31 Aug Spying for Success: What Competitors Can Teach You About Marketing
While being a marketing innovator is awesome, sometimes the best ideas are right under your nose. Have you taken a look at what your competitors are doing lately? Doing so just might yield some effective marketing strategies you can parlay into your own business success. Here’s how!
Get Social Insights
If you’re not on your competitors’ email lists and following them on social media yet, start there. Keeping tabs on their online output can alert you to new keyword/SEO ideas as well as industry trends. Create a Google alert for your top competitors, and let Google do some of your “spying” for you.
Monitor Weaknesses
Sometimes it’s easier to see the flaws in someone else than in ourselves. As you explore your competitors’ sites and business models, don’t just take note of what they’re doing right; notice what they’re doing wrong as well. First impressions count; what impact does their home page make on both desktop and mobile devices? Read their blog and social-media comments for unaddressed problems. Make note of their mistakes, and be sure to not make the same ones.
Offer Better Products
As you browse their products and services, be open to ideas and inspiration about how to make your own versions that are better, stronger, more innovative, more thorough and more affordable. Consider making a purchase to test their overall user experience and learn from what they’re doing well (or not so well). If you see website or blog content that you resonate with, consider putting your own spin on it and making it even more valuable for your own audience.
Compare Brand Ideals
How do your competitors’ goals, strategies and “vibe” compare with yours? Read their mission statement, customer testimonials, case studies and any press they’ve received; sift for gems and ideas for making your own business better. Keeping an eye on what your competitors are up to isn’t about copying or stealing ideas; it’s about seeing what’s working in your industry so that you can stay competitive. Besides, your competitors are probably watching what you’re up to as well, so why not stay on top of their activities and tactics? Put in the time and effort, and you’ll probably glean some brilliant marketing insights and ideas.
What have your competitors taught you about marketing? Share in the comments below!