It is great to be the company with the next great online marketing idea, but wouldn’t you rather be the company that took that idea and did the most with it? Look no further than the rise to dominance of Apple. They may not have been the first to market, but their strategy was simple genius. They watched what other companies did, then went to the drawing board and improved upon everything they saw. It seems to have paid off for them, wouldn’t you agree? Marketing your business online is no different. Forget the trial and error of marketing days gone by. Today the best course of action is to be aware of the successes and failures of your competitors. By keeping tabs on their strategies and analyzing the success rates, you now have valuable information about what did or did not work.
Everything can be improved upon, and that should be the goal with your digital marketing plan. Standing on the shoulders of the most successful of your competitors will eventually allow you to usurp them in dominance. We all know of this quote:
“Doing the same thing over and over again while expecting different results is the definition of insanity”
Be Digitally Aware
- Don’t use a social media platform just because. Make sure it’s relevant to your users and an applicable conduit for your business.
- If you have a networking account – Use It! Commit to using what you’ve created. Blogs with a 3 year-old last posting are extremely damaging.
- Expose competitor’s missing elements and use them as leverage.
- Solve consumer problems by providing answers to questions that aren’t being answered by competitors.
- Attach your brand with a cause – this can be done without cost by supporting a charity or initiative. Goes along way with consumer feelings about your company’s social consciousness.
- Watch what the ‘big dogs’ are doing and be aware of their successes, because their successes could also be yours.
The point here is – ‘the next big thing’ will inevitably be reinvented over and over again, and it’s the most recent iteration of that ‘thing’ that will be the most productive.