Let me ask a question regarding your marketing initiatives that might be of a sensitive nature for some: How much of what you have planned for in the way of campaigns, media channels, tradeshow activity, collateral, etc., is a holdover from last year and the year before and the year before that?
Now, how many of those activities are part of “status-quo” thinking – it’s just what we’ve always done? How many of these things are ineffectual? In today’s world of measurement metrics, internal analysis and ROI’s, some people would say non-producing activities would not be tolerated by upper management. Well here’s a news flash…these initiatives not only show up year after year but they’re staunchly defended by…upper management.
So why do companies keep investing in these programs and activities? Well, the thinking goes: “We’ve spent $ XX,XXX (and maybe another X) into this. Plus we’ve already invested XXXX hours into the program. We can’t stop now or we’ll have lost everything.” All that’s being done here is engaging in the sunk-cost fallacy that describes the tendency to throw good money after bad. Psychologically, the more you spend on something, the less you’re willing to let it go. But truth be told, once your money is spent, it’s gone. It has no relevance. What counts in terms of getting where you want to be tomorrow, is what that investment is worth to your organization today. It’s important not to consider past costs when making planning decisions, but to make decisions based on future costs and benefits.
There’s something else that marketers do that’s almost a bigger of waste of money than investing in ineffective programs and it’s really the genesis for this blog. What I’m talking about is the total lack of effort that’s put into making programs resonate as well as they could.
We all know that well-planned, well-executed strategic marketing is a lot of work. But then, so is filing for bankruptcy, selling off your assets and shuttering the business – which is the alternative to putting in the required effort. That makes me wonder why companies bother to invest in marketing activities and then put nearly zero effort into executing them. The creative is boring; the strategy is half-baked; the lackluster results are acceptable. This is just throwing good money after bad!
I stumbled onto a great example of this while clicking through the online exhibitor’s list for an upcoming industrial B2B trade show that covers a huge range of industrial services and equipment. Reading the self-authored company descriptions posted by each exhibitor, I was shaking my head in disbelief. Here are just two examples, and believe me, others were even less informative:
“Manufacturer & supplier of Cable/Wire Harness Assemblies, Power Supplies & Fans with Value-Added Capabilities.”
“Precision CNC turning and machining. Design and manufacturer of custom rubber products.”
There were literally dozens of entries like these and they were all written by the companies themselves! And they were free! The more I read, the more dumbfounded I became. Unique selling proposition? Strategic positioning? Differentiation? Okay, let’s shoot lower. Let’s try for just a coherent company description. How is any potential buyer supposed to even understand what value these companies could offer to them from those descriptions?
Trade shows are no small financial and time investment. Consider the possible costs: exhibitor fees, booth purchase, collateral materials, promotional giveaway, travel, meals, and man-hours spent on show logistics and for staffing the booth. So why then would any company that commits to a trade show deliberately and willfully flush that investment away with company descriptions like this:
“Extrusions – profiles large & small, tubing, rod, bar stock, co-extrusion, drilling and forming. Thermoforming. Pressure forming – deep draw, sheet thickness .030″ – .500″, high volume, long or short runs.”
This isn’t even a company description. It’s a list of processes, none of which are unique to this company! You may be thinking, “Rolf, you’re being too hard on these people. They’re doing the best they can.” Yeah, …NO.
Here’s a company description from another exhibitor at the same show:
“Recognized as one of the largest & most reliable service bureaus in the country, [Company] offers clients high quality/low cost tooling & manufacturing. We offer full service to assist our clients from concept through production, and have nationwide locations to serve you.”
At least it’s coherent. This probably took the company rep who (possibly, late at night in his/her hotel room) wrote it in all of about five minutes. Maybe the rep even copied it from the company brochure. The funny thing is that lazy marketers are often the first to wonder why their budgets and customers have disappeared.
Marketing is hard work. But that isn’t an excuse for not putting in your best effort. Or calling on professionals who know how to weave words into dollars.
