Nov - 7 - 2016
No matter what industry you are in, there will always be competition whether it’s on a national or a local level. But competition is a good thing for your business. It will continue to push your company to grow and make consistent changes in your marketing and advertising strategies to continue winning over new customers and keep the old ones.
What can your business do to stay on top of its game and beat out your competitors?
Facebook Video Advertising
Videos is where it is at. Facebook has seen significant growth over the last year with video usage. Between people watching advertisements or having their videos go viral throughout the platform, people are viewing videos more and more in their newsfeed with over 8 million video views streamed per day. Be a part of the trend and go against your competitors with Facebook video advertising.
Identify the ‘Void’ in Your Industry and Capitalize on It
Somewhere within your industry there is something that is missing. Rather than struggling to figure out a new advertising campaign, figure out what it is that your customers need and then fill that particular void. Maybe you need to reinvent the wheel a little or tap into something that may seem so unbelievably obvious, but not apparent to the common eye. Ask the important questions of what your customers AND competitors are missing.
Don’t Compete on Price Alone
Many people who are eager to bring in new customers try to bring their prices down. Not only will your business suffer from the lowered revenue, but your customers will probably suffer in the long run due to your business not being able to keep up with the demand. Eager customers will be willing to pay the price for the right company. Focus on standing out from your competition with your higher quality products or services versus trying to lower your prices.
Listen, the best way you are going to reach your competitors customer base is by simply communicating with them. Social media gives you a huge realm of opportunity to do just that. Whether it’s learning from their Instagram followers or creating lists from their Twitter followers, you’ll be able to have significant means of opening up a line of conversation with these people or businesses.
Going up against your competitors when it comes to advertising can be tricky, but not impossible. It’s about understanding the actions of your customers and the needs of your consumers. When working on proactive advertising skills, make sure you talk to the professionals at Cigar City Marketing in Tampa, FL to help create solid advertising campaigns that will stand up to the competition. Call or email us today!