Your advertising media mix is very much dependent on the product or service you're offering and the audience you're targeting as different target audiences need to be spoken to in different voices. From innovators to late majority as a potential target audience is too much of an extreme so the question is, who is the primary target audience? Your budget is best focused on your key primary targets to reduce wastage. Then as Stan said above, using marketing channels with low acquisition costs plus high conversions. Continual iteration is key until you get it right, so again as Stan said, short term planning initially is essential to allow for required flexibility. I disagree that it should be purely online. Unless your product is a pure online proposition, you cannot dismiss offline as an option. Integrated campaign have proven time and time again to be successful with customer acquisition. Even if you're thinking pure online the choices include SEO, SMO, Display and Affiliates each of which is broken down to various sub categories. As a startup (even with ad dollars to spend), your best starting point is imagine you have no budget, it forces creative thinking and come up with clever solutions. There is no quick or easy answer to your question because it is dependent on so many different variables. But remember, advertising is not about looking pretty but getting results. Marketing budget is often the easiest to spend yet  gets the least in-depth thought.

Rita Usanga at Quora Visit the source

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I would suggest that you take use marketing channels that are trackable (i.e most easily done on the internet) and then you experiment to see which marketing channels yields lower customer acquisition costs (i.e how much you paid for every person that visited your landing page) and the best conversions (i.e ratio between the number of people visiting your landing page to the number of people who performing a desired action such as singing up to your service). I would also not think about a two year plan or different the different users you mention. The iterative process which described above should be done on a short cycle. Think days/weeks not years. I don't mean this in a harsh way, but don't create a media plan for how you are going to acquire late adopters. Statistically you chance of getting to that stage are low.

Stanislav Beremski

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