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Day: December 25, 2024

How To Find Your Target Market In 6 Steps

December 25, 2024 / / 0 Comments

 

Now, if you’re new to the channel – and you want to build brands that go beyond those visuals using strategy, psychology and creative thinking, then this is the channel for you – hit that subscribe button and hit the notification bell and you’ll be well on your way. Now. Why is it that we brand our businesses now someone could answer that question with something like to generate leads or to make sales, but these results are a byproduct of what we’re actually trying to do by branding our businesses.

What we’re trying to do by branding our businesses is to make connections with our audience, so we can shape how they see and how they feel about our brand. Now you can do absolutely everything right within building a brand from the strategy and the communication and the positioning to the visual identity and the user experience. But if you do not have a crystal clear image of who your audience is, who you’re trying to connect with? And how they feel how they think and how they act, how they make decisions? If you don’t have that information, then anything else that you do within the development of the brand is going to be for nothing because it won’t be aligned with who you’re trying to connect with.

So, in this video i want to show you six steps that you can use to find that target audience, but before we dive into the nitty-gritty and get down into the individual steps, i just want to highlight the fact that we are at a hugely advantageous position.

These days in how much information is freely available to us out there in the market now i know that a lot of people when they start getting into uncovering who their audience is, they want it handed to them on a silver platter. But if you’re trying to connect with your audience, if you’re trying to build a brand, nothing is handed to you on a silver, a platter. Building a brand is not easy. You have to go out there and you have to find that information for yourself and what you’re prepared to do that.

Your competition is not, will benefit you and your brand, so getting out there into the marketplace and finding the information that’s readily available online. In terms of who, your audience is, is an absolute must, and one of the best places that you can go to for this information is social media, whether your audience is in a group or they’re following one of your competitors, their information is there out in the Public forum out in the public marketplace – and all you have to do – is go and search of that information. Look at what they’re doing and look at what they’re asking.

What is it that they want from your brand from anybody within your marketplace?

So, the information is out there not just on social media, not just on Facebook or LinkedIn, but also in forums as well the likes of Reddit or Quora.

This information is out there. Your audience is asking questions: all you need to do is go out there and find that information so make sure you put your hat with grit on there, so you’re getting out there and you’re doing the work and you’re not just expecting it to be handed to You on a silver platter, step number one start with a title: so you’re just categorizing your audience at this point, you’re not getting into any kind of detail. You want to start as broad as possible because from this point on we’re going to get more and more narrow with every single step, but you you do want to start from a broad point of view.

Just so, you have an overarching idea of who it is that you’re trying to target now.

This might be john, the stylish professional age between 21 and 36, or it might be mary, the sporty mom age between 32 and 45. So you’re really just trying to put a title on who it is that you’re targeting. So you have a broad idea and a broad point of view before we start to get more and more narrow step number two uncover the circumstances of their lives. Now the circumstances of your audience’s lives are essentially their demographics, so here we’re talking about their age, their gender, their profession, their income. Are they married? Do they have kids? Where do they live? All of these details will fill in a picture of the circumstances of their lives, and this is really where the broad title of who your audience is starts to come to life in a little bit of detail.

So, get in to as much information as you can about their demographics and uncover those circumstances. Step number three understand their behaviors, so here you want to really get into the personality of this individual in step. Number two you’re uncovering their circumstances, but step number three we’re starting to get a little bit more human, so we’re starting to uncover things like what magazines they like to read. What news sources they listen to, what type of music do they listen to what food do they like to eat? What restaurants do they like to go to? What do they like to do in their spare time? What sports do they watch? What sports do they play?

What hobbies do they have so this really starts to paint in a picture of the personality that they have the type of person that they are and the characteristics that they have step. Number four identify their goals now, identifying their goals will give you an insight into their psyche in terms of the makeup of the person. So there are two levels to this. Their first goal will be their underlying definitive goal in terms of what their purpose is, what their life’s purpose is, what mission they’re on? What is it that they want to achieve overall within their lives?

