As the owner of a marketing agency, I hear it all the time: “If my competitors are on social media and writing blogs, or hosting webinars, then I need to as well, right?” On the surface this seems like a slam-dunk “yes!” answer, as we’ve all been taught that you need to be where your competitors are. While I would agree to this on some level, I vehemently disagree on a more fundamental basis with this belief because good marketing practices will tell you that each business is unique and has to offer a unique value proposition to its customers. Therefore, your customers are not exactly the same as your competitors’, and you might want to consider delving a little deeper into what sets you apart, who your audience is and what services/products are relevant to that specific audience.
For example, a car is a car is a car, until Tesla came out with a “car experience”. They could compete, and do compete on some levels with high performance, expensive cars, or some may argue with the “green cars”, but what Tesla did is carve out their own brand, unique placement and experience that sets them apart from the rest. Tesla did what Porsche had done before them, and are forging their own way, creating their own marketing path and winning the hearts and dreams of millions of daydreamers around the world.
Not every company needs a website or social media to be successful, as these are simply tactics, but what they all do need is a service/product brand that is unique. This uniqueness is what will set you apart from your competition and dictate where and what you should invest in to win out your competition.
Is your marketing based on placing your marketing investments where your competitors are? Has this strategy worked well for you? How might you change this moving forward?