While the above examples were for a tradeshow, throwing good money after bad certainly applies to other types of marketing initiatives as well, from ads to email campaigns. As a marketing firm ourselves, we don’t treat anything we do for our clients in a ho-hum fashion…because our clients deserve to get their money’s worth. Which is a lot more than what many companies do for themselves. Time to stop spending good money after bad.
I saw a video over the holidays and it got the better of me so much so that I have to say something because these types of videos just need to stop being created by “marketers.”
I’m talking about poorly conceived and produced online videos that we find on countless company websites and social media channels which are completely ineffectual. You know the kind of video I’m talking about: it starts off looking like it was homemade and it never gets better; the on-camera ‘talent’ has none; it doesn’t know when to end; there’s an information overload going on which leads to boredom; no clear understanding of who the audience is; and most importantly, the “WOW factor” is completely hidden or missing.
Unfortunately, this is exactly what some companies have haphazardly slapped together in the name of “meaningful content video.”
As we all know, online video content has just exploded over the past couple of years and it’s going to keep getting bigger in the foreseeable future. For example, did you know….
Yet we still have too many companies that create and post videos which are visual train-wrecks that unfortunately their customers and prospective customers will see. With that in mind, and so that the next video you develop has a chance to be all that it can be, let’s talk about what good videos have in common:
So whether you’re creating a testimonial, promotional, “how-to” or other type of video, the idea is to make sure that people find it interesting, worth spending the time to watch and that it leads to the desired next step. Repeated viewings of your video generally indicates a positive overall experience. Repeatedly having your video, or future videos, being ignored means, well, you know what that means.
“Be interesting, be enthusiastic…and don’t talk too much.” – Norman Vincent Peale
Like you, I’ve given companies, associations, causes, etc., permission to send me information on topics, product information and promotional offers. I knew going into this that some of these companies would be smart enough to know how to market online to their permission-based group and others wouldn’t have a clue. And I’ve been right on both counts.
Permission-based marketing is now at the heart of relationships between companies and their customers and prospects. People opt-in to receive your emails, “Like” your company on Facebook, subscribe to your website’s RSS feed or your You Tube channel, or follow you on Twitter or LinkedIn. But having permission to market to someone isn’t a license to bombard them with marketing messages.
In fact, not knowing when to “zip it” is a classic marketing mistake that too many marketing people make. If marketing is about building relationships with customers, over-marketing is the best way to kill the relationship and send the customer or prospect heading for the door. Just recently, yesterday to be exact, I came across a really interesting study entitled “The Social Breakup” prepared by ExactTarget, a company that provides clear evidence of what happens to customer relationships when the marketer comes on too strong:
Guess the biggest reason people break up with companies? (Drum roll)…Too much marketing. The study showed that:
On that note, let me tell you a quick story about an industry association I did some freelance consulting for. Within their business specialty, they were the largest association in the country but people were increasingly not renewing their membership. After talking to the marketing department and executive management, two recommendations were made: 1) Cut in third the number of emails and direct mail pieces that were being sent out; 2) Find out why people were not renewing. Well, they didn’t like the first recommendation but did ‘humor’ me by taking my advice about doing the research. When the member survey report was finalized it said that the #1 reason for members not renewing was a direct result of their being really bothered by the sheer number of emails they were receiving. Guess what the association did? They disregarded the research and went back to doing what they were doing…no lie!
So, how do you know when you’re over-marketing and about to kill a customer or prospective relationship? It can be a fine line, but here are some principles to guide your marketing planning to avoid this costly error.
At the end of the day, people opt in because they want to hear from you. But if you disrespect the relationship by coming on too strong, customers and prospects will flee. Treating your customers and prospects well is common courtesy; treating their permission to market to them as a gift is even better…it’s a smart marketing strategy. Have a wonderful holiday season.