What is that main goal, and then on a more contextual level?

What is it that they’re trying to achieve right now that you’re going to be able to help them with within your brand, in terms of the outcome that you provide them so understanding their goals will give you a real insight into their psyche and understanding their goals? On those two different levels in terms of their overarching goals for their lives and then their contextual goals, in terms of what they’re trying to achieve right now, step number five uncover their obstacles, so they are trying to achieve something they are trying to achieve that goal. Their life’s goal their contextual goal, but what is it that’s, standing in the way of those goals right now? What obstacles are they coming across?

What challenges are they coming across?

If it was easy to get to their end goal, they wouldn’t need help and they’re probably going out in search of help, because they can’t do it on their own if they can’t do it on their own. What is it that they cannot do on their own?

What is getting stuck, what is in their way and what is it that they need help with, and step number six reveal their emotions now if they are trying to get somewhere if they have this big goal that they want to achieve. If they have this immediate goal that they want to achieve and something is standing in their way and blocking their route to get there well then they’re gon na have some kind of emotion attached to that now, they’ll have an emotion attached to the goal that they Want to achieve in terms how that will make them feel if they achieve it, and they also have emotions attached to the obstacles that are standing in the way.

How do those obstacles make them feel and if they can’t get rid of those obstacles and achieve that goal? What is that going to do for their lives and how is that going to make them feel so tapping into their emotions in terms of both their goals and their challenges is really really critical. Now, look if you go online and google how to find your audience or look it up on youtube. Even you’ll find a lot of videos and a lot of articles that will talk about the demographics and the psychographics, and they are very important.

They are a very, very important starting point, but if you know the demographics – and you know their psychographics, you still don’t have any real information that will help you to connect with your audience, because it’s through their human emotions that you’re going to connect it’s through understanding. What they’re going through understanding those goals, understanding those obstacles and understanding the emotion attached to both the goals and the obstacles?

So, when you start to look at who your audience is, don’t look for the demographics and the psychographics as the end goal. Look for those that information as a starting point. You want to go a lot deeper than that. You want to understand who your audience is, because when you have this information, you are armed with really really valuable insights that you can use in. Not only the development of your brand, but you can use in the communication at every single touch point to connect and resonate with who your audience is and how they’re feeling. But I would love to hear from you in terms of your experiences and your challenges.

Have you identified your audience, have you created audience personas and uncovered that level of information to then use at every single touch point to then use in the development of your positioning strategy and your communication strategy, or are you struggling to identify who your audience is or Are you struggling to extract that information that you can then use to connect and resonate on a human level?

I’D love to hear your experiences in the box below if you’ve got any challenges?

Let me know in the box below I’ll do my best to answer all of those. If you like this video, please give it a thumbs up hit that subscribe button and the notification bell as well and let you know when i’ve got new videos coming out. If you want more actionable brand strategy, tips and techniques, just like this one head on over to BrandMasterAcademy.com, get yourself signed up for the list.

It’s free and i keep some exclusive content for that list as well, so make sure you’re on that list. But, as I said, I’d love to hear from you in terms of your challenges and your experiences I’ll do my best to answer all of those until next time, brain, like a master, and I will see you in the next video you.

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The Email Segmentation That Every B2B Tech Startup Needs

December 25, 2024 / / 0 Comments

The buyer’s journey tends to be more buyer-centric as actions that they’re specifically demonstrating and lifecycle stage tends to be more your way of looking at a prospect versus an opportunity versus a customer. The Email Segmentation That Every B2B Tech Startup Needs According to the Direct Marketing Association, segmented emails drive 58% of all revenue attributed email marketing. In other words, unless you prioritize email segmentation within your email marketing campaigns, your email results will only achieve about 42% of their true potential. So with this in mind, what kinds of segmentation should B2B tech startups be leveraging? But before we get into that, though, can I ask you to please take a moment and subscribe to this YouTube channel and ring the Bell so you can be notified when new content just like this becomes available?

