How can you prioritize marketing channels in a new market?

The reality in B2B is there's no "best channel". Success comes from using channels in a relevant manner. I've audited a few hundred buying journeys and I can say with certainty that some channels are fundamental (website, Social Media)- how buyers consume information is often a matter of personal preference. Here's more bad news. The "channels" that buyers trust the most - are peers. Not channels that you control. The key is understanding how and why your target buyers, buy solutions, and mapping your marketing activities to this. One thing to keep in mind - if your are just starting out, pick one channel, keep your marketing messages concise and relevant, get that channel to a level of defined success and move on to the next

Each market has its own unique characteristics and preferences. Research local media habits, popular social platforms, and traditional advertising methods. Adapting your channels to fit the local landscape can significantly boost your marketing efforts and help achieve your goals.

There is no one-size-fits-all approach to prioritising marketing channels. It's essential to remain flexible and adjust strategies as the market evolves and as you gain more insights into what works best for your target audience in the new market. Investing in an omnichannel approach is paramount. Facilitating the buyer’s journey now involves more channels than ever before, as prospective clients now regularly use ten 
or more channels to interact with suppliers (up from five in 2016). We're talking from email through to mobile apps.

Different markets sometimes prefer different channels, so make sure you understand where the new market interacts and how do you connect with people there and what kind of content will actually help you stand out.

One quick way to do that is to find a company who is doing good in that market. Check their team maps there., founding year there. This data allows you to know the time it takes to sustain, grow in that country. it is worth checking the team structure they have. This allows you to know if they are putting Sales folks ONLY or other skills as well.

Analyze market trends, challenges, and opportunities. Identify ideal buyer personas, their pain points, and preferences, but don't go too in-depth here, too specific and you'll narrow the market too much to build up a true picture of what will work. Understand their decision-making processes and information sources. Utilize surveys, interviews, competitor analysis, and social listening to gather insights. Tailor your channel strategy to effectively reach and engage your target audience based on your research findings.

Consider factors such as: Reach: Choose channels that can reach a significant portion of your target market. Relevance: Ensure the channel aligns with your audience's preferences and their buyer journey. A relevant channel is more likely to engage and convert prospects. Cost: Calculate the expenses associated with each channel, including advertising costs, content creation, and personnel. Ensure it fits within your budget constraints. ROI: Prioritize those with a history of delivering a favorable ROI in similar markets or industries. Scalability: Consider the channel's ability to grow as your business expands. Integration: Evaluate how well a channel can integrate with your other marketing tools and channels for a cohesive strategy.

Decipher Your Options Dive into the B2B marketing spectrum - from SEO, PPC to webinars. Know each channel’s strengths and limitations. Reach vs. Resonance Don’t just target; engage. Discover where your audience truly resonates. Is it LinkedIn or podcasts? Go where the impactful conversations are. Cost & ROI Balance immediate costs against long-term gains. Some channels demand upfront investment but assure higher returns. Adaptability Ensure your chosen channel can scale and adapt with your evolving brand needs. Integration Matters Channels should work in harmony. Seamless transitions, like from an ad to a landing page, enhance user experiences. Choose wisely, ensuring your strategy aligns with both your brand’s and audience’s pulse.

The best way for B2B Marketing is through a combination of PPC, SEO, and podcasting. Obviously based on the audience it will vary but in general this combination gives good ROI.

Testing and optimization are crucial. Use methods like A/B testing, analytics, and feedback to assess channel performance. Track key metrics and adapt based on insights. Continuously refine your channel mix until you identify the combination that yields the best results for your new market.

Testing it's the best way to grow while staying sustainable. You can start by launching organic initiatives in the key channels to be tested and then collect the results to move onto a paid test in the same channels (we include low-performing ones, and sometimes organic and paid tend to perform differently). Once the test is complete, you can make an informed decision on what your channel mix should look like.

For any new channel, start small to test it out — but not too small. Many businesses believe certain channels don't work because they never allocated enough resources to give them a chance. For paid channels, use performance forecasting tools to run a trial campaign that's allocated enough budget to give it the chance to succeed.

New markets are, by definition, uncharted waters. What worked in your home market might flatline here. So, set metrics but avoid setting stone tablets. The best channel in one market could be a dud in another. Adapt, don't copy-paste. Never underestimate the power of split testing. Channel performance can vary by tiny tweaks in messaging, timing, or even color scheme. If a channel starts performing well, you need the ability to scale it—fast. If you’re bogged down with a rigid plan, you’ll miss the bus. And remember - just because everyone is talking about a new channel doesn't mean it's right for your target audience in the new market. Relevance trumps trendiness.

Concerning channels results, a Pareto rule usually applies. 80% of our results come from 20% of our channels. We need to be flexible and adaptable. Easier said than done. We need to understand how each channel and action fuels into the rest of channels and complement each other. Here attribution and the dark funnel can complicate things preventing us to pinpoint the 20% of the channels that make 80% of the results

Flexibility is key. Prioritizing channels in a new market is ongoing. Monitor market and audience changes, adjusting your strategy as needed. Explore new opportunities and be open to experimentation. Continuously adapt to meet the evolving needs and expectations of your new market.

You know the old saying "the sum is greater than the parts"? The same goes for your marketing channels. No one channel should be carrying everything. It's how you show up in a *relevant* way across multiple channels that leads to long-term success for your business growth.

Diving into a new market? Don't just follow the crowd. Prioritizing channels isn't about 'most popular'; it's about 'most relevant.' Initiate with deep listening. Use social listening tools and survey potential consumers to understand their hangouts. Test micro-campaigns across multiple channels, then observe the resonance. It's not about volume, but engagement depth.

First off, we need to assess if: - It is a new country or region? - Is it a new product? This is similar to Ansoff matrix. If we need to enter a new country, cultural aspects and preferrences are key to be considered. Entering new markets when they are very different from the original market sometimes means adapting, or even creating a new marketing mix from scratch.