The New Competitive Marketplace and What it Means for Your Business

By Nancy LeVasseur

Think you’re competing against your competitors’ product? Think again. You're competing against your competitors’ ability to market information about the product you both sell.

Part of competing effectively in the search experience means actively creating and providing information, (primarily through your website and social channels), that educates and helps solve your prospects’ problems.

You may have the best product in the industry, but if you don’t share what you know along with your expertise in your field, people who are actively looking for you may never find you. Instead, they’ll be on your competitors’ website getting the information they want and need.

The New Internet Consumer

Today’s consumers are better informed and more empowered than consumers were 10 years ago. They are using the internet to their fullest advantage to make informed decisions about the products they purchase.

The new Internet consumer, interested in your product, no longer has to call your sales team to get information. They go online to find the information they need. They read product descriptions and reviews, and if they don’t find what they’re looking for on your website, they could go to your competitors’ website.

For products with long sales cycles, the new internet consumer is more than half way through the research and vetting process before they call your sales team - if they decide to call your sales team.

The New Internet Marketing Approach

The new Internet marketing approach is called “Inbound Marketing.” Part of the inbound marketing strategy includes content marketing – providing unique, exceptional information about what you know to address your future clients’ needs and solve their problems.

Your content should. . .

• Be created and written with a specific client persona in mind. 
• Be empathetic and address the needs of your buying personas. 
• Grow in depth as the buying process evolves. The further along, the more detailed the content. 

The New Business Differentiator

You might think content marketing has nothing to do with your differentiator. But this blogger contends that it can be the starting point of what sets you apart from your competitors. Your content marketing differentiator should be your ability to:

• Anticipate your future clients’ needs and concerns before they even know what they are. 
• Provide solutions for your clients’ problems. 
• Know and share the latest industry news so your clients can be ahead of the industry curve. 

How can Inbound Marketing help you?

Increased qualified sales leads and client retention - that's how. Staying ahead of the curve with your industry’s latest changes and trends, and sharing that information online, is going to make you invaluable to your current clients. They’ll stick with you for the long haul because you are a trusted resource.

How's the end-user's experience when they visit your business's website? Are they getting the information they need, or are they going to your competitor’s website?