First up, let’s talk about your buyer’s journey stage. Do you know where a particular contact is in their active research process between surfacing a goal or a challenge and committing to a purchase? If so, be sure to use the buyer persona contact property and buyer’s journey stage — awareness, consideration and decision — to create an email list that you can use in your email marketing campaigns.

This way, you’ll be able to send contextuall-relevant email messages to the right person at the right time. Another big segmentation that every B2B tech startup should be used using is industry.

How many different industries does your company sell to? Does each industry have different reasons for engaging with your company? Do you have separate email campaigns and goals for stakeholders from different kinds of industries or different industries as a whole? If so, create email lists or segments based on the contact’s industry property. Next up, make sure that you take into account the job role or job title in the email segmentation.
Different people within and in the company can have wildly different goals, challenges, and motivations for investing in your company’s product or service. Within the situation, you’d likely want to communicate quite differently with a CFO, a chief financial officer, than you would with an IT professional like a help desk manager.

To make this a reality, make sure that you have an easy way to segment based on contacts by job role, which means by definition, you’re going to likely need a drop down list as opposed to somebody writing in a free form job role or job title. From a practical standpoint, you’d likely need this as a custom contact property, so that way you can segment properly and get your personalization in gear to be able to use that more effectively. Another big email segmentation that every B2B tech startup should be thinking about is language.

This is a huge one, actually. Do all of your prospects speak English, or do they speak some other language? Now, suppose that your email messaging needs to be language- relevant for your recipient and you’re routinely sending messages in other languages besides English. If that’s the case, you will need a contact property that either explicitly or implicitly gathers this information, gathers information on language, and then uses that to auto- populate your email lists for language and your various segmentations along those lines. In addition to the buyer’s journey stages that we talked about earlier, make sure that you understand the lifecycle stage.

This is kind of the first cousin of the buyer’s journey stage. Lifecycle stage is another way of categorizing and segmenting contacts where they are based on the lifecycle with your company. And buyer’s journey tends to be more buyer-centric. It’s actions that they’re specifically demonstrating. And lifecycle stage tends to be more your way of looking at a prospect versus an opportunity versus a customer.

Location is another big segmentation that everyone really should be thinking about. If your prospects and customers are spread across multiple time zones, perhaps even multiple countries or continents, you should use location as another part of your email segmentation strategy. In addition, if your company has a brick and mortar presence where certain kinds of customers and prospects would be more likely to visit or do business with their closest location to yours, this would be another strong use case for keeping track of a location contact property to drive geographically-related email lists. And then finally, think about segmenting on recent behavior; like this is a foundational point of behavioral email marketing. Use marketing automation software that allows you to do double duty as your email service provider and perhaps even integrates with your contentt management system, your CMS, so you’ll have excellent visibility into recent behaviors of known contacts.

For example, you may want to create email segments on most recent email opens or click through or website visits, form submissions, or specific page views. I know with working with a lot of sales teams, they absolutely love to know at the exact moment when someone is viewing a pricing page or viewing a case study page — add them to a particular segment. You can track that from a list and a follow-up standpoint. And at the absolute minimum, you’re going to want to send out an email, an internal email notification, and or an internal SMS notification right away to let the contact owner, to let the salesperson is working with that prospect know that, “Hey, Bob, from ABC company that you talked with last week or what have you is looking at the pricing page right now.” Your sales people absolutely love you for that as long as they know what to do with those leads.

Those are some email segmentation strategies that I think everyone should be thinking about that’s in a B2B tech startup. What kind of email segmentation have you found most helpful for your company? Let me know in the comments section down below. If you’re looking to get some one-on-one assistance with your email segmentation, feel free to reach out. Send me a note on LinkedIn.

Let me know what kind of help you’re looking for, and we may be able to work together. I’m Joshua Feinberg from SP Home Run. And I wish you great success in using email segmentation to provide a better growth path for your prospects and customers in your B2B tech startup.

