We live in the era of digitization, so businesses that learn to play by the new rules occupy the top positions in terms of the number of clients and revenue. In an overloaded information space, the main task of digital marketing is to convey to the consumer the value of the product and make the interaction personalized and productive. How do you occupy a leadership position using digital marketing?
The Steps to Occupying a Market Leadership Position
This allows entrepreneurs to reach customers locally, nationally, and internationally, reach new markets and attract more people potentially interested in their product. Moreover, the entry threshold for digital marketing is many times lower than for traditional marketing. In this article, we will consider primary marketing steps which will help to solve business tasks of digital marketing more effectively.
Segment Your Target Audience
Nowadays, given the great competition and abundance of offers, customers are very spoiled and have deeper needs, so you have to segment the market and understand how to communicate with people more effectively. It is important to determine by what criteria it is most profitable for your business to segment the customer base.
The classic criterion is the socio-demographic, which provides the following parameters: gender, age, what generation the person belongs to, his role in the household, religious beliefs, field of activity, income level. You can find your audience using Google Analytics.
Do not ignore the geographical segmentation, based on the region a person or company may have its own needs. Consider climate, number of people, level of development: the capital, million-plus cities, district centers, villages.
Use psycho geographic segmentation, aimed at deep motivation, which can only be explored through polls and in-depth interviews. This allows you to understand your clients’ motivation to buy, their values and attitudes towards life, how they make decisions, and their reactions to innovations.
Consider behavioral factors, how people behave in the context of your product: what reason to buy, what the main benefits they get, how often they use the product. This way you will form a collective image of your target audience to better understand their behavioral psychology and build productive relationships.
Conduct a Competitor Analysis
It is important to analyze your direct competitors: the leaders in your industry and those who appeared in the market not so long but are actively developing. You can see the strong promotional tactics allowing them to develop rapidly. In case, in your niche there are no examples of good marketing, you can monitor indirect competitors or foreign companies.
An effective way to find out about your competitors is to ask your customers: with whom else they compare your company, what products in addition to yours they consider, what conditions offer to them your competitors. For finding competitors, use search engine results for key queries. Recently, the block of recommendations on Instagram has become relevant. You can go to your competitor’s page and see recommendations on similar topics.
When analyzing competitors, pay attention to their positioning: company slogans, headlines on the website, description of the company’s products, research the product line. Subscribe to your competitors’ mailing and see what special offers they send and when. Using special services, analyze their social media networks: find out the most popular content topics, which posts have the most involvement, which advertising tools they use, how often they buy Instagram followers and other popularity metrics, how much they invest in promotion, etc.
As a result, conduct competitive intelligence periodically because competitors give hints on where and how to develop further. Comparing the conditions, get to know where you are stronger in terms of the product and where you are inferior to build more effective marketing, emphasize and highlight your strengths.
Use Correct Positioning and USP
Positioning is the formation of a certain image in the minds of your consumers about your brand. Use Unique Selling Proposition (USP) in your business as advertising communication should be based on specific product benefits for specific target audience segments and not on emotional phrases. There are several mechanics for creating a selling offer.
Focus on the uniqueness of your product. Perhaps you have an author’s methodology for solving a particular problem or various exclusive handmade products. The problem of the modern world is that unique things do not remain so for long, because imitators and competitors immediately appear and copy them. So, you should not focus on uniqueness alone.
You can choose a narrow niche, a particular segment of the target audience, and work exclusively with them. This is a strong vector that can strengthen your positioning and people will perceive you as an expert knowing his topic.
Sometimes a product warranty is a good argument. In social networks, trust plays an important role in decision-making. That’s why people post testimonials, successful customer cases, buy real Instagram followers, likes, comments, etc. This way you can form social proof, increase the value of your product, ignite customers’ desire to buy, and remove definite fears.
When your company occupies a leadership position in a certain niche, you can use this fact as an advantage. High status can be confirmed by various awards or research. As a result, your proposal should be specific, convey the benefits to a specific segment of the target audience, and provide evidence.
Occupying a Leadership Position
To sum up, digital marketing has huge potential for achieving ambitious business goals. To successfully promote, you should implement a set of measures: define the core of your target audience, divide it into segments, make a USP for each segment, monitor the actions of successful competitors, and constantly reinforce the strategy with new tactics. If you do it regularly, then the number of customers will steadily grow, and your business will scale to occupy a leadership position.