APPEALING MARKETING IDEAS TO STAY IN COMPETITIVE MARKET
Over the years, governments have introduced policies to support small and medium-sized businesses. While the initiative allows economies to thrive, it has made markets even more competitive. Whether you are working in a Business to Business (B2B) or a Business to Customer (B2C) segment, competition is tough everywhere.
Short-sighted people label contest as the villain, but wise business people know it is a powerful tool that helps evolve your business. Unless healthy competition dominates the market, companies are stuck with old-age ideas, dull products, and below-average services. In short, competition is a necessary evil in this contemporary world.
One way to take advantage of the competition around you is to keep an eye on your competitors. Even though it might look suspicious, you can take inspiration to improvise your business plan and work on your product’s creativity and uniqueness.
Your product or service doesn’t need to be over the top to make a place in the market. Smart marketing tools can do the same for you. If anything, the year 2020 has taught us that nothing remains the same. A novel coronavirus has turned our world upside down and forced us to accept the fact that we haven’t been doing enough.
Employing appealing marketing strategies can help your business in these trying times. To penetrate a competitive market, you should be clear on three things:
(1) most business is moving online,
(2) customers are tech-savvy and know how to browse internet smartly and (3) they look for engaging content from organizations.
As a business person, you can use a traffic checker to find out traffic flow on your website. It shows whether your content is engaging enough to pull a broad base of customers. Attracting customers can be a walk in the park only if you have captivating marketing techniques. So, let’s explore the top 3 strategies you can adopt to beat the competition.
1. Powerful Content Creation
Content creation or content marketing influences your customer’s buying pattern through education rather than a direct sale. Updating customers about your product and services is crucial, and communication is the key. There are varied formats for this task, which companies use, including blog posts, articles, white papers, eBooks, videos, podcasts, webinars, webpages, and infographics.
The most exciting thing about content marketing is that it doesn’t get redundant. As you learn about new leads, you can easily tailor your content to reflect your customers’ needs and wants.
One way to know how your competitors are at the top of the game is to visit their website or subscribe to their blogs. By doing this, you can see the extra effort they make to become popular among the customers.
Please note that content marketing is not the same as inbound marketing since content creation is just a smaller part of the latter marketing tool.
2. Search Engine Optimization
Did you know that 75% of people don’t bother to scroll past the search engines’ first page? Search Engine Optimization or SEO is a process to bring traffic to your page and create awareness about your brand. Successful execution of SEO strategy means your page will appear high on the organic search results on Google, Yahoo, and Bing.
In modern times, SEO is essential for businesses because customers usually start finding products and services through an online search. And if you are not visible there, then you might as well say goodbye to your business.
The two most important methods of ensuring efficient SEO tactics are keywords and backlinks. Keywords are phrases or text that define your content. These are a few words that a customer is likely to use when looking for a particular product. On the other hand, backlinks are links to your page available on other websites. Through various SEO tools, you can spot websites that redirect the traffic to your page and boost your page’s visibility on the internet.
3. Social Media Marketing
Social Media Marketing is arguably the most popular marketing strategy that organizations use. If you are a smart businessman, you would know a powerful tool in containing cost and reaching a broad user base. Marketing campaigns on social media pages have brought massive attention to businesses.
However, presence on social media is not enough. For added advantage, you must update your page regularly and avoid bad customer reviews. Try to run exciting campaigns that will attract more customers and keep them engaged while browsing your page. You can also visit your competitor’s profile page and see how they go about doing their business and try to identify areas of improvement on your social media page.
The Bottom Line
Marketing strategies are always progressing, and trends are defined by what customers want. As a consequence, companies are still coming up with novel and unique ideas to engage customers. While many organizations choose traditional marketing methods such as billboards and telemarketing, some believe that the above-listed channels are more successful.
Analyzing your competitors’ performance and highlighting their weak points and strengths will make you realize your brownie points and where you are lagging. Having tough competition is nothing to be intimidated about. Just gear up your resources and research the best marketing tools to jump into the playing field.