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The Power Of Storytelling: How To Move People

December 25, 2024 / / 0 Comments

The ability to tell a story well can literally transform your life. It can land you a job in a crowded applicant pool, make you stand out on a first date, or be the difference between your business succeeding and failing. Today, I have a very special breakdown on storytelling not just because storytelling is so important to charisma into life but because I am actually in the breakdown as the interviewer and the person that I’m interviewing is, without exaggeration, one of the people that I most admire on this planet. His name is Scott Harrison and as the founder of Charity: Water, he’s helped raise over 100 million dollars by telling stories for a good cause.

In his own words… We can’t imagine 660 million anything or quantity of anything let alone people without clean water. There’s no connection so what we’ve been intentionally doing, over 11 years now, is telling stories of individual people — one of the 663 million names, faces, hopes, dreams— So in this video, you are going to learn three of the most important principles that will help you to tell more engaging stories in any environment. And I need to warn you beforehand, these stories that are told in this video are heavy and they contain really sad but important messages which is necessary when you’re talking about the truth of why Charity: Water exists.

I’m also going to let the clips run a bit longer so that you can hear a bigger part of the story uninterrupted and then I’ll comment later.

Here we go. As things had it, I happened to be in a five-dollar-a-night hotel room in Ethiopia, I was with a few donors — a small group — I was sitting in the kitchen of this hotel and the hotel owner walks out recognizes me because we’ve been doing work in this region for a while and just sits down and, unprompted, starts telling me a story about a woman who lived in his village in a remote area of about 3,000 people and he said all the women used to walk for water for eight hours a day and they would have these heavy clay pots that they would carry on their back and he said, “One day, one of the women in my village named Letuc Eris,” he had her named, “walks back into the village and she slips and falls and she breaks her clay pots and all the water spills out into the dust,” and he said, “she hung herself and she didn’t go back for more water.” He said, “We found her body swinging from this tree in our village.” And then I remember he kind of paused to watch the story’s effect on us and he said, “The work you’re doing is important.

Keep it up,” and he just disappeared back into the kitchen. So obviously, this story is heartbreaking but there’s more going on here than just that. An important principle of storytelling is that when telling a story in the first person — meaning you’re talking about yourself — you want to take the listener on the same emotional journey that you experienced. So Scott tells the story with this pause from the innkeeper at this moment because that is what you need to absorb what he just said just as he did in the moment when he heard it.

As he continues, he also talks about his emotional response and mentioned that he doubted the truth of this story just as the listener might.

There’s a temptation though to jump ahead when you’re telling stories — to tell the listener what you learned by the end of the story as you’re telling it; do not do that. If you slow down and you take people on the same winding journey that you went on, stories connect much more. Just watch. And I remember sitting there with a group of five people like, “What?” You feel like you got hit with a ton of bricks and then you start doubting it, “Is that story really true?
Just tell the international donors a sad story; make us feel great about the work that we’re doing?” But I just couldn’t really shake the idea, like, that picture of a woman who had slipped and fallen like all of us have done and was in such despair in her living conditions that she tied a noose around her neck, climbed a tree, and then jumped.

So I sent our partners out to the village and I said, “Can you go to this village and tell me first of all if anyone named Letuc has actually lived there and if it’s true.” And, I don’t know, a couple weeks later, I got an email from one of our partners saying, “Yeah, we went to the village and sadly, it’s a true story. We saw a grave.

We met the family.” So then I asked my wife, “Well, I want to go and live there for a week and—” I want to pause here because there’s another big storytelling point going on which is that — every story needs a near-constant element of mystery to keep the listener engaged. You need to constantly raise questions in the listeners mind and every time you answer one, a new one needs to pop up if you’re going to keep their attention. Scott hits on a bit of mystery right before this by asking, “Was this story of Letuc Eris even true?” And we just found out that it was solving that mystery but he immediately raises another question in the listeners’ mind, specifically — what happens when Scott goes to Ethiopia himself?

So let’s see how it unfolds.

