18
Oct

5 tools to measure competitive marketing

written by Scott Olson

Marketing when done well always has a healthy dose of analytics and feedback. Understanding the impact of your marketing efforts is critical in determining where to allocate your budget and time. One area that can be particularly illuminating to both your management team and board is around competitive marketing. Understanding how you are doing relative to your competition can provide valuable feedback on your own and your competitor’s progress.

Here are six tools I like to use to gauge how companies are doing relative to competition with their marketing initiatives:

  • Compete – One of the best sites for measuring competitive marketing is at compete.com. They started as a site that allowed you to analyze website traffic across multiple sites, but have evolved into much more. They provide tools to help you measure search analytics, referrals, keyword analytics, and a wealth of marketing tools. This is definitely one of the most useful competitive marketing analysis sites I have found.
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Relationships are the currency of the modern economy. Wow! When I read this in the article, “What’s the ROI of a Business Relationship?” it really got me thinking about how companies market themselves, and how business is really all about relationships.

Today’s warp-speed business environment seldom allows any time for B2B companies to really get to know their customers beyond the mutual interest of doing business. The daily pressures of sales and hitting our quarterly numbers keep us at such a rapid pace that we really don’t get to know our customers the way we should — as people. Sure we’ve been to their offices and we understand their business issues, but how well do we really know them?

The new book, It’s Not Just Who You Know by Tommy Spaulding explores the importance of business relationships in what he refers to as Return on Relationships (ROR). It’s an engaging concept, to say the least. (more…)

Businesses are built around simple, straightforward ideas that are supported by compelling value propositions. Unfortunately, the original vision often gets lost or loses sight of why they got into business in the first place.

As marketers, we’re always trying to keep it simple. We know that if the message gets too convoluted, it can impact how the industry perceives your brand, not to mention the success of your campaigns.

I once worked for a niche company that did a few things great. As a result, they quickly earned a stellar reputation within the industry. Their clients trusted them so much that they begin asking if the company would take on additional services that were outside the scope of their core offerings. To make their customers happy, the company invested in the resources and began offering the new services to other customers. Over time, however, they couldn’t deliver on the expectations for the additional services. As a result, they began to lose the trust they initially earned with their clients. Then they realized, instead of being a jack-of-all-traits, they needed to reel things back in and rescaled their service offerings. They got back to what they did best.

The moral of the story is to focus on what you do best. (more…)

I was out shopping the other day and I came across this car in the parking lot. A Hummer Hybrid in it’s full ecologically conscious glory. As a marketer, I think there is no greater crime than marketing your products to an audience who doesn’t want them.

In this case, Hummer built their product for the wrong group and failed to understand their brand. The Hummer brand is built on gas guzzling excess. Trying to suddenly change directions and market to energy conserving, environmentally conscious groups was bound to fail.

This is an extreme example, but could you be doing the same thing? See if any of this sounds familiar:

  • Do you send emails to your sales database without segmentation?
  • Do build features to meet new market needs instead of prioritizing the needs of your true fans?
  • Do you build a generic website that doesn’t speak to the specific needs of your primary audience?

Take the time to understand your value and your audience. Lots of companies say they are applicable to a broad horizontal market, but often this is evidence of the company not wanting to take the time and make the hard choices to decide who they really are selling to.

It’s better to delight a smaller group and grow from there then try to please everyone. That is a sure path to failure.

As marketers we’re always focused on the message. What do we want to say? How can we make it more engaging? While we are constantly tweaking the message, how often are we communicating these ongoing changes to the sales team? Weekly? Monthly? Quarterly? Dare I say…

Aside from your marketing campaigns, your sales force is the front line of your company. They are out in the field talking to your customers and prospects, following up on the leads you’ve provided them. Because of this, it’s critical that both sales and marketing are on the same page. If there’s a disconnect in what each party is saying to customers it can impact the success of your campaigns and the ability to close sales. (more…)

A while back I detailed how I was recording and transcribing interviews using RecordiaPro and Mechanical Turk and it turned out to be one of my most popular posts. It is still searched on quite a bit as transcribing audio files is a problem that many people are looking to solve. Speechpad may change the way I do things.

Speechpad is a new service I am trying out that I came across on the Mixergy site, another great resource for startups. The Speechpad website is straight forward and simple. As you can see from the image I captured off their website above, they offer three different services; uploading a file, recording a call, and phoning in a note. Here are my thoughts on these services: (more…)

It’s strange to think that a little over a decade ago the success of our marketing programs was largely dependent on the size of our budgets. Today, the power of social media has changed all that.

For startups, social media levels the playing field. Your marketing efforts are no longer held hostage to budgets that only cover a third of your marketing plans. With effective, low-cost social media tools now at your fingertips, the only thing holding you back from creating industry buzz and connecting with your customers is you.
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17
Sep

See you at Wordcamp Portland

written by Scott Olson

I’m looking forward to the WordPress event this weekend, Wordcamp Portland. If you’re going to be there, be sure to look me up.

We’d all like to be recognized by our peers as thought leaders, someone who promotes innovative ideas to help others and move our respective industries forward. Building a reputation as a thought leader within your industry is not easy. In fact, it’s an ongoing process that starts with you and continually evolves through industry perception. This can be especially challenging for startups staring into a blank marketing canvass and asking themselves, “Where do I begin?”

The key to turning on the thought leadership engine is by focusing on your company’s strengths, experiences and differentiators, and delivering something of value to your audience. When developing content for a thought leadership program, there are a few things you need to consider, including:

  • Industry expertise. Having a deep understanding of your sector is the first criteria for thought leadership. Since startups are formed by individuals with vast knowledge and experience in a particular field, this is something you should focus on to demonstrate your expertise and start building confidence with your audience.
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Creating a website is one of the first startup marketing tasks. Your website is an essential element in your early sales calls and serves as a company resume of sorts. Many people get too caught up in the design elements of a website but overlook the critical content that must be present to generate interest in your product and to encourage prospects to find out more.

If you are designing a new website, be sure that your final site can answer these five key questions to visitors:

  • What do you offer? – Don’t be cute. It is essential that you plan your content strategy to clearly identify what it is you offer to customers. This is important for search marketing as well as ensuring that people that do find their way to your website stay and find out more. Use industry accepted terms for both the category your product is in and the customer problem you address.
  • (more…)

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