Death and taxes are two big guarantees in life, and if you’re running a business, then sturdy competition is another one of these certainties.
Managing your brand is a constant balance between being the best possible version of yourself (or your business) while also ensuring you keep up to date on what the businesses around you are getting up to. The last thing you want is to fall behind on how they’re promoting their products and services and appealing to customers. After all, competition is the fourth biggest cause of business failure for businesses.
Beating out the competition these days is about way, way more than just charging less than them. Thanks to the internet and therefore the wealth of choices that consumers these days have, more than ever, brands have had to get savvy about the way that they compete in the open marketplace. It’s no longer just about who charges the least, but instead, consumers are now concerned with corporate values, branding and most especially, customer care. Provide value and an unrivalled customer experience, and you’re a shoo-in for the cash when it comes time to purchase.
So how (and what) can you learn from a competitor’s digital marketing efforts?