Long story short, I went to the village, I lived there for a week, I wound up meeting the priest that gave her funeral, I saw the pile of rocks behind the church that was her grave, I met her mom, I met her friend that walked with her that day, I wound up writing about it on Medium about the experience, and seeing the tree. It’s kind of this frail tree and I didn’t know before I went into the village that she was 13 so that was a huge shock for me. I was expecting an old lady, and I was kind of imagining this hunched 60-year-old woman who had walked for water her entire life; it’s a 13-year-old girl — a teenager.

And I remember — all these through translators — asking her best friend why she thought she actually did it and hang herself and her best friend said, “She would have been overcome with shame because she broken the clay pot, and she spilled the water.” So that is the main action of the story but it doesn’t end here because the best stories have lessons at the end. Kind of like Aesop’s fables, there’s an overarching point which is shared explicitly in the last portion so you need to know your purpose when sharing a story when you get to this point — what is the audience supposed to take away from your story? Here’s what Scott thinks that we should learn from Letuc Eris’ story. It says that this is an emergency like, “Not not on my watch,” right? Something has to be done where 13-year-oldgirls are not hanging themselves on trees because they didn’t have water and because they broke the clay pot.

The first time I heard Scott tell this story, the lessons stuck with me. It inspired me to donate to Charity: Water and it’s how I got connected with Scott in the first place. Point being, at the end of your stories, don’t just leave people hanging; tell them why they just went on that journey with you and if there is some action that they might want to take, tell them. Anyways, this last story is both emotionally moving and a fantastic model for how to tell the story of a product or a business idea; is the storyof how Charity: Water came up with the idea of donating birthdays. Just listen.
We just stumbled upon this idea of asking people to donate their birthdays and birthdays have become very commercial; a lot of companies profit when a guy like you turns 30.

There’s probably a big dollar sign. And now it’s digital like iTunes and Amazon but before, it’s wallets, ties, socks…
You still may just get a bunch of crap that you don’t want or don’t need, really. Scott begins by setting the frame of the problem and if you’re telling stories for your business or for your product, this is where you must start. Most people, when they’re pitching, want to rush right into what their product does; this is wrong because if there isn’t a problem, we don’t need a solution. So start with the problem that your product solves and how the listener can relate to it; in this case, that people waste so much money on birthdays.

With the problem established, Scott will now continue on to his idea for the solution.

We said, “Look. Today, 660 million people don’t have clean water. What if we could start a movement of birthdays and instead of asking for gifts — when you’re 30 or accepting and you’re throwing a big party for yourself — you would turn your birthday into a giving moment and your friends and your family would give your age in dollars?” Now we have the solution — instead of getting a bunch of stuff you don’t need for your birthday, give.

It sounds awesome but it is still missing something and that is the story of one person because our brains are not wired to process numbers or abstract ideas with the same emotional intensity that we process a single person’s story.
This is where people are moved and I’m going to go at this next bit run on uninterrupted to give the full effect of the story. So I was in Seattle, another long crazy story, but there was a church who had thrown a keg party for us; a young hipster pastor who was like, “I want to show my town that we’re not religious…” so he threw a big keg party one of which raising $500,000 from the town.

I went out to thank the church and speak on a Sunday and at the end, I asked everybody, maybe a thousand people there, to donate their next birthday and just say, “Look, guys. Skip it.

Donate your next birthday to Charity: Water.” An eight-year-old girl, Rachel Beckwith, was in the audience and she donates her ninth birthday which was just a few weeks later, skips the gifts, skips the party, and asks for $9 from everyone she knew. She only raises $220.

Now, her goal was $300 so she was bummed. She told her mom that she was upset that she hadn’t reached her goal and that she would try harder next year. I was in the Central African Republic at the time deep in the jungle. Basically, while I was there, she’s killed in a terrible car crash.

There’s a 20-car pileup on the interstate and a tractor-trailer had lost control; she was the only fatality.