“Life can only be understood backwards; but it must be lived forwards.” – Soren Kierkegaard
The last quarter of 2012 is almost history and as we welcome 2013 in just 33 days from today, we hope for a future that is successful, rewarding and where dreams will be realized. Having seen the start of more than a few “new business years” during my career, I’ve learned that you can do one of two things in preparation for a new business year. You can yet again try to create a brand new marketing strategy for the coming year or you can pause, look back and do some serious reflecting, resolving to change, or improve some aspect about how you will initiate your future marketing campaigns. For some people, looking back over the past year may be something better left in the rearview mirror; on the other hand, burying your head in the sand can be seen as the primary ingredient in a recipe for another disappointing year…and you know how much the CEO/President/Owner/Founder loves that kind of thinking and pending poor results. So before one celebrates the dawn of a new year…take time to ask yourself what are you going to do to change? What does success in 2013 look like to you and your executive management team?
Speaking for myself and our firm, the end of each year is met with a healthy dose of optimism for the coming year. We see 2013 through a lens of hopefulness, that things will indeed get better. Is that just us or will you and your organization also view the coming year with a level of anticipation that you haven’t had for a few years? Hey, it’s been tough for most everyone out there but let’s remember that at least a few organizations — perhaps your own competitors — have fared better than most despite hard times. They’ve not wasted a good recession by sitting still. So what have they done to plot a course for a more optimistic and profitable path for success in 2013?
Depending on marketplace factors coupled with how well you were able to strategically position your company, the past year was either seen as a success or another year of disappointment. Success if you were able to grow your share of the proverbial pie (maybe at the expense of your competitors) or be sufficiently positioned to stay in business to fight the fight for another year. Or disappointment if things didn’t turn out so well because…(you can fill in the blank). The question that begs to be asked here is, how much last year’s success or disappointment was because of something you had no control over, such as good luck or bad luck, and how much was because of something you did or didn’t do given how the marketplace was shifting? I’ve found through personal experience this is the time to ‘come clean’ and be honest with yourself.
Hey, I’m all for a bit of luck but you probably don’t want to continue betting future success on lucky things happening in the coming year.
With this in mind, here are a few questions to ask yourself as thought starters as you begin the process of looking in the rearview mirror to last year and through your windshield to the next:
As marketers, one thing we know for sure is that change will not stop in 2013. The economy will continue to shift on us —hopefully with less drama. But by reflecting back on 2012, taking control of your marketing activities rather than being tossed around by the waves in the marketplace, along with thinking optimistically about what 2013 can hold, 2013 might actually be a year worth celebrating. It will be for us and hopefully will be for you as well.
I’m so glad it’s over. Probably like you, my home phone was being called at an increasing rate the closer that we got to Election Day. Candidate faces and names were everywhere and on everything from direct mail to lawn signs, outdoor boards to TV and radio commercials. As annoying as it was, there were a number of messaging strategies and tactics that caught my attention because they were executed exceedingly well, which we as marketers should consider adding to our communication toolkits for use tomorrow, next week or next month. For as we all know, your customer and prospects are still being bombarded with marketing messages each and every day by both you and your competitors.
So let me share with you some strategies and tactics used by politicians leading up to November 6th that are worth remembering.
1) Understand the takeaway
Truth is, these folks do have some things to teach us marketers, particularly regarding messaging. They see the world a bit differently than we do, and use techniques most people didn’t learn in school or on the job, such as: It’s Not What You Say, It’s What People Hear. You can have the best message in the world, but the person on the receiving end will always understand it through the prism of his or her own emotions, preconceptions, prejudices, and existing beliefs. We focus too much of our energy on finding the best way to sell our message, and too little on understanding the filters consumers have as we deliver it. Political marketers care more about takeaways than inputs.
2) Make it look good
Have you seen the biographic videos produced by the two Presidential candidates? They were extraordinarily well done. A number of other political ads were also well done from a storytelling and video perspective. They stayed on message knowing the one critical point (not 4 or 5 points) that they want to make sure was communicated. The videos were shot and narrated well. They didn’t hire amateurs to do their work but had expert writers and producers creating the content. Like with your business, there’s too much at stake to do cheap stuff because everyone knows what cheap means. People interpret what your company/brands stands for based on the quality of creative and the media channel it’s presented on. Don’t go out until you look good.
