Data analytics are going to allow you to dominate your industry by being a few steps ahead of the competition.
Technology has infiltrated our lives in some very unique ways. When you are a business owner, there are better methods to use technology to help your brand grow. You need to get ahead by understanding the results of your marketing efforts and those in your industry as benchmarks that are going to allow you to gain an edge. An advantage. The ultimate success. A return on your investment that speaks volumes. Looking at your competition and what they are doing that is successful is valuable information to have. That data will help you flourish.
Those are all things that are going to allow you to dominate your industry by being a few steps ahead of your competitors. I’m going to show you how to do this effectively and implement these strategies in your marketing operation plan with these three steps. First is by analytics, second is with a targeted strategy, and finally expand on what you are already doing. In other words, make it bigger, smarter, and better than anyone else in your field.
Step One: Analytics– Competitive Analysis Is Vital For Your Success
Competitive analysis is so important. This strategy will allow you to getting ahead of your competition. There are some key ways you can find out this information and use this knowledge to your advantage. That way the end result is that your business is marketing to the right consumer, at the exact moment needed, and with information that they want to receive.
For example, look at the big department store Nordstrom. They are actually routinely ranked the number one brand for marketing that all professional marketers look at. They have an entire marketing department set up that is constantly analyzing what other departments stores in their industry are doing, to keep a competitive edge for their customers. It’s all about gaining customers and increasing the bottom line by doing things better than anyone else. Nordstrom knows when to position sales effectively, send out email blasts about new items, and get those all important customers shopping in their stores and online each and everyday. They are at the pinnacle of their success by positioning themselves as a leader in the retail industry. You can bet they are excellent at analysis of the entire industry.
IT Technology That Works For You
Now with technology you can easily look up with analytics certain things about other companies in your industry, such as web traffic rank, social media performance, and their search engine results. That way you can see what is working for them and what isn’t. Public data about these companies is everywhere you just have to know where to look for it. These are a few of the big analytics websites that are free to check out according to Inc. Magazine:
Check them all out and find out which ones can give you the best information. Of course, there are some other indepth ones that charge a fee for their services, but try the ones that don’t cost anything first to get some preliminary data, before you subscribe to a paid site. Anything to shave a little off the budget always helps, right? Then you can easily figure out what you can implement in your own company to get results.
Say you need to ramp up your online marketing efforts, or put out a larger social media presence. Namely you’ve found this out because you’ve seen a spike in the marketing results of what your biggest competitor is doing. It’s completely feasible once you see what is working for other companies like yours to plot your next move.
Or if you notice they have some obvious holes in their online marketing efforts, you can jump in to make your content outstanding to outshine the competition. Metrics can tell you great things about how to drive your efforts. Let them steer you towards success. Turn data into gold for your endeavours with your own company.
Online marketing truly can be graded on specific results, such as traffic rank, marketing grade, and even Facebook followers. It’s not as mysterious as you might think it is with real measurable results and data to look at. Understanding how to read this important technology will give you a brilliant edge over your competition. The numbers are there to help you succeed and decide where it’s best to put your considerable marketing efforts into play. Ideally it will allow you to dominate your competition by being a leader in your industry or even with a small business. The fundamentals still operate the same way, no matter what the size of the company is that you run. By tracking what your competitors are doing, you are going to be able to put the best strategy into place. Step one is the starting point of turning your marketing plan around, if it’s lagging in places and not producing the results that you want to see for your brand.
Step Two: A Targeted Strategy– Map Out Your Plan
By knowing exactly how your fellow business owners are performing, you’ll be able to implement a targeted strategy. Map out your plan so that you are most effectively positioning your marketing in the right places. For example, say you notice that it’s your social media feeds that need quite a bit of tinkering. With Twitter, make sure you get on a regular schedule of “tweets” that will showcase your business in the best light. Find out the best times to post and do this often.
The number one problem with social media is that companies without an active presence look like they are lagging behind. Being a strong social media force is the modern way to get into people’s heads and their pockets. Part of social media is meant to be fun, so find your best angle to pursue, so that your customers will sit up and take notice of you in whatever business you have. Then after a while you can analyze the results of your targeted marketing plan to find out what worked and what didn’t.
Step Three: Expand– Go Big Or Go Home
Expanding on your plan and ideas should always be a possibility. Once you have a core system of marketing in place, look around to see how you can make it bigger to do more for your ROI. If you have a solid foundation built on great data about your competitors, you can always do more. That’s the true key to staying ahead of everyone else by being bigger and better. Work smarter with your strategies by taking them to the next level always. Don’t be afraid of being different, more creative, and avant garde with your marketing plans. That way you are leading the pack in your industry instead of lagging behind anyone else. People will soon look to analyze what your are doing in your business to make gains in theirs. Being an influencer is truly the way to go in any business to dominate all others. Contact OnServe today at this (613) 634-8125 and firstname.lastname@example.org in Kingston, Ottawa and Eastern Ontario to learn more about what IT can do for your business advancement.