How to Stay Ahead of Your Competitors
Do you have a favorite pizza place? If you could pick a theater to watch the newest Star Wars film, would you go to any old movie theater, or pick out a place like Ciné Bistro? Do you prefer Beats or Bose? Why?
In an age where it’s so easy to make a purchase by clicking through your phone, it’s crucial to stay ahead of competitors. After all, people no longer have to drive from store to store to research and compare. All you get is a couple of minutes to either reel them in or lose them to a competitor. So, what can you do to stay ahead in the game?
Study your competitors:
This one is a no brainer. The only way to do better than someone else, is to study what they do and devise a plan on how to improve upon it. Set up Google Alerts to know what they’re up to, as soon as they do it. Attend trade shows and networking events, and subscribe to industry newsletters. Use tools specifically designed to analyze their strategy. And, think outside the box. If you sell unlocked cell phones, your competition isn’t limited to other unblocked cell phone retailers. Keep an eye on startups who may be using innovation to attract your customer base; which brings us to our next tip…
Pay attention to innovation:
Once upon a time, Blockbuster was the largest video rental business everywhere in the country. Then Netflix came along, mailing DVDs right to people’s homes. So, Blockbuster did the same. But somewhere along the lines, streaming movies and TV shows became a thing, and Blockbuster didn’t keep up with this technology. Sayonara, Blockbuster. It’s been nice knowing you. Gonna stay on my couch now and watch Game of Thrones on demand. And then I’ll book an Uber to meet up with friends later. Taxi cabs? What’s that?
Get acquainted with SEO:
Even if you’re at the top of your game and developed a kick ass product or service, your efforts will be futile unless people actually know what you’ve been up to. And where do people go first when they want to research a product? That’s right. Google. Either get really adept at search engine optimization (SEO) or hire a someone to do it for you. Your goal is to ensure that whenever a person does an online search for your product, or whenever you post new content on your website, you appear among the top search results.
Monitor their social media:
Nowadays, that’s where people take their complaints and praises (but mostly complaints). If someone makes a fuss about an issue or makes a viable suggestion, discuss with your team on ways to make that customer happy; then unveil your fabulous new service and how it makes your target market’s life better by addressing their woes.
Staying ahead of the competition is a full-time job. If you want to do it right, you’ll likely need help. Luckily for you, Marketing Matters is here for you. Contact us and see what we can do for your business.