3) Be the genuine article
Business marketing sometimes seems to stretch the truth a bit too much. When marketing messages are sufficiently public and sufficiently wrong, the press will get wind and call you on the truth of your marketing. Transparency of your brand could never be more important. It is less about giving the appearance of perfection and more about being genuine and human as we build relationships. While it’s critically important to tell your story and the benefits of your product or service, it’s not fine to lie about them. My mom use to tell me “Lies have short legs.” Meaning, you can’t outrun the truth …so don’t stretch it very far.
4) You are who you say you are
In the world of politics, I would argue that there’s nothing as important as branding and having people recognize what the brand stands for. Brand consistency is always maintained. Unlike politicians, too many companies struggle with this, swinging wildly from one branding concept to another. Everything from the taglines, to the logos, to the visuals has been choreographed beautifully. Get your branding figured out right now. Here are a few questions to ask yourself to determine if your branding is clear:
5) Be social..not antisocial
Politicians don’t just post stuff to their respective Twitter or Facebook accounts and hope people will read it. Rather, they actually engage with their social media audience. They post images and video. They have their immediate families and supporters use social media regularly. How is your company using social media to spread the good word about your company? I’ll be the first to say that spending a lot of time, money and resources on social media is not right for every company, maybe even yours, but without some presence, you’re letting the competition become more visible and be seen as a legitimate business partner at your expense.
6) Telling the story again and again
Why are some political ads annoying? Some of it is the content, but I think most of the annoyance is the quantity of political advertising as elections draw near. But politicians know one thing: without a communications budget that allows you to be out in the market in a way that shows you’re “a player”, you won’t get the job done. Far too many companies who do ‘invisible marketing’ base their companies short and long term success on thinking that customers will pick them over a brand that’s actively marketing and better known. The takeaway is that repetition is key …but too much repetition annoys.
As I said earlier, I’m glad the madness of the political advertising season is over but I’m grateful to have learned a few things because each and every day customers and prospects are voting who they want to do business with. Let the winner be you.
A friend and I were watching a football game on TV when a commercial came on for a paint retailer. At the end of the commercial, my friend said “I don’t trust them for a minute. They don’t look or sound the part at all.” I started thinking about why some companies are trusted and others aren’t. And so I’ll pose the question to you: in today’s marketplace, with people not wanting to be sold to but rather base their purchase decision on many other factors, is your company better off just selling products and services or selling trust along with your products?
One of the greatest demonstrations of selling trust came about years ago when Chrysler Corporation was being dragged back from the brink of extinction by its then CEO, Lee Iacocca. Chrysler was seen as having a flawed product and not to be trusted to build a good car. Lesser men would have resorted to selling at the cheapest price with giant discounts and 0% interest. They would have also gone down with the ship by making futile arguments about the features/benefits of the cars. Iacocca rejected this thinking and instead sold his personal guarantee…his promise…by saying “If you can find a better car, buy it.”
So then, what are the few key factors that will make your business such a trusted and relied-on presence in your customers’ lives that they will stay with you – and spend with you – for many, many years?
As I write this, virtually every advertiser, marketer and seller struggles in an un-trusting world. The public has very, very, scorched fingers and badly-bruised confidence. The temptation to overcome this mistrust with stronger product pitches, cheaper prices or deeply discounted fees – did I mention, cheaper prices – is enormous. And dangerous. To do so worsens the fundamental problem of low trust and deprives you of the finances needed to effectively market at all.
