5 Things Your Competitors Can Teach You About Marketing
Sometimes it seems like your competitors always seem to be a few steps ahead of you. Your business has the brightest minds, the best customers, and a dedicated management team, but you are still trailing behind your competitors.
The objective of marketing is to tell as many people about your business, products and services as possible. If your competitors have a mobile application, you should too. Your competitors understand that 56 percent of all online traffic comes from a mobile device. Your competitors understand that digital media consumption has increased 49 percent since 2013.
Knowing where your target market spends most of their time is very important with 80 percent of Internet users owning a mobile device your marketing strategy must innovate with the change in consumerism.
1. Look for public relations opportunities
A journalist needs great content to write about and distribute to their content-hungry readers. Your business deserves the opportunity to share your story with the public. The public is filled with people that would love to purchase from you if only they knew who you were. As you engage with potential consumers, you also build social proof that you can use for marketing your business.
The 5 most important marketing tactics for B2B businesses are (in order): in-person events, webinars/webcasts, case studies, white papers and videos according to the Content Marketing Institute. Your objective should be to get in front of as many people as possible, always look for ways to build a relationship with the public. Speaking engagements will establish you as a market expert and well as being a guest on webinars and Webcasts. Content marketing is also a great way to engage and establish yourself as an expert in your field.
2. Extend your reach with marketing tools
One-third of marketers say they don’t know which digital marketing channel has the biggest positive impact on revenue. According to Pure B2B, 55 percent of businesses are conducting mobile marketing with mobile applications. If your competitors are utilizing mobile applications to connect with their clients, you need to accelerate your marketing strategy.
If your competitors are utilizing mobile applications to connect with their clients, you need to accelerate your marketing strategy. Business 2 Community's infographic notes that 40 percent of all online shopping purchases now happen on mobile devices, and mobile apps play a significant role in content marketing, according to 83% of B2B marketers.
3. Social proof is king
Ever notice proudly displayed on your competitor's websites is a "featured on" banner? Ever notice a testimonial section or a recent client portion of their website? This is social proof at work.
Your competitors understand the benefit of highlighting the legitimacy and credibility of their business. Why would your competitors have social media badges displayed on their website highlighting the amount of likes and friends they have? Simple, people want to be associated with well-liked and respected brands.
Content marketing is another huge form of social proof. If your business is not writing for major publications, you should retool your marketing strategy. Marketing Insider Group indicated that 88 percent of B2B marketers currently use content marketing as part of their marketing strategy.
4. Your businesses story is more important than your sales
After becoming an award-winning journalist, I realized the duty as a journalist was to not only to report breaking news but to tell captivating stories. After meeting with many journalists inquiring about my business, I noticed that 80 percent of the conversation was about our story and only 20 percent was about our sales.
Your competitors are masters at sharing their story. Share your story not your sales, people are not interested in connecting with your sales story.
5. Social media is for engagement, not excessive promotion
There are 3 billion active social media users worldwide, and there are 65 billion active mobile social accounts globally.
Your website is your selling tool; your social media accounts are your connection tools. Your competitors understand the power of connection. They attempt to be everywhere at all times. Social media is similar to a school cafeteria; the objective is to socialize and make connections before you have to go back to work (or school), the same example applies to social media. I use my social media account to share my recent articles and business successes; my objective is to stay active by sharing great content.
Social media is simply a way to let people know our business is "alive" and available to connect if needed.