Creating a Strategy to Outsmart Your Competition
When it comes to marketing and advertising, you can't forget that your competition exists. Not only do you want to spread your brand message and gain attention from potential customers, but you also want to outsmart your competition.
Otherwise, they might outsmart you.
If you're developing a marketing campaign, use these strategies to keep your competition where it belongs.
Identify Your Value Proposition
What can you do better than anyone else in your industry?
That's an essential question to answer if you want to leave your competition in the dust. Instead of simply stating what you do or offer, let prospective customers know why you're different.
A value proposition should have one defining factor: specificity. Don’t just offer generalized phrases like “best in class” or “devoted to customer satisfaction.” Focus on identifying a value proposition that includes a unique selling point.
For instance, a clothing retailer could use one of the following as a unique value proposition:
- Guaranteed correct fit
- Free shipping on all online orders
- Extended return policy
- In-store stylists
Just make sure you can deliver on any promise you make. A value proposition that your customers can't trust will quickly tarnish your reputation.
Align Your Brand Messaging
When creating ad copy, pay specific attention to the landing page, and vice versa. You want the copy to offer similar information and promises.
For instance, if your ad copy talks about free shipping on all orders, you must mention free shipping on your landing page. In fact, you can make it your main strategic point.
Additionally, think about the user experience. What terms do your customers use when they search online? Maybe a specific brand name appears in search terms for your retail store. Use it in your landing page copy to show customers that you care about their needs.
Focus on Targeted Competitor Keywords
It's true that bidding on competitors' keywords can help draw traffic away from those businesses and toward your own. However, if you're paying too much in CPC and receiving too little in ROI, you'll do your brand a disservice.
Instead of randomly choosing competitor keywords, look for search terms that suggest customer dissatisfaction. For instance, if consumers often search for your competitor's name and words like "scam," "fraud," "poor quality," or "bad customer service," you might benefit from bidding on those terms.
This is because the searcher has already reached a certain level of dissatisfaction. Therefore, he or she is actively looking for an alternative, and your ad can jump in and save the day.
Use Remarketing Lists
Repetition is the key to advertising success. When your potential customers see your ads more than once, they pay attention. Recognition sets in, so they're drawn to the ad.
You can cut marketing costs significantly with RSLAs, and you'll prioritize customers who have already interacted with your brand. Additionally, if a prospect has expressed interest in your product or service, the chances of conversion increase with remarketing.
Your competition is already gunning for your potential customers. If you act on the tips above, you can outsmart them before they can poach your prospects. If you're interested in learning more about how to have a succesful marketing campaign, you can read our case study: Paid Search and Shopping Collaboration Results in Online Revenue Increase for Barneys.com.
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