Unfortunately, and we all see it in our personal and business lives, there are bunches of companies out there who are “hit and runners.” They’re more in the business of getting customers to make sales rather than making sales to get customers. The first provides only income. The second provides income and equity. It’s sort of like the difference between dating and a long-term marriage. It’s about being there and having the other person’s back. That the other knows you care about them. That you find ways to stay interesting and relevant over the years. Sad but true, most marketers don’t really think about a long-term marriage with customers. They take it for granted or give it no importance. They’re focused on income not equity. Like you, I buy things from stores or service providers where not even a feeble attempt at creating an ongoing relationship is made. I think the thinking is “We did OK, he’ll be back.” Well, maybe and then again maybe not.
So, what can companies do from a marketing standpoint to start the process of building trust within the minds of their current and prospective customers? Here are eight thought-starters:
So, while we as marketers understand that we’re in the business of helping drive revenue for the company among other challenges, let’s not lose track of the fact that it’s always easier to derive sales from an existing customer versus that of a new customer. And that only happens if they trust you. And they’ll only trust you if you look and act the part. Don’t have your company be a “poser”…you’ll be found out!
by Rolf Gutknecht, Agent of Change (c) 2012
A friend of mine sent me a video by email last week that, as a marketer, I loved. It was one of those ‘old school’ videos featuring “America’s best salesman”…Elmer Wheeler, who’s message is as relevant and meaningful today as it was when he delivered in the 60’s. After watching it a number of times, and because of the subject matter, it made me think of an interesting way to look at what the brand experience is all about.
[youtube=http://www.youtube.com/watch?v=UW6HmQ1QVMw]
So here goes:
Imagine that you and your significant other decide to go to a well-known, fancy-schmancy steakhouse for a special night out dinner. Have that in your mind? Good. Now, picture another steakhouse of similar reputation. Both of the steakhouses prepare the same quality of steak but with one difference….. whereas the first restaurant makes a steak the way it’s supposed to be made (a thick clean cut, placed on the center of the plate) and presented with some tasty vegetables nicely positioned on the side and professionally put on the table, the second restaurant has a similar plate presentation but with no steak on it. Their steak gets delivered just a minute later on a hot stone tablet to your table…simmering and sizzling. The waitress presents the steak with elegance, and sprinkles some salt and pepper on top. While the aroma of the steak makes your mouth start to water and the sizzle gets your full attention, she begins to tell the story of the family who own the vineyard of the wine you selected. What a different brand experience that is! Same item, same quality, different way to engage the consumer. The difference isn’t about the steak but rather about the sizzle.
So why does the “sizzle” matter?
1. Anyone can make good steak
As we know, product or service quality is a fragile thing. No matter how many patents you have, how well you have integrated your supply chain and perfected your quality standards, no matter how much money you spend on R&D, anyone who really, really wants to go after you will eventually copy what you do or make and perhaps even perfect the product you so passionately protected.
2. The sizzle is a difficult thing to copy
Branding, brand equity and brand engagement are difficult to copy. They are strongly linked to your brand, and your brand alone. The depth of everything “surrounding” the product is complex, deep and interwoven with stories, emotions, associations, you name it…all those good things that make a brand unique!
3. The sizzle adds the emotional layer
Back to the restaurant example: Guess what? People will come back for more. Not just for the steak, but for the feeling they get when they are IN that experience. Human beings thrive on emotions, and seek repeat of pleasure.
Now, I’m not suggesting for one minute to only focus on the sizzle. Without that good, juicy, perfectly cut and excellently cooked filet mignon steak there is no reason to add sizzle in the first place! The sizzle is the icing on the cake; without cake there is no need for the icing.
Selling the sizzle and not the steak is something good marketers have known since forever. Give your customers the meal that they desire…and they will come back for it time and time again.
by Rolf Gutknecht, Agent of Change (c) 2012
I’m not sure about you, but in the deluge of emails that comes my way each and every day, it’s real easy start deleting them without even thinking about whether there’s content that might make my life and that of my clients easier and better. So, I stopped doing that about 
6 months ago and now take the time to open each one and at the very least scan for interesting info. Maybe I’ll see something about trends, or research data, facts, or a tidbit about helpful hints. Without doing so, I’d miss out on stuff I should know about and, respectfully said, that’s probably the case with you as well.