So she was in the back of a car, her mom was in the front, her sister was in the front as well and the tractor-trailer just came into the back of the car and crushed her so I remember landing in New York, turning on my phone, getting serviced again and getting a text from her pastor and her mom talking about this tragedy and the family wanted to reopen the campaign. And just give people a chance to honor Rachael’s last wish and donate nine dollars. So you can imagine a story like this begins to spread through the church community and people begin to give nine dollars then it starts spreading around the Seattle community, starts spreading across the country, across Europe, down into Africa, people in Africa started donating nine dollars hearing about a little girl in Seattle who wanted people in Africa to have clean water more than whatever birthday gifts that she should be expected.

Long story short, about 60,000 complete strangers give $9 or more and Rachel, after passing, winds up going from $220 that she saw to 1.3 million dollars impacting over 35,000 people’s lives.

My wife and I got to take Rachel’s family — her mom, her grandparents, and her pastor — on the one-year anniversary of her death. So exactly a year later to Ethiopia to go village to village to village to village to see all the people that had actually gotten in clean water, so this went from just the intangible to the real and I’ll never forget that trip. Cool thing is now — this happened five years ago — so many of the people that donated nine dollars to Rachael’s campaign not only gave money but were inspired to donate their own birthday; they have now raised over two million dollars so Rachel went from a $200-campaign to now she’s raised over three million dollars impacting over a hundred thousand lives. So, from eight people with clean water to a hundred thousand lives— And then of course, Scott ends with the lesson — how do we make sense of this? What do we take from it?

And I think that’s the power of just the story; her story which, again, speaks to values.

Values of it being the purity of heart of a nine-year-old girl to consider others more important to not succumb to the apathy that so many adults… It’s easy, right?

We see the water crisis like, “What can we do about that?” People don’t have water. I mean, a nine-year-old girl— That’s not okay. Why are kids drinking from swamps if I can do something about it with my birthday? So, remember those three points when you tell stories because like I mentioned, these stories told in this way had a huge impact on me personally and they’ve literally shaped where I’ve spent a good portion of my time, energy, and money.
Now, I happen to have a very special day coming up personally and I have one more message for you about that. …special day that is coming up for me is my birthday and it’s in just a few days on Thursday and I’m turning 30 which, yes, I know I’m extremely old and I’m dealing with that internally but I’m actually also very excited for this birthday because it’s a special one because I get to donate it to Charity: Water.

It’s the first time I’ve ever done this, I’ve been excited about it for months and months, and I feel like it is the perfect one to do it because $30 happens to be the amount of money that gets one person clean water for years and years. So I’m trying to raise $30,000; that would get 1,000 people clean water which would be like the greatest birthday present for me ever but also just something really awesome to do so if you want to donate, there’s a link in the description below for my birthday. Ben’s birthday was in August; we both turned 30 and it’s all coming together but would really, really appreciate it and just be so quite frankly humbled and honored if you guys would join us in this fundraiser — any amount that you can give is super appreciated not just by us but by the people who are actually receiving the clean water who don’t have it. Also something that I should share with you which is awesome is that we have a link below if you want to donate your birthday.

This is super cool because even if your birthday isn’t coming up in the next week or so, you can go to that link below, drop your name, drop your email and your birthday which might be, say, next June and they will send you an email them being Charity: Water so that you can do the same thing and the average person raises $1,000 from 15 of their closest friends and family which is incredible and the feeling that I have even before starting this campaign is better than any birthday that I’ve had so I hope that you guys decide to join us in this fundraiser.

Regardless, I’m so appreciative of the fact that I’m turning 30 and I have this platform, and my life is sharing the things that I’m learning, the ways in which I am growing, and it’s just kind of evolving with you guys. It’s amazing and I’m at a loss for words which is not something that is normal for me especially when I’m on camera, so I just want to say thank you guys so much for watching the channel.

I hope that you decide to join us in the fundraiser and of course I will see you in the next video and I’ll be 30.

