18 Apr Competition in the Digital Marketing Landscape
Take a minute to think about your competition. Maybe it’s the sandwich shop up the block. Maybe it’s the school across town. Perhaps it’s even the bike store on the south side of town who seems to undersell you at every turn. Here’s the issue, though: the companies who are your direct competitors aren’t your only competition. In digital marketing, almost anything and everything can end up being your competition.
Your direct competition is still online competition.
You aren’t mistaken to assume that your typical, direct competition is still your online competition. If your direct competition is online, then you’ve got a digital marketing competitor. It’s important to be aware of this competition and to monitor it. You don’t want to steal their tactics, but you need to be ready to respond to their tactics. You’ll want to develop a digital marketing strategy that keeps you ahead of the game, not behind.
Your indirect competition is online competition.
The digital marketing landscape levels the playing field. Your competition is no longer local or isolated by region. Instead, you’re suddenly competing with businesses halfway around the world and across the country. Everyone has the opportunity online. That’s one of the amazing things about digital marketing. It’s also the downfall of most businesses. Failing to recognize that every business that offers similar services or products as competition, when it comes to digital marketing, can result in a negative impact for your bottom line. Instead, you need to understand and build a digital marketing strategy that is robust and accounts for all of the new competition.
You’re now competing with every communication and message online.
Being online is great, but it comes with challenges. Instead of competing for billboard space or even air time on TV, you’re competing for page space. Google, Facebook, and everywhere else your target market spends time online is full of advertisements. Sometimes, these ads might be for your competition. They might be for your business. And, they might be for something completely unrelated. The point is, you’re now competing for attention. Your digital marketing strategy has to account for this. It has to be setup to include how you’re going to compensate for all of the noise. How are you going to break through it all?
Digital marketing is all about creating a message that your target market will connect with and making sure it is served to them. Sure, some of your audience will seek you out. Others, you’ll have to seek out. Your strategy should involve being where they are when they are. Doing this will help you build your brand’s perception and reach.
Are you ready to get started with a killer digital marketing strategy? The team at Iconic Digital can help you build a strategy and create the collateral you’ll need to win over your audience.
What are you waiting for? Let’s talk.