The cut-throat competition in today’s world has triggered the minds of businesses to think- Whether their marketing strategy is good enough or not. Is this strategy better than what the competitors are doing?
There is a series of questions in the minds of marketers and organizations regarding their marketing strategies. Businesses lacking effective marketing strategies struggle to get sales and leads.
No matter whether you are a startup or a well-established business, competitive marketing strategies are what you’ll need to thrive and get ahead of your competitors. But what are the best competitive marketing strategies that work wonders for businesses besides performing SERP analysis.
If you are also in a dilemma and lack the know-how of marketing strategies, then we have got you covered. Here are some of the best marketing strategies to drive your sales.
Competitive Marketing Strategies
Deciding on the best competitive marketing strategies that’ll work for your business is a daunting task for most businesses out there. Well, some of the ways of determining the marketing strategies for your business would be to do the competitor analysis and use their strategies to create yours.
Besides this, here are some other competitive marketing strategies that’ll drive sales for your business.
Website Traffic
The primary competitive marketing strategy to have is an understanding and fair knowledge of the website traffic your competitors are getting. It will allow you to compare your marketing strategy with theirs.
In addition to this, you can set a benchmark for yourself like how much traffic you should acquire to excel from your competitors. It will also inform you whether the traffic is organic, paid, the source of traffic, and other things.
The information gained from this can be used to determine your marketing strategy and can boost your business growth.
Social media
Incorporating social media into your marketing strategy has become an inevitable part of businesses. No business can ever survive in today’s competitive world without using social media.
Social media marketing not only grows your brand but also increases your online presence. The majority of businesses know the importance of social media but what they don’t know is how to use different social media channels and the tools they should use.
Fortunately, there are marketing analytics tools to assist you in understanding different social media channels widely used by users. Besides this, you can have a look at the kind of content your competitors are sharing and on which platform, at what time they are posting, and other things to get an idea and craft your social media strategy accordingly.
You can also make use of plenty of social media tools to come up with the winning social media strategy to get amazing sales. One such great tool is Adespresso. This can help you make a winning strategy for your business.
Website Visitors
Keeping an eye on the number of visitors who are visiting your website can also play a significant role in building your marketing strategy. No matter how busy you are, you should always keep a close watch on the website visitors of your competitors.
Note certain things about the website visitors like what social media channel they are coming from, and what kind of visitors they are. Look at their demographics like their age, their country, their channel, and other things.
Marketers are in a better position to craft a competitive marketing strategy when they have all the information stated above. Consequently, do proper research and come up with a better social media strategy than your competitors.
Display ads
Next comes the branding/display ads. The studies reveal that around 96% of expected customers leave your website without taking any action. Most businesses are facing this issue.
The alternative to this problem is looking at the display banners and the message they are giving to the customers. Keep note of their tone of voice and design in the display ads. But this does not mean that you copy the exact marketing strategy of your competitors.
Try to take ideas from it and build your own unique marketing strategy depending on your requirements and goals.
Tools
Back in time, marketers had no option but to research and build the strategy on their own as they didn’t have an alternative. Thankfully, this is not the case anymore. With the advent of a wide variety of tools, it has become easy for marketers to build a winning marketing strategy.
Instead of using your brains single-handedly, try to take advantage of the available third-party tools and benefit immensely from their expertise. Do thorough research on the best tools for building strategy and winning over your customers. Take your time and then decide on the best tool for yourself.
Search ads
Including Google Adwords in your marketing strategy can also get you a million dollars in sales if done effectively. While doing so, you can make use of the powerful tool known as Semrush to know the keywords your competitors are targeting and ranking for.
Keep an eye on the ad extensions also. Usually, most businesses make use of the location extension. What this means is aligning your physical location to your ad. Besides this, there is a site link extension by which you can add additional links to your ad.
Knowing all this can assist you in preparing a good strategy for growth and sales. You can also outrank your competitor this way.
Website backlinks
The basis of a successful marketing campaign is Link building. This means that you have to come up with a guest blogging approach. Take ideas from your competitor’s backlinks to determine your approach for the guest post.
You can also make use of tools such as Moz, Semrush, and others to figure out which content might work wonders for you. In addition to this, marketers can also make use of Buzzsumo to get an idea of competitors’ backlinks and shares.
Usually, the websites like .edu and.gov tend to provide the best backlinks and also put you on the path to success.
Content marketing
Content is regarded as King in the marketing strategy and can make or mar your strategy. Analyze the kind of content your competitor is posting and whether the content is getting engagement on social media or not.
Based on your research, you can figure out the content liked by your users and create the content plan accordingly. Make sure your content is different from your competitors. Also, do thorough research before creating content. This will assist you in creating great content for your customers.
Videos
Incorporating videos in your marketing strategy is extremely popular these days and will be in the future too. The research indicates that videos are better at forming bonds with customers than other mediums.
The businesses can plan to do tutorials, testimonials, or behind-the-scenes footage for their potential customers and double up their sales to previous years.
Onsite experience
Besides the ones mentioned above, you also need to focus on the onsite experience you are offering to your customers in your marketing strategy. The best way to know the onsite experience is by visiting your competitor’s site.
Take note of their speed, cost, remarketing, and other things to improve your onsite experience than before and speed up your sales.
Wrapping Up
Consequently, marketing strategy is crucial to businesses and should be an effective one. Using the above-mentioned ideas will assist you in creating your own marketing strategy. Take your proper time and do thorough research to come up with the best marketing strategy for your business.