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Competitive landscape analysis

December 25, 2024 / / 0 Comments

One of the most annoying things in business is when your competitors are getting ahead  of you and you don’t know why. Even though your goods are great, your customer service is great,  and your marketing is sharp and full of useful information, your market share is  still going down. You can’t just watch your rivals and wonder what they’re doing right  to solve this puzzle. You need to be methodical and make a study of the competitive landscape. A competitive landscape analysis is a proactive way to find out how you stack up against other companies in your business.
By using the strengths of your business, you can close the gap between you and your rivals and avoid taking a purely reactive approach. To do it right, you need to plan and put in some work, but the results can be big. What is a study of the competitive landscape? A competitive landscape study is a way to find and learn about your competitors in a planned way. You  do a thorough study into how they make products, market them, sell them, and handle other important  tasks.

Instead of guessing why you aren’t doing well, you can make counter-strategies based on  accurate and reliable facts from the analysis. An study of the competitive landscape should  look at five main things: Who your business’s rivals are What your rivals sell and how they do it The pros and cons of your rivals How your competitors are achieving their goals and how you can do the same The overall picture for the market Every business, from small start-ups  to the biggest companies in an industry, can gain from a competitive landscape analysis. Finding out what your competitors are doing to increase their profits is a great way to increase your own. What a competitive landscape study can do for you A study of the competitive landscape tells you where your business could go in the future. In the short run, it shows what needs to be done next.

By taking a careful look at what your competitors are doing, you can find out more about your potential customers and how you can reach them better. When you look at the competition, you can also get a better idea of what your company’s unique value proposition (UVP) is.

When you know your unique value proposition (UVP), you can focus on the things that make your business stand out.

These are the things you do better than your competitors or differently. Businesses that do well know how important it is to do a competitive landscape study.

Competitive  research is done by about 90% of the Fortune 500 companies. 69% of businesses that have outsourced  their competitive intelligence work have said that it was a good decision overall. Any business can  start getting the benefits of this useful practice as soon as they have a good plan  and the right tools. Here’s what to do first. 8 steps to make a framework for analyzing the competitive scene

1.Get in order If it’s not organized or ordered, reams of raw data won’t tell you much. The first step  is to make an organization tool for your info. Make a matrix or worksheet that you can change,  sort, and share. Having a way to see how your data looks can also be very helpful. You’ll end up with a lot of different data and information to record, but you can start by making a list of your known rivals and putting them into groups.
2.Identify your competition Who are you up against? And how should you put them in groups? You probably know the answer to the first question right  off the top of your head, but you shouldn’t just study the most obvious competitors. Start with a list of ten competitors and sort them into three groups: main, secondary, and tertiary. The main category is for your straight competitors, which are companies that make or sell almost the same thing as you. They are close, but not exactly the same, as the main competitors.

Your  secondary rivals are businesses that sell a version of your product with  different features or that market to a different group of people. In the tertiary category are companies that sell something that is truly  different from what you sell and could be bought instead of what you sell. To take your competitive analysis approach to the next level, you can also add an industry benchmark to see how you and your rivals compare to the averages for your industry.

3. Look at what they say Once you know who the players are, you can start to look at the information they put out and figure out what it means. Pay attention to: How they advertise the way they show things Their website and everything they put on it (blogs, whitepapers, eBook’s, testimonials, emails, etc.) Videos, webinars, and podcasts are all types of multimedia material. Using software tools to find and scrape the material is one way to do this. Don’t be afraid to do study by hand when you need to.  Pretend you’re a customer and go through the buying process to see what material your competitors offer. See what topics, ways of communicating, and choices about branding stand out the most.

4. Check their social media pages. Social media is one of the best ways to find out about your competitors. Buyers  are looking to social media more than ever to get real, unfiltered information and talk about  what they might buy. Businesses that sell to consumers and businesses that sell to other businesses are both rushing to meet this demand with a strong social media presence, a consistent voice, and a lot of material. Most of the time, social media is the best place to get a sense of a company’s brand image. It’s an easy way to find out about their latest marketing plans and how they interact with their customers.

Because social media is so big, tools that help you listen to it can be very helpful. In fact, using social listening for competitive analysis can help you make sure you’re keeping an eye on the right hashtags, keywords, and conversations that might be happening that are important to your business.

