Not everyone is great at marketing and promotions. But, if you have a business, you have to figure out some way to get your brand out there. There are countless different ways to do this, but by using information in a positive way, you can get great results. With a little bit of creativity and observation about what industry leaders are doing, you can begin your new marketing and promotion goals immediately.
As far as information goes, how can you leverage knowledge and wisdom to your advantage?
First of all, you can recognize your competition, and you can recognize competitive markets in general. Having an overview of competition in your area or cyberspace is a big deal. You can use the Blue Ocean strategy for figuring out how to promote and market yourself as well. This strategy involves figuring out what other companies do the best, and then you position yourself to do the exact opposite. This gives you a pocket of opportunities to compete for a different target audience.
And lastly, make sure that you use social media to your full advantage. By understanding social media use for business, you’re at least giving yourself an even playing field when it comes to competing against companies that have a broader reach or more history than you.
Recognizing Competitive Markets
How competitive is the market or industry that you are currently in? If you’ve already found a small business niche, then you should recognize that your success is dependent on a small but loyal community. But what if you are trying to advertise dentistry or promote another general industry that is in high demand and has high visibility, but also has lots of competition? That’s when you need to start getting creative. Find a way to increase the value of your brand by first recognizing where the competition is most fierce, and then prioritizing resources that you have most effectively.
Using the Blue Ocean Strategy
Sometimes it can seem like a particular business plateau is insurmountable. In those cases, probably just struggling with developing an appropriate marketing scheme in general. If you use the Blue Ocean strategy to seek out pockets of opportunity, you may quickly realize that you have been putting your energy into the wrong area.
If a competitor is pushing for low cost and low quality, your opportunity is to promote high-cost and high quality. If you mirror what your most successful competition is doing, but on the opposite side of their spectrum, you’ll find that marketing and promotions are much more manageable.
Leveraging Social Media
Finally, as far as peddling information goes, make sure that you leverage social media for your business purposes. If you have something that you can share that contains valuable information for potential customers, you should give freely. This does not mean you should use your brand to judge other people’s posts or get involved in conflict online. Instead, when you use social media as a business entity, you should showcase yourself as an information source that is open about sharing valuable information for free, thereby gaining trust in the process.
