Every sports team develops a strategy for how to play each game depending on the opponents they have to face.
So, doesn’t it make sense that your business should also have a digital marketing strategy for how to win against your key competitors?
To build your game plan we’ll keep it quick and simple using a 3-step process:
Step 1 – A competitive analysis to determine what your key competitors are offering and where they are missing opportunities to fill the needs and wants of your customer prospects.
Step 2 – A customer prospect analysis to develop Buyer Personas. Buyer Personas go far beyond simple demographic descriptions of your target customers. They get right down to the emotional core of the buyer type, uncovering the pain points relating to your products/services that keep them awake at night. This is important to know, because people buy on emotion and rationalize with facts.
Step 3 – Armed with the results from the first two steps, we’ll be able to define the optimal strategic positioning for your brand. Essentially, your strategic positioning answers the question “What makes your company or product or service meaningfully better or different from competitive alternatives, and for whom?”
When you think about it, this is the most critical component for your marketing success. There is no point in spending gobs of money to communicate things to consumers that are the same as your competitors. You want to make sure that the things you communicate in all of your marketing are reinforcing what makes you better or meaningfully different instead.