Learn five ways how you can achieve a marketing edge over competitors and win with marketing. Refine your strategy to enable yourself to reach growth.
Every company and team should strive to gain a marketing edge with its marketing strategies every time, and there are ways to make sure that you’re at least trying to achieve the edge you need.
This article will discover five methods that help you win with marketing more consistently. Whether your business is in a highly competitive industry or to make sure you can achieve further growth faster than the traditional methods would enable you.
In a nutshell, if you want to win with marketing, analyze how your business implements the following ideas in the marketing strategies you use every day:
- Targeted Audiences
- Finding scale
- Growth Mentality
Marketing Edge Through Experimentation
Experimentation is key in marketing. Every decision we make in marketing should come from the experiments we do.
And it entails all types of decisions. Whether that’s choosing the right marketing strategies or marketing channels, nothing is for certain until we can make sure whether it works for our business or not.
Experimentation creates a marketing edge through the power of discovering unique marketing methods, which our businesses can do effectively.
While following influencers and your competitors can show you a starting point where to start planning your marketing, using others’ strategies can only get you so far.
We have to make vital marketing decisions that enable us to create marketing experimentations at scale in our businesses. If we don’t plan the use of experiments, we will never truly explore and find new ways to market our products.
When we always experiment, we will uncover new strategies that our competitors will have missed before using them to scale our business.
But the core here is never to stop experimenting because when you discover a winning strategy, your competitors will find it out eventually and start using it themselves.
You always want to be ahead with your marketing efforts to increase the chances of winning.
Targeted Audiences Helps You Win With Marketing
The audiences we target will have characteristics that only benefit our business. The journey of finding a business’s core audience that will make 80% of all your future sales is hard but achievable.
And real marketing edge comes through understanding your target audiences’ needs to the best of your abilities.
While we may think that competing companies will have the same audiences, that’s’ not always the case.
These differences can be subtle and harder to recognize, but there’s always a reason why an audience chooses to engage with a business or not. And these differences create the marketing edge we are after.
After all, if our business with its products can discover its top audience that produces the most results, we can create and develop marketing strategies that are hard to duplicate and utilize them to the fullest.
Therefore, it’s vital to understand everything you possibly can from the audiences that engage with your business. Not only sales but from interested audiences as well.
You can either discover the best audiences through digital marketing and the data and targeting options it offers, or research your customers deeply and directly to create buyer personas based on reality.
Targeted audiences are a journey by itself. Every time we start a marketing campaign for a new product, we are always guessing whether the audience will react to it the way we want them.
In time, we learn more and more about why a said audience engages with us. And that enables us to win more consistently in marketing.
Analytics Gives Marketing Edge To Businesses
What do experimentation and targeted audiences have in common? Data and its analysis. The analytics process realizes the marketing edge we seek into fruition and actionable marketing ideas and strategies.
Every marketing strategy should include using data to improve its results, whether the results are old or new.
Companies with robust ways to include analytics to create data-driven marketing decisions will discover the specific marketing edge that makes them different from their competitors.
If you’re an online business, all you need to do is get web analytics set up and running for the data collection, and you will have insightful data for marketing in a matter of hours and days. You can always learn more about metrics that matter in your business as time goes on through a deeper look.
But every type of business will have unique datasets that make them different from their competitors. It’s about finding the metrics that matter to our goals.
The key to analytics in marketing is always to use the data to drive marketing intuition and the decisions we create.
Only through analytics can we see in reality whether something works or doesn’t and enables us to react fast to change in parameters.
And as marketing principles helps us create more efficient, sustainable, and successful businesses, analytics shows us the impact of marketing on our business.
Scale, Scale, Scale Until You Can’t
If we find and create a scalable marketing strategy that profitably produces the results we want, we will gain a marketing edge.
Opportunities we discover that can scale increases competitiveness against our competitors. Sometimes we are the first ones to use a new marketing method within an industry or marketplace, and if we can scale it faster than our competitors, we will reap the rewards of it.
A crucial thing to note about the scalable marketing methods is that sometimes they are not new. That is why experimentation is essential when discovering scalable methods your business can use.
And naturally, as your new marketing method scale, the chances of your competitors also getting on the method will eventually drive the cost of marketing up, rendering your marketing opportunity worthless for now.
For example, you found success with Google Ads or Facebook Ads. You start scaling their use in your strategy. It’s highly likely that your competitor will discover how you’re achieving the results, even if it’s not 100% accurate for them, it can impact your results massively even if they’re not successful right away.
While we may lack the details when competing, we can never be sure whether a marketing method for someone is working profitably for them, even though they are scaling its use.
That is also why we need to rely on our data and experimentation to ensure that we scale a method we are sure that works in our case.
So, the core idea is to take advantage of every marketing opportunity you get, scale it until it doesn’t produce the results you want, and then move on to the next opportunity.
Through scaling until you can’t: you always explore every opportunity you get while maintaining a marketing edge.
Growth Mentality As A Marketing Edge
If we want to want to gain a marketing edge, we need to distill a growth mentality into our strategies from day one.
And what is a growth mentality in marketing?
Say we follow a goal and achieve it with methods available to us, and when we reach the goal, we move to the next one.
It’s easy to start stagnating and not requiring more results from our strategies when we get comfortable yet profitable results. Eventually, the methods that produce growth today will lose the impact they produce, ending our marketing edge we worked hard to get.
To stop stagnation, what can we do?
With the help of growth hacking, the goal is always growth, no matter what metric we are trying to grow. Instilling that mindset into our broader marketing strategies enables us still to deliver growth and move on faster when we don’t get the results we seek.
It helps us spot stagnation early, whether that’s a lower performance in results or the lack of wanting to grow.
While as a mentality, it is a more abstract concept, but still a crucial part when we want to achieve and win with marketing.
These were the five ways you can achieve a marketing edge and keep it in the strategies you use today and tomorrow.
It’s vital to have each of these elements present in the marketing efforts you do. When creating your marketing plans, consciously try to tackle each step and look for methods that enable you to always stay on top of competitors efficiently.
And if you find yourself on top already, remember to check whether you have the listed elements present in your current marketing strategies and always discover improvements you could make.
For someone starting with a small budget, we could argue that gaining a marketing edge is essential, as you can’t achieve growth through paid channels as your competitors can, and you can’t afford mistakes or too many experiments in the beginning.
No matter the company’s stage, creating a unique and scalable strategy that fits your business is a goal, we all should want to achieve.