2020 Growth Tactics: Test Expansion into These Channels
Published: January 21, 2020
Author: Joe Stanton
2020 is in full swing! With the New Year comes resolutions. Many marketers have listed “growth” as a top resolution, which brings me to the topic of channel expansion.
A great way to unlock growth is by testing channels you may not have advertised on in 2019. In this post, I’ll focus on often-overlooked channels that can be a great source of increased incremental traffic to your website, often for a fraction of the price of your current paid media efforts.
Reddit is one of the Internet’s more popular sites, yet it’s a relatively untapped area for reaching potential new customers. Use interest targeting for a broader reach of people interested in subjects related to your business, or try targeting specific subreddits that are relevant to your customer base.
Compared to a platform like LinkedIn, Reddit offers the chance to bring similar numbers of users to the site for a fraction of the price. You can help fill your marketing funnel, build brand awareness, and drive more conversions. For an SaaS client focused on driving awareness and traffic, we saw Reddit perform with a CPC almost 40x times lower as the CPC on LinkedIn.
For this platform, you can start your budget low, test the reaction to your ads, and then look to increase spend on the platform if you are happy with the volume and quality of users you are seeing.
Another platform you may have not tested is Quora, but 2020 may just be the year to try it out for yourself. A benefit to Quora is that it has the potential for more intent-based attention than social platforms. You can target specific topics of questions posed by users, interests users have on the platform, or even specific questions.
If your product solves an issue, you can get your product in front of a user searching for answers. You can tailor your targeting to be relevant to users who would use your product! The platform allows for testing for a relevant and interested audience set.
In a recent test for a B2C subscription client, Quora’s CPCs were nearly 8x lower than those on Facebook.
Again, like with Reddit, this is a platform where I’d recommend starting with a low budget, testing your ads, and increasing spend on the platform if you are happy with your traffic.
Bing, or Microsoft Ads, is a platform that you very well may have already been testing, but if you haven’t already (or if you’ve tested it before and ignored it in the past couple of years), now is the time to give it a shot. While Bing may have a seemingly smaller audience than Google, it doesn’t mean you shouldn’t try it in combination with your Google efforts.
Odds are that your competitors are already up and running on this platform, possibly even on your brand terms, and you could be losing out on potential traffic. Getting started on Bing is quick, as you can easily transfer your existing Google campaigns over to the platform, utilize smart bidding strategies, and test unique targeting options such as LinkedIn Profile Targeting (if you are selling a B2B product, you can utilize the LinkedIn Profile targeting to ensure your spend is reaching your most relevant audience set while intent is high).
Microsoft Ads allows for targeting by:
- Job function
When testing this platform, you can start your budget lower than what you would spend on Google. Maybe try starting at about 10-20% of your Google spend, and look to adjust as performance warrants.
These are just a few platforms out there that you may not be testing yet! Use the new year to your advantage and see if you can reach new users and test the potential of these platforms for your business. You won’t know if they can work for you if you never try!