Channel mix is the allocation of marketing budget and effort between individual channels – search, social media, email, content, referrals, offline activities and partnerships. A healthy mix combines channels that deliver results immediately with those that build demand for the future, and does not create dependence on a single source of customers. It is precisely this dependence that tends to be the biggest risk for smaller companies: a change in platform rules or a rise in advertising prices can cut off most of the business overnight. A proven approach is to set aside a smaller part of the budget for testing new channels, even when the current ones are working. When evaluating the mix, the interaction between channels, which last-click attribution does not capture, must be taken into account. The allocation is therefore reassessed at least once a year, together with how the cost of an acquired customer has changed in each channel.
See also: Company marketing budget, Media mix modelling, Attribution models.