5. Look at their business plan and products. When you watch and listen in all the right places, you’ll be able to see the bigger picture of your competitors’ marketing plan. What you’re looking for is: Where are they putting the most effort into marketing? Where do they buy the ads? What perks are they giving buyers to get them deeper into their sales funnel? Pay close attention to the CTAs in their text. Look at their options to see where and how they ask potential customers to sign up for more information. Join their email list to see for yourself how they organize and order their email marketing.  Find out if they are advertising any special deals or free stuff.

With this knowledge, you can figure out how they try to turn leads into customers.

6. Look at what they’re offering and how much it costs You don’t just look at what your competitors do so you can copy them. Sometimes you can see what isn’t working, which is something you don’t want to do. It’s also important to think about how a good plan for a competitor might not work for your business. This is especially true when you are looking at secondary or tertiary rivals. But when setting your costs, it’s important to know what your competitors charge for similar goods or services. You can’t win the battle for people if you charge too much.

On the other hand, lowering competitors’ prices by a lot can mean lower quality or less customer service. You can also find out a lot about what customers want by looking at normal sales for the kind of  goods you sell. This information can help you decide if it makes sense to offer customers free trials, deals, or subscriptions as ways to get them to buy from you.

7.Figure out where they are Companies that have a good marketing and communication plan know how important it is to stand out in the market. Hey, do this by coming up with ways to be different from their competitors. When you look at what your rivals are saying, look for the themes and ideas that set them apart. Imagine that there are three pizza places on the same block. One has the biggest pieces, another has the quickest service, and the third says it has the healthiest ingredients.  All of them are in competition, but they all stand in very different ways.

To come up with your own unique selling point, you need to know how your competitors are positioned.

8. Use SWOT, the PEST, and other models to analyze the competition. For a competitive landscape research process, you don’t have to make up  your own structure. You can use models that have been used before, like SWOT and PEST.
SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. Your business’s strengths and flaws show what it’s like on the inside. Threats and opportunities are outside factors. In a competitive landscape analysis, you try to figure out the SWOT factors of your rivals so you can compare them to your own. PEST is an additional framework that looks at external issues in more depth.

It looks at how a business responds to political, economic, social, technological, and sometimes legal and environmental forces. You can look into other models, but SWOT and PEST are the ones you need to start with.

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Best Internet Marketing Strategies ? Success Is Yours

December 25, 2024 / / 0 Comments

Do you have a list of words that you like? I used to have a pretty extensive list. I had lots of words on there, but unfortunately I have forgotten many of them because I wasn?t thinking about them enough. This is depressing because that list was such a simple little pick me up to maintain. I also liked that I liked the words for absolutely no logical reason. For example, the word ?fusia? was on there and I?m not even one hundred percent sure what color that is, but I like the sound. Incidentally, I?m thinking fusia is a burgundy-ish color.

I once was out to eat with a girlfriend named Kit (actually her name was Katrina and for some reason it was shortened to Kit rather than Kat). The relationship was clearly coming to a close, but we still had a few dinners and drinks in us before the official end. Anyways, that night she told me that she liked the word ?perpendicular? and although I was mentally tainted in my thinking about her, because I knew that we were going to break up, at the moment that she said that, she seemed to me the most beautiful woman in the world. I like words and I like people who like words.

Anyways, I just realized that I also like the word ?strategy?. I?m not sure why. I like it and moreover, just thinking about it makes me wish I had a strategy?for anything?except marketing. I don?t want a marketing strategy and I definitely don?t want an internet marketing strategy. Much like my feelings towards Kit in a positive way, I think that I would be negatively influenced by someone who had an internet marketing strategy. I don?t even want to think about what I?d feel towards someone who claimed to have the best internet marketing strategy. So in conclusion, I feel that the word strategy is cool and I also feel that actual strategies are cool, but a marketing strategy to me reeks of exploitative intentions and to me that is just not cool.

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