Small Business Marketing? – Staying Ahead of the Competition!
Small Business Marketing? – Staying Ahead of the Competition! – Other Methods of Marketing – Competitor Marketing Techniques
Try running a competitor analysis, find what online marketing techniques and tools are working for them.
Write them down, and start adding these marketing ideas, to your digital marketing campaign.
For example, if you see a lot of traffic coming through social media platforms, take notice.
Some Common Social Platforms:
Small Business Marketing – Go after that traffic
You can start applying that social media strategy, to your current business profile and Search Engine Optimization outline.
Now, there are steps to implementing this change, however.
Before you start implementing change, however, make sure you do a comprehensive competitor review.
We like to define this extensive review under competitive intelligence.
Business Competitive Intelligence
This process means to gather, analyze and act on any information received through this channel.
There are many ways of gathering competitor intelligence.
Some can come through the following forms:
• An environment for Strategic Decision Making
The Collection Pool of Information
This process of collecting information from varied channels and platforms will involve energy and time.
This is because, information is not just gathered, but also, other sources are researched and defined
Then this information can be analyzed and acted upon, with strategic decision making.
This data is not isolated to just one product or customer base either.
It stems from many communication channels and platforms, all that help to make the best and most informed decision possible.
Channel of Distribution – Technological Shift
With more people taking to online business interactions, the web has opened a very competitive, new market of branding and selling.
Therefore, it is important to analyze and compare your competitors, especially during certain industry seasons.
For example, tax buying season, which usually occurs, late Jan early February.
Review your Competitor
A play on words, but checking out your competitor’s online reviews, can help you learn a lot about your own business operation.
You can collect areas of customer’s dissatisfaction, to great appeasement, from competitor reviews.
This is because, just like everyone is taking to the internet to search information and then buy, so is the online review market.
It makes sense, more people do their buying online of products, for example, commercial truck insurance.
Let’s say you purchased your commercial auto policy through Insurance Agency X, as an example.
You found this local agency, online one night surfing your financial records and accounts.
Next, the insurance policy is purchased online. In many cases, the entire buying process of insurance is done 100 percent online.
This sounds good, and is, until a bad customer experience occurs, and is mentioned on your company profile for the world to see.
Personal Experience – Insurance Agency Encounters
Personal experiences are a major reason for online reviews. The next component of competitor intelligence.
Bad reviews are good for competitor analysis.
This is because, you can study all the concrete reviews that have a less favorable result, and improve on them.
Bad Means Good? – The Online Review Strategy
On a traffic lead perspective, bad reviews can be good for SEO.
This is because, most online users, are more interested in 1-star reviews than a 5 Star.
Think about it.
If you find a company and see all 1-star reviews, aren’t you just a little curious to see what all those 1-star reviews have to say?
It’s human nature, and it can be entertaining as well.
However, there is also a constructive component to this equation, if applied to benefit the customer experience.
Well, this is just not a thought, but an actual, measurable and actionable SEO fact, that was discussed by top SEO journals like Search Engine Land and SE Journal.
So, having bad reviews can work to your favor on an SEO basis, if used appropriately.
This is because of the increased traffic and clicks through rate. This rate is higher than a 5-star rating. This is because, as we already discussed, everyone wants to see what’s behind the scenes.
So, as you can see in this example, alone, you can make something negative, work to your favor.
You just need a great strategy, and positive approach, to start executing your plan.
Foreign Communication in Marketing
However, this is where most online marketing talk can get a little foreign, or fuzzy. This is because, if you do not have experience with search engine optimization or building websites, you might get so frustrated, that you give up.
This is a common occurrence, especially in the world of SEO.
A world that is everchanging, even right up to the second.
Digital Strategy and Planning
So, many factors, including social signals, and other ranking factors are involved in this type of digital online marketing and strategy.
This is the first step, to any successful marketing business strategy. Find which areas need to be attacked, and then, attack them.
Don’t wait a week or two to start implementing this type of marketing, do it now, or hire someone who can do it for you, or your agency.
This is because, time is of the essence when it comes to SEO, and building an online brand and business profile.
Algorithms and the undercurrents of online rankings are always in constant change. This creates for unstable search markets, and why a great action strategy plan is crucial.
Without a good plan and strategy in place, the foundation may not be structured for future online success.
This can occur if the layout or blueprint of the website, was not researched with all the SEO ranking factors in mind.
Foundational Layout – Marketing Plan
This layout starts with keyword researching, which is the interworkings of the entire website.
