No matter the industry you are in, business competition can be fierce. More so if you are a small enterprise or a startup.
Moreover, your competitors can be aggressive, and customer spending can slow down.
Good thing you do not have to succumb to the battle for market share. Here eight digital marketing tips that can get your business ahead of the competition:
1. Know Your Competitors
According to Sun Tzu’s The Art of War, “If you know the enemy and know yourself, you need not fear the result of a hundred battles.”
Hence, the first step in making your business stand out is to conduct a competitive analysis.
Whether you want to do it yourself or hire an agency that provides digital marketing services, you must know who your competitors are. And we are not just talking about businesses that offer the same products as yours. You are also competing against companies within your area.
Once you know who your competitors are, you can run a SWOT analysis. This is where you will identify your strengths, weaknesses, opportunities you can leverage, and threats your must overcome.
That way, you can determine your business’s unique selling proposition.
2. Know Your Customers
Aside from your competitors, it is also vital that you know your customers well. Without them, your business will not succeed.
You can start by learning about your target market’s demographics. This includes their age, gender, and location. And if it matters for your business, relationship status, and educational attainment.
Next, figure out they’re psychographic. This is where building a customer persona and buyer’s journey could come in handy.
This is where you will determine how they can come across a brand like yours, and what will make them buy your products.
PRO TIP: Identify the problems that your product can solve.
3. Create a Robust Digital Marketing Strategy
The beauty of knowing the competition and your customers is that you gain insight into what marketing strategies to use.
Why do you need a digital marketing strategy? That’s because your customers will not buy from you if they do not know that your business exists.
Based on your competitive analysis, customer persona, and buyer’s journey, you can identify the following:
- What online marketing channels to use
- How to use those channels effectively
- Social media influencers to connect with
- How to reach and address your target market properly
- What other brand partnerships you can pursue
4. Don’t Put Your Eggs in One Basket
Your digital marketing strategy should not be limited to one tactic. After all, digital marketing is divided into two primary categories: Organic and Paid.
Some examples of organic digital marketing are search engine optimization and social media marketing. Meanwhile, search ads and social media ads are examples of paid digital marketing.
It will be ideal if you have a healthy mix of the two. That’s because organic marketing is a cost-effective way to build brand awareness. Meanwhile, paid marketing allows you to achieve quick wins for your business.
5. Pick Your Social Media Channels
Just because everyone is on Instagram does not mean you should be. Your business’ nature will determine which social media channels you should use.
This prevents you from spreading yourself too thin while ensuring that you zero in on the platform that has the most positive impact.
Our advice is to pick two social media platforms that can help you boost your sales.
Here are some quick tips to help you identify which social networks to choose:
- Pick the two most popular social media channels that your competitors use.
- Identify where the majority of your target market hangs out online.
- Check out this infographic for some social media facts.
6. Connect With Social Media Influencers
If your business is new in the industry, social media influencers are a great way to build awareness around your brand.
But here’s the thing: Influencers are not limited to people who post their #OOTDs on Instagram.
If your business is in the gaming industry, you can connect with shoutcasters. These are people who stream their gameplay online. You can also connect with people who do game reviews on YouTube.
This is a matter of being creative in connecting with the right people.
7. Don’t Underestimate Email Marketing
Email marketing may sound old school, but that does not mean that it is ineffective. This tactic has been here for a long time for a good reason.
For one, it is a direct channel to your customers. Second, it allows you to send personalized messages to them.
But that does not mean that you should bombard them with email.
An effective email marketing strategy means that you segment your subscribers’ list based on behavior. For instance, blog subscribers will expect a different email from you compare to your e-commerce subscribers.
8. Use the Pareto Principle
The Pareto Principle means that 80% of success comes from 20% of your efforts.
So, how can you use it in your digital marketing strategy?
Whether you are running an SEO campaign or PPC ads, 20% of those should drive sales. This could mean that two out of ten PPC ads should be conversion-driven. The same thing goes with your SEO campaign.
Here’s the thing: The value you provide to your customers makes your business stand out. Thus, it is imperative to focus on delivering value to your customers than pushing them to buy your products.
That’s because the more value you provide, the more trustworthy you become. And customers only buy from brands that they trust.
Digital Marketing is the Way to Do Business
There is no denying that you need digital marketing if you want your business to succeed. But it can be cumbersome to find what tactics will work best for you.
Nonetheless, digital marketing can help identify where you currently stand in the industry. It also allows you to reach out to and understand your customers better.
Most importantly, you can develop a plan on how you can make your business grow. And we hope you can achieve your goals using the digital marketing tips we shared in this post.