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Five Ways to Give Your Marketing a Competitive Edge

2018-03-15

Unless you’re lucky, you’re more than likely marketing your business alongside numerous competitors. And even if you have few competitors, the pace of change in business is such that you may soon face increasing competition. So to succeed in marketing, you must give your marketing a competitive edge. The following five ways can set you on the right path.

Collaborate

Never be afraid to collaborate with other businesses. Marketing partnerships in which you work alongside other entrepreneurs to promote your goods and services can work very effectively. Joint marketing exercises, whether online or more traditional, attract customers with a range of products and services. Moreover, such exercises show customers that you are working not as an isolated unit but as part of a community of businesses that are meeting their needs.

Use your Expertise

Your expertise is unique, so make sure that your customers know this. When you engage in marketing, don’t just advertise your products and services; promote your qualifications, experience, years in business, and success stories. Customers like experts. They feel they can depend on them and are happy to go back to them.

Innovate

Don’t let your business stand still. Think of innovative products and services to offer, and keep abreast of the latest marketing techniques. Most importantly, bear in mind that innovation doesn’t have to cost you money. A lot of new ideas come from the way you approach your marketing and the thought you give to it. What’s more, these ideas can flow from collaboration with other businesses and your expertise. Always be receptive to new ways of marketing and working; your business can then reap the benefits.

Know your Customers

The need to know your customers may sound obvious, but you can give your marketing a competitive edge by looking deeper into what it is that your customers want. Survey your customers to find out what you’ve been doing well and include those factors into your messaging.  And find out what you can improve.  These improvements can also be added to your messaging as you’re solving your customer’s problems, you’ll want to let your potential customers know too.

Cut Costs

By cutting costs, you provide yourself with business flexibility. This flexibility provides greater scope to ensure that when you market your products and services, your prices can match or beat those of your competitors. Technology and software make it much easier to get a lot more done at a lower cost.  In addition to this, software solutions that used to be costly and only for larger organizations are now competing with companies who are trying to disrupt the marketplace.  For example, companies like MailChimp and Constant Contact are now offering low-cost marketing automation solutions.  So if one of your software solutions are up for renewal, it might be time to see if someone else is doing it better and cheaper too.  These cost cuts could go right back into your advertising budget.

Use the ways presented here to give your marketing a competitive edge. You don’t need to invest money, but you do need to spend a little time thinking along the above lines. You can then grow your business and ensure it succeeds.

Read more:  What You Need to Know about Marketing Trends in 2018

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Joanne is an accomplished marketing and sales leader with over seventeen years of experience defining corporate marketing and sales strategies, managing sales and marketing teams, and closing new business with Fortune 1000 customers across a wide range of vertical markets.