First, a home truth – virtually no small or medium business in existence out there has no competitors. And if we are being honest, regardless of your business type or market position, the competition is fierce these days, with a direct effect on your marketing costs. How can my competitor have an effect on my marketing costs, I hear you ask? Let us take for example, that one of your competitors purchases a bunch of targeted Google Ads, the bids then become higher for everyone else in the same marketing space.
A lot of people have been using, and continue to push, all of the Social media marketing benefits but even in this space, the numbers of ‘themed’ groups in Facebook must number in the thousands. This proliferation makes it increasingly difficult to build a community of your own. Not impossible, but it will take much longer and require a more dedicated focus than in the past.
This struggle to be heard in your marketplace makes it ever more important that you identify your Unique Buying Reason (UBR). What is it that keeps your current customers buying from you and, more importantly, coming back time and again? Without a clear UBR, not what your Unique Selling Proposition is, you run the risk of being amongst the me too! After all, do your closest competitors not also offer, quality, service and support?
With everything said, you need to be watching your competitors, check on their reviews and yours as well and look for key areas they are working in that perhaps you should also. Are they falling in one area that your UBR would stand out from the crowd?
Creatively Yours Ltd helps businesses like yours succeed online through website design, website development, and our Helponomics system, which offers support and training as you need it and highlights areas that could increase your sales.