According to Screwpile Communications, 78% of salespeople using social media perform better than their peers. In fact, IBM boosted its sales by 400% after implementing a social selling program. It only proves why social media is a huge factor in having a competitive advantage and improving your digital marketing.
Having a competitive advantage is crucial in any industry. In digital marketing, having an edge can be difficult because of the wealth of knowledge available on the subject. However, there are many ways to find your unique selling point and give you that competitive advantage to help you succeed.
How does one find a competitive advantage with so many different channels for reaching customers? The answer is in understanding your customers’ needs and wants. This blog post will discuss how you can find a competitive advantage by understanding your customer’s needs better than anyone else does.
Finding Competitive Advantage in Digital Marketing
We are in an era where the internet is heavily saturated with marketers. Though this may seem bad news, it can be a boon to your business! The key to finding a competitive advantage in digital marketing is knowing what to do and when. Here are some ways to have a competitive advantage in this field:
1. Know Your Customer
The first step to understanding your customer is to know who they are. It may seem daunting, but you can easily accomplish this through market research. Once you have identified your target customer, you need to understand their needs and wants. Ask yourself these questions:
- What are they looking for on the internet?
- What are their pain points?
- What are their interests?
By understanding your customer, you can create a strategy that meets the needs of your target audience.
2. Identify Your Competition
It is essential to know who your competition is and what they are doing. It will help you determine what strategies you need to implement to stay ahead of the curve.
Some questions you can ask yourself include:
- What keywords are they targeting?
- What kind of content are they producing?
- How are they interacting with their audience?
This information will help you determine the best way to position your company online.
3. Create a Unique Selling Proposition
Your unique selling proposition (USP) is what makes your company stand out from the competition. It is what sets you apart and makes you irresistible to customers.
Some ways to create a USP include:
- Offering a unique product or service
- Having a lower price point
- Providing better customer service
- Creating more engaging content
Your USP is what will convince customers to choose you over the competition.
4. Develop a Content Strategy
Content is king. Regardless of your digital marketing strategy, you will not see the desired results if it is not backed by consistent and high-quality content. High-quality content establishes trust with customers and shows them exactly what they can expect from your business.
By creating an ongoing content stream, you can keep your customers engaged and attract new ones.
5. Utilize Paid Advertising
Paid advertising is an effective way to utilize your unique selling proposition and content strategy. By using paid ads, you can attract new customers you otherwise might not have been able to reach. This digital marketing method can create a domino effect for any business by magnifying exposure through targeted users.
6. Maintain Consistent Communication
Digital marketing is a 24/hr job. Customers can reach you at any time and expect an immediate response. The key to maintaining consistent communication with customers is utilizing all of your digital channels (social media, email, etc.).
By staying in touch with customers via the appropriate channel(s), they will see you as a reliable business willing to go the extra mile.
7. Go social
Social media is one of the most effective tools in a digital marketer’s toolkit. Not only does it allow you to communicate with customers, but it also allows you to get insights into what they are thinking.
Additionally, social media can drive traffic back to your website or blog. You can create a strong relationship with your customers by utilizing social media correctly and keeping them coming back for more.
These steps should help you find your competitive advantage in digital marketing and increase awareness of your business through compelling content strategies, paid advertising campaigns, and consistent communication with customers.
As long as you know what your customer wants/needs and stay ahead of the curve by utilizing new trends (e.g., chatbots, video marketing), you will be well on your way to success.
Benefits of Having Competitive Advantage in Digital Marketing
1. Increased visibility for your business
Digital marketing is a great way to increase the visibility of your business. By utilizing various channels (social media, email, paid advertising, etc.), you can reach more customers and expose them to what your business has to offer.
2. More leads
More customers mean more leads. By reaching a wider audience and increasing your business’s visibility, you will have an easier time attracting new customers looking for the products or services your company offers.
3. More conversions
Once you have attracted new customers, it is essential to convert them into paying customers. By developing a solid content strategy and utilizing paid advertising, you can increase a customer’s chances to become a paying customer.
4. Increased customer loyalty
Happy customers are more likely to be loyal customers. By providing high-quality content, delivering excellent customer service, and staying in touch with customers via various digital channels, you can increase the chances of becoming loyal to your business.
Digital marketing is a great tool that can help your business in many ways. Find out what your customer wants and stay ahead of the curve with new trends to make sure you find a compelling competitive advantage for your company. To get started, book a call with me on my calendly: https://calendly.com/jayant-eproxim/linkedin.