Every business has its own strengths and weaknesses, which is why closely watching your competition isn’t always necessary or a good use of your time. If you’ve noticed your competitors popping up more frequently online and off, however, chances are you could learn a thing or two from them regarding brand awareness.
1. Impressions Matter
Getting in front of your ideal customer once and hoping for a call is not realistic today. It’s a busy, busy world—online and off—so impressions are crucial.
The term “impression” might sound familiar. It is often discussed along with the term “reach,” though impressions and reach are not the same things. Reach refers to the number of unique people that see content you’ve shared, whereas impressions refer to the number of times each person sees a single piece of content. For example, your latest blog post could reach 100 people after being shared on one of your social media pages. Of those 100 people, one person could see the same piece of content five times, which means they would have five impressions.
The perfect number of impressions has been a long-debated topic. There are a number of studies that claim someone needs to see an ad seven or more times before they take action, while others state upwards of twenty impressions are necessary. While the exact numbers are debatable, what we know for sure is that you cannot rely on a single view on any one platform to carry all of your brand presence.
What You Can Do: A diversified and regular presence is crucial. Your audience is all over town and all over the internet, so meet them where they are. Make sure you have monitored and managed accounts for the major platforms that make sense for your business and that you are actively sharing content and engaging with your audience. Pay-per-click campaigns can help you increase your reach and number of impressions on various platforms as well.
2. You Might Have to Think Outside the Box
Have you noticed competitors in town showing up in new places? Perhaps they’re showing up on platforms you haven’t considered. It could be worth looking into new platforms and taking a second look at social media platforms and marketing strategies you once thought didn’t apply to you or your industry.
What You Can Do: There are a million ways to market your business nowadays. Get creative! Customers value high-quality content just as much as services performed when they’re needed. Staying front of mind doesn’t always mean asking for the sale. Offer content of value and you’ll always have a reason to stay in front of your ideal customer.
3. What Works for Them Might Not Work for You (and Vice Versa)
When looking at your competitors, it’s important to remember that what works for them might not work for you and what works for you might not work for them. Research strategically and establish a clear vision about your business’s priorities and goals so that you can better determine which strategies make sense for you.
What You Can Do: Considering a new platform or trying a new strategy doesn’t mean you have to invest a lot of money upfront. Make sure you know what you want to achieve, who you want to target, and what you want to get out of your ads to set up some tests so you can assess your return. Working with a web company familiar with various areas of marketing can help you stay a step ahead of the competition.
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