Running a company in today’s fast paced business world has its challenges to say the least. Whether you’re small business owner or CEO of ABC Corporation chances are you’re overwhelmed and challenged by the obstacles that are presented to you. The way of marketing your business have changed drastically in particularly within the last 10 years alone. Why so? Innovative marketing solutions such as social media, search engine optimization, search engine marketing, and behavioral targeting are amongst some of the most strategically utilized tactical approaches used by businesses today.
So, how have you been marketing your business on the internet? If you’re still poking around the newspaper and local magazines in hope to score your next big ad then you’re looking in the wrong place. All eyes are on digital media which is where your competitors are shifting most of their marketing efforts towards. Digital media and advertising works primary due to three main reasons – Cost Effective, Return-On-Investment, Audience. Traditional marketing efforts such as TV and Newspaper Advertising are simply Expensive, Much Lower ROI, and Reach a Smaller Audience. The competition you’ve been battling for some time already knows this.
There’s 3 Reasons Your Competitor Is Beating You To The Punch:
- They’re Informed – the competition you’re facing are constantly staying updated on the latest marketing trends within their vertical. They’re doing this by leveraging opportunities via search engines such as Google & Bing in combination of social media platforms such as Twitter, Facebook, & LinkedIN. For the sake of your company these should already be familiar to you. If you’re unaware of the untapped resourcefulness of these social platforms then you’ve been living under a rock for the last five years.
- They’ve Got Tools – your closest competitor is using industry leading applications and software to stay ahead of you. The minute a new trend emerges or a shift in behavior occurs they’re already aware of this and are adjusting their marketing approach accordingly. As a business owner consider investing in applications that will assist you in monitoring of industry behavior in addition to competitor analysis.
- They’re Communicating – the web offers unlimited communication tools for leveraging of your brand. Your competition is quite aware of this and they are utilizing these tools for communication with their target audience. Monitoring and response to brand activity via social media, communities, & blogs is vital to the livelihood of your brand. Your target audience is communicating with your brand via these channels. It’s important that you’re there to address their questions and concerns in an effort to capture their attention.