Well, with your indulgence, I wanted to share with you 10 pieces of information that you may not be aware of which in turn will help you grow your business by seizing on untapped revenue-producing opportunities. So, here goes:
As I said, it’s easy to delete a bunch of good information that comes your way because of time constraints, being short staffed or being overwhelmed with email after email. But this is all good information that I received and looked over before I hit the delete key. If you’ve read this far, you’ve made the same thoughtful decision as well.
by Rolf Gutknecht, Agent of Change (c) 2012
We grew up with the belief that the best idea always wins. The best person always wins. If you build a better mousetrap people will beat a path to your door. That might have been true when the world wasn’t inundated with one sales and marketing message after another. But the fact is, today the best idea does not win. The best idea does not get credit and the best product does not win if nobody pays attention in the first place. (Take 5 more seconds and reread that last sentence and let it wash over you.)
It doesn’t matter how great your blog is if nobody reads it. It doesn’t matter how creative your ad is if you don’t have money to run it. It doesn’t matter if you’re the best food manufacturer, if nobody buys your products. It doesn’t matter if you’re the best hospital if people in need go elsewhere. It’s not about being the best. It’s about finding a way that you can take who you are, what you make, and what you offer and create a relationship with prospects and current customers that is instantly captivating.
Think of it like this. Imagine that on the other side of the door from where you are is where relationships happen, loyalty happens, sales happen, profits happen. On the other side of the door, success awaits. But to get there, we have to get through the door. And before we do that, we have to knock. And if we can knock in a compelling, persuasive and interesting way and introduce ourselves, and if we provide people/customers with messaging and content that is instantly captivating, and if we knock in the right way, then the door opens and we get to go through to the side where all the good stuff lives. But to ignore the door that you have to go through is setting yourself up for failure.
The reason is that we live in a world with ADD due in large part to the addictive nature of the Internet. The average attention span used to be 5, 10, 15 minutes, but now, the average attention span today is roughly 9 seconds. Nine seconds! Your brand might only get 9 seconds to communicate a message, earn a little bit of loyalty, build a little bit of trust so you can continue the conversation before your customer starts getting distracted! Nine seconds isn’t a lot of time, so what could you possibly say in that time or less to get someone’s attention? I think it starts with presenting your message in a way that’s captivating in clever and unexpected ways. It grabs people’s attention and has them focusing on the message and not thinking about the other stuff that could come into their mind. They’re engaged…captivated. In doing so, you start connecting with them, which allow you to persuade them. Get them to trust you. Get them to believe you. Get them to want to connect with you. So when your competitor tries to pull them away, they stay loyal.
Having been in the advertising/marketing business for quite a number of years, working on Fortune 100 accounts and mom-and-pops, and everything in between, I’ve seen and learned a few things I want to pass along: As a company, you have a choice. You must either have an enormous budget to make sure no one in your category can compete with you OR you have to captivate people’s attention. With a big budget you can drive awareness through exposure over and over again to make sure you get your message out in front of your customer – even if you have a boring message. The other choice is if you don’t have the biggest budget (raise of hands please), in which case you have to have a captivating message so customers will pay attention, listen, remember and act upon it. What you can’t do is NOT have the biggest budget and NOT have a compelling, fascinating, attention-getting message at the same time. Then you fail and go out of business. That’s just the fact! My guess is that you could name a few companies in your business category that are no longer around because they were ho-hum..right?
Forgettable and boring marketing materials, tiresome page-turning ads or lackluster customer service will not get it done. People forget stuff in under 9 seconds if it’s anything less than captivating, enamoring or entrancing. Ask yourself why it is that you remember some ads or marketing messages. It’s not because they look or sound like every other company or ad or they use business babble that says nothing. Not a chance. You remember them because they had a strong, unexpected point of view and a distinctive message. They were captivating.
So, as you begin planning for 2013 and thinking about how to make it the best year yet, I’d ask that you reread the title of this blog and use it as the mantra for your future marketing initiatives. It’s that significant.
