Marketing

Learning About Effective Marketing From Your Competitors

SAM WILSON

CO-FOUNDER

While it might seem sensible to put your nose to the grindstone and keep going no matter what, stepping back and taking a look at your competitors and what they are up to can be extremely beneficial. If you want to learn what effective marketing is in your industry or sector, then borrowing a few tips from the top performers is vital if you want to improve.

Here are just a few questions you can ask right now about your competitors:

  • What sort of products or services are they offering?
  • How are they presenting those products and services?
  • What price ranges are they offering their customers?
  • How are they reaching out to customers and marketing their product?

No business owner worth his or her salt will say that those aren’t important questions. Particularly for small businesses, marketing can be an issue so finding out how the successful companies are doing it can make a big difference. You may not have the advertising budget they have but you can certainly discover more effective marketing strategies that can help you develop your own business.

Social Media

There’s no doubt that social media has become one of the most powerful and effective marketing tools around. Take a look at how your competitors handle everything from promoting products to handling customer complaints and you should be able to uncover some useful tips that will help drive more business to your own site. Another thing to look out for is where certain companies hang out in social media – are they joining Facebook groups or engaging with hashtags on Twitter? How do they respond to queries from fans and potential customers?  What posts are being shared the most? There’s an awful lot you can learn from just watching these kinds of interaction.

Integrated Approach

One thing you can certainly learn from your competitors is how to integrate all that marketing activity so that it works together. If a company is running a social media campaign, then look at how their website has been altered to complement it. How do they get customers to engage across a variety of media including email, website and social media? How do they generate interest and keep it going so that it boosts sales? What keywords are they targeting when they write blogs, produce content or have paid for advertising?

What Not to Do

Of course, you can learn a lot from the top performing competitors who are ahead of you. But you can also learn quite a bit from those who are not doing so well. Having an idea of how not to carry out marketing is almost as important as developing an effective marketing strategy. For instance, does producing standard, automatic responses to customer questions on Facebook make them look as they don’t really care or are not bothered about engaging with their fan base? What effect does that have? And can you do it better?

Skyrocket Your Business!

Learn how to find, hire and manage a first-class Virtual Assistant to help grow your business. Get your FREE copy!

  • 10 tasks a VA could do for you today
  • How to find and hire an awesome VA
  • 6 ways to erase your fear of delegating
  • What software you need to use

    Read Similar Posts

    Liked that? We bet you’ll love these other posts too!

    Four Common Mistakes All Business Owners Make

    October 6, 2021

    Running a business isn’t for the faint-hearted. As an entrepreneur, we’re sure you’ve met many people that would like to be in your shoes, but the majority never pursue their…

    Our Top 11 Work From Home Essentials

    September 9, 2021

    As a remote worker having a great home office setup can be a game-changer for increasing your productivity. A dedicated workspace, where you can really concentrate on your work, is…

    Top 11 To-Do List Apps Of 2021

    August 24, 2021

    Spending time researching to-do list apps might feel like the ultimate way to procrastinate, meaning your actual to-do list languishes somewhat, waiting to be dealt with. Well, that’s why we…