For small business it can sometimes be difficult to find the
time and dedication to advertise your products online and offline. People can sometimes have a hard time
understanding how a product can ultimately solve their needs. With proper guide to competitive analysis,
your consumers can be convinced that they need your product more than anything
else.
Building business structure
Introduce your products/services to your target audience
with clear and direct message, describe how your products and services can
overcome the challenge they are facing. Include relevant details how effective
your products and services are; make sure to outline the problem and resolution,
giving the client the idea that your service is using real time solution to
solve their real life problems.
Your business website delivers your marketing campaign
With the high technology today there is no way to avoid
making a business website for your company that may serve as your marketing
campaign. With proper contents, description of products and nevertheless a
viewer friendly website could increase your business visibility and gain you
more customers in the long run.
Business website should include the following:
- · Own Domain name
- · Creative template design
- · Your business name, slogan and logo
- · Your business information, such as where to locate you and when it is the best time to reach you
- · Your “about us” page, giving your audience a quick view of what your business is about and what the purpose of your business and why you started the business in the first place.
- · Your field of expertise, could also be included in the about us page,
- · Your products and description – you need to categorize your products and give them a short and clear description of what these products are for and why your audience should choose your products
- · Your blog - blog should always have new informative and valuable contents that are relevant to your company.
- · Connecting and socializing – include your social media accounts or add social media icons so that the audience can easily locate you on social media platforms
Marketing of your business using strategic planning
A competitive analysis is vital for your small business
marketing plan; you need to establish your products and services in a unique
way to be able to attract your target audience. Competitive analysis starts by
placing your strategic groups according to how directly they compete. You need
to look at your competitors current and past marketing strategies, to learn
from their success as well as their mistakes. What are the things you need to
research?
- · What products and services do they sell?
- · What are their past strategies?
- · What are their current strategies
- · How many clients do they have?
- · What are the potential threats do your competitors pose?
- · What are the potential opportunities do they make available for you?
- · What media marketing are they using
Competitive strategies
Once you have established the assets and skills necessary to
succeed in your small business and have gained your competitive advantage, you
need to plan your strategic marketing, which usually falls into these
categories
- 1. Product
- 2. Promotion
- 3. Pricing
- 4. Distribution
- 5. Advertising
Conclusion
Many of these factors mentioned above, can be discussed with
your marketer, so can agree on a marketing plan template that works well with
your goals. Your analysis plan will also help your products pricing threshold,
without turning away customers.
Are you ready to choose your products and set your prices?
Contact us today for competitive analysis plan for starting
a small business. Socratic Investments will take current market trends and use
them to predict the direction of your company
Socratic SBC | Small Business Consulting
2 Wisconsin Circle Suite 700 Chevy Chase, MD 20815
Office: (410) 929-6395
Fax: (202) 318-0689
admin@socraticsbc.com
No comments:
Post a Comment
We appreciate your opinion comment ahead!