At my daughter’s college volleyball game this past weekend, I struck up a conversation with a guy who let it be known that he was the Director of Marketing for a company that owned a few hospitals. Knowing something about hospital marketing, I asked him about his competitor’s marketing activities and he then told me he thought one competitor was doing this and that another was doing something else…he thought. I asked him how sure he was about those things and he said “Honestly, that’s why I said ‘I think that’s what they’re doing’ because I really don’t know for sure.”
With more work to do with less people, budgets and services, along with not putting in place research that would tell them differently, it’s easy to see why lots of companies don’t really know how their competitors are marketing themselves and their products. One thing we all know for sure is that times have changed and, as a result, it’s more critical than ever to have competitive intelligence for the benefit of the company’s future…as well as not having your boss say “What do you think about the new ad for ABC Widget?” and you haven’t a clue. It’s just not a good place to be…I know.
So what can a budget-challenged marketing professional do to track the competition without taxing already limited resources?
Let’s start with a few basics: Know who all your competitors are–not just the obvious ones, but the ones flying under the radar as well. Simply put, competitors can be direct (those offering nearly identical goods or services as you do) or indirect (those offering different types of products that answer the same needs). Staples and Office Depot are direct competitors; Sam’s Club is an indirect competitor.
From that point on, it’s about keeping your ears and eyes open. Again, while it seems oh so obvious, when was the last time you looked at a trade magazine or business journal or dug around online to see who’s saying what to your customer or prospective customer? What did the competitor’s ad say; the trade show booth look like; how did their packaging show on the shelves; or what did their last promotion look like? And let’s not forget about all their online initiatives.
On that note, here are some things I do to get intelligence on “the other guys”. An easy place to start is with Google Alerts. Plug in the name of the competitor or associated products and let Google send you daily messages whenever related content appears online.
Then there are the websites. Ask yourself when the last time you visited a competitor’s website and what did you see? For example did you notice things like the kind of content and the different formats used; any social media networks they are part of; what media coverage they received and the different topics they issued in their press releases?. What about looking at their content, which will give you an idea of what they’re trying to rank for. And here’s one for you: how many different websites do your competitors have? It’s quite possible that maybe some of your competitors have more than one website. Time to look for them.
You can also check out the social media profiles of your competitors on Facebook, LinkedIn, Twitter, etc. or use a social media search engine such as SocialMention.com to see the kind of content they post and who they follow and who follows them. It can also reveal what others are saying about your competition, good and bad. And then there are corporate blogs. Studying the blogs by your competitors, if they have any, can help you know what kind of topics and categories they cover because it will help you ensure that your blog follows a different and better messaging strategy.
For those that are saying “yeah, yeah, yeah, what else?”, well, a backlink analysis of your competitors’ sites will give you a basic idea of where they are getting their links from. For this you can use sites like Open Site Explorer. They show up to 1,000 backlinks for free and even more if you use their paid version. Backlink analysis often brings up sites where your competitors might be advertising and those links give you information on some of these popular sites (they did some research – gain from their knowledge).
Did you know about a little known tool from Google called Double Click Ad Planner? It’s for finding out detailed demographic information about your competitors’ customers. As well as giving you reliable figures on how many visitors your competitors’ websites get, you can also find out the age of their customers, income, gender, education level and more. And while we’re on the subject of Google, if Google’s the one ranking your business against your peers, then it makes sense to understand who Google thinks you’re similar to, right? Here’s food for thought: type in your own URL in the searchbar and see what comes up. You may be surprised.
So, am I trying to intimidate you by showing you just how much competition there is out there today? Nope. But it’s important that you’re aware of it so that as you monitor competitors’ actions, you’re looking at the right sites and in the right direction. Because times have changed and your competitors are no longer just the names you’ve always known. Your competition is anyone who gets themselves in front of YOUR customer’s line of sight. Frances Bacon’s quote “Knowledge is King” couldn’t be more right on.