Standing Out in a Competitive Marketplace
By: Steven Brittain, Director of Publishing at MultiView
At MultiView, we like to proudly point out that we’re the B2B marketing choice for more than 40,000 companies across a wide spectrum of industries. When you’re having conversations with this many individuals who are trying to grow their market share, it’s easy to spot the questions that come up again and again.
Perhaps the most common challenge our customers face is figuring out how to make their businesses stand out from their competition. When you have numerous other companies in your space who provide the same products or services that you do, you need create a marketing strategy that diverges from what everyone is doing.
To put it in simple terms, if you want to transform your business in today’s hyper competitive marketplace, a good place to start is with your marketing.
Here are three areas of differentiation that will help you stand out from your competitors and grab the attention of new prospective customers.
Target your audience as effectively as possible
When you set off on your journey to ramp up your new marketing strategy, your first instinct may be to cast as wide of a net as possible. Obviously, by appealing to the greatest number of people you’ll have the most success, right? Wrong.
B2B marketers need to understand that their customers and prospects are looking for somebody with a very specific set of skills who can help them solve their particular business problems. By utilizing audience targeting technology, you locate your ideal niche audience and serve them targeted marketing communications no matter where or when they roam online.
If you need help getting started on creating a custom targeted campaign for your market, you should take a look at our recently published eBook: “Audience Targeting Techniques for B2B Marketers.”
Audience targeting works by mining qualitative and quantitative data on users online habits, and then serving targeted messaging to a highly select audience. Through displaying messages tailored to this particular audience, marketers can gradually influence them over time into becoming customers.
Utilize content marketing to showcase your expertise
There’s a popular refrain going around marketing circles these days: Content is king. Businesses who are looking to stand out from the pack are recognizing the powerful impact that content marketing efforts have in today’s marketplace.
The Content Marketing Institute defines content marketing as a strategy focused on creating and distributing content to attract and retain a clearly defined audience – with the objective of driving profitable customer action. This can be accomplished through blog posts, social media interaction, email newsletters, white papers, research articles and eBooks.
The most powerful aspect of content marketing is that it allows you to position your business as the “experts” in your field. By publishing material that shares your advanced insights and looks to help people solve problems unique to your industry, you become a trusted and valued voice of reason.
You are able to establish a relationship with your customers (both current and prospective) that is outside of the bounds of the usual customer/vendor construct. When done correctly, producing high-quality content can both drive engagement and build brand awareness for your company.
Keep in contact with prospects
In order to build lasting relationships with your new prospective clients, you need to stay in contact with them. Now this doesn’t mean you need to find a way to set up a weekly conference call. It means that you need to be to reaching out to these folks through email.
Despite all the buzz surrounding social media, email continues to be the most effective channel for delivering your marketing messages.
In a research article titled “Why marketers should keep sending you e-mails”, the global consulting firm McKinsey & Company took a deep-dive into the world of email marketing and why it continues to be so effective.
“E-mail remains a significantly more effective way to acquire customers than social media—nearly 40 times that of Facebook and Twitter combined,” the report states. “That’s because 91 percent of all U.S. consumers still use e-mail daily, and the rate at which e-mails prompt purchases is not only estimated to be at least three times that of social media, but the average order value is also 17 percent higher.”
A well-designed email newsletter can benefit your business in numerous ways, including:
- Increasing the strength of your brand by associating it with current, relevant content
- Generating warm leads by keeping your company in front of your audience
- Boosting brand value by providing a non-solicitation service to your customers
- Providing you with regular market feedback through custom surveys
- Naturally boosting your SEO with a continually updated archive page of relevant content
If you’re interested in developing a custom email newsletter for your business, you can get started here.