Think of it as your wireframe, if set up properly, can bring increased amounts of traffic.
If not, however, do not expect much growth or online visibility.
Of course, there are many other onsite and offsite SEO factors.
These ranking factors, which according to top SE Journals, indicates over 200 ranking factors, exist within the algorithm.
So, to achieve and maintain a consistent flow of traffic, a well thought out, online strategy plan, would need to be in place.
This SEO strategy and work would need to be done first, to achieve a consistent flow of traffic.
Online Traffic Conversions – Business Goal
So, how do you begin, enjoying the pleasures of increased traffic and online lead conversions?
No matter, if you own a commercial insurance book or personal lines book, you want to know.
One method, which we already briefly discussed, was competitor intelligence analysis.
This analysis can be done right away, and with favorable results, if properly researched and executed.
This is because if it worked for your competition, why can it not work for you? This statement leads to why we need to examine this area of online marketing intelligence.
It can help pave the road for future SEO strategies, with less time and energy output.
Business Outline – Functional Marketing Techniques
This is because the work has already been outlined.
It is a matter of your business or operations, incorporating the same techniques and strategies used by your competitors.
Looking at your competition helps provide industry insight as well to leads, which helps in traffic conversions and online exposure.
This is because, through careful examination of your competitor, you can find areas that have been missed or overstepped.
This can help you advance your marketing campaign to other avenues, both online and off.
The SEO Plan
We are going to go through some of the most common SEO and marketing strategies first. SEO and online digital marketing is an industry commonly known but misunderstood.
Use these misconceptions to your advantage. Learn from your competitor’s successes and failures.
By examining both, you can learn and strategize a solid base for your online digital efforts and SEO campaign.
Marketing Business Strategy – The Guide
This guide will cover marketing and industry insights. This process will look at everything from promotions, to products to people, and not to mention everything in the middle.
You should have a better understanding of the different marketing strategies, and information to find on your competitors.
As we have explained, this should give you the edge on your industry market, and marketplace.
Moreover, through this process, you will find a sound strategic business decision to implement, whether, through an outside source or in-house.
Either way, your marketing strategy will be able to compete, right away in the online marketplace, with no time lapse.
So, let’s get started.
Business Edge – How to Market Online
At this point, you understand that there is a wealth of information at your fingertips.
This information is not just to benefit you and your business but is accessible to anyone searching online for it.
That’s right, this competitor information is available to all.
This is no secret, and everyone knows, that tons of information on how to market your business online, exist in the open marketplace.
Organize Data and Structure
In some cases, the overwhelming amount of data and information can paralyze even though most avid reader or studious student.
It is a lot of information to absorb, and especially, all at once.
So, with most new information, try taking pieces that will be impactful, now, to your business.
Take those tips that can enhance your marketing efforts now, and implement them, if possible, right away.
It’s because, each small step was taken with online marketing, only fuels future growth, and progress.
The system was designed to work this way. This is because the seed has been planted, and with the superhighway anything is possible.
Superhighway of Online Business Marketing
In most cases, if online marketing is done properly, that seed can very well be a “super seed”, producing an abundance of traffic and exposure for your business and brand building stages.
As we stated, a learning curve may be a limitation to some, but as we suggested, take key points of information from these readings, and jot them down.
Now, continue that process of research and writing down information, and before you know it, a collection of great business ideas will follow suit.
This is because, through the process of writing and reading many marketing strategies online, you learn that there is an underlying core theme with most.
It might be attracting:
• Social users
• Academic users
• Athletic users
• Musically inclined users
• And the list can continue…
The bottom line is, they are all users.
This generalization to attract new users through online marketing tools and strategies is what is of discussion, in the business arena.
This is the core thread to most marketing campaigns, whether they be:
• through a website and SEO efforts,
• or through other more traditional marketing strategies.
Some of these more traditional or “old-fashioned” approaches to marketing, can be just as effective as an online marketing strategy.
Moreover, some of these marketing approaches, are what your competitors may already be using to attract new clients or prospects.
Combined Marketing Power
Combining both marketing tactics, such as online and traditional, can produce even higher results.
Before we tackle both combinations, and how they can ultimately maximize your business bottom line, let’s look at some of the traditional marketing strategies, and ideas in your industry.
Some of these ideas and strategies are right out of your competitor’s playbook, and it’s called competitors intelligence.
As we have discussed, sometimes this knowledge can work to your benefit. The homework has already been researched and implemented.
It is through the tracking process, where you truly understand the shortcomings and strengths of each marketing campaign and strategy.