Yes, do you know your competitors have an edge over you?
All business is aware of the fact that their competitors are over them and continue to think and or assume that they are over their competitors! Furthermore, businesses are always endeavoring to stay a step ahead from their competitors. To do so, businesses adopt measures to get insights on what their competitors are doing, the processes and procedures they are following and or adopting, when the new launch is going to take place, what new is being introduced, what the introductory price is and a never ending lot more. For what? Just to compete and stay ahead!
Without doubt, conventional methods do still prevail being implemented by certain business from old school. These businesses prefer to continue with these conventional methods of competing, as for them it’s the best method to follow. Later on they are left wondering what’s going wrong as objectives are not being accomplished! Such businesses are aware and some even accept the fact, that trends are not only changing, rather have changed! But for whatever reasons prefer to continue without implementing change of reaching out to their audience and customers. Those that are willing and have adopted the new trends of advertising and reaching out to their customers, have not only gradually climbed the ladder, are rather doing very well with sales and customer retention!
In general, it has been a while since the inception and presence of digital media, it implementation, functioning and how it has made a difference to businesses with ROI. In present times, every individual is digitally connected, through various social platforms, thanks to the mobile phone (desktops/laptops are like obsolete). Go to see it, social media has become a lifeline globally for everyone. The moment one awakes, the first thing to do is “check their phones” for messages, follow-ups, instructions and a lot more. It wouldn’t be wrong to say that, not only have we become reliant but with our lives totally dependent on these social platforms and above all the mobile phone.
Furthermore, the global pandemic Covid-19 has changed lives along with living lifestyle of individuals. With the vigorous implementation of social distancing, business are adopting as having to implement measures at work, offices, restaurants, cafes and every other social location for prevention purposes. Business are now of the idea of cutting costs and saving on several overheads by taking advantage of the “work from home” option; having and getting work done remotely.
Undoubtedly, the global pandemic Covid-19 has played havoc in everyone lives including business! Businesses have more or less, lost their presence and identity. With the gradual ease back towards a normal life businesses are presently finding it difficult to get back on their feet. They know, it going to take a long time to be known or to be recognized for their products and or services, except by their existing customers. Nonetheless, the wise ones have already taken advantage of the pandemic lock down to secure their future! How?
During the lock down, the wise ones had the notion of creating their presence again. How? Branding, even though there was no business for them! Yet they were of the concept they need to keep their existence alive! Subsequently, irrespective of size, businesses were not looking for ROI. They were more focused on “presence through awareness” and opted to sustain their presence through branding, even if there was no customer or sale!
These businesses understood that the actual ROI was their existing and new potential customers. These business understood the value of digital media i.e. Face book, Twitter, LinkedIn, Instagram, SEO, PPC (Google ad words) and a lot more, even with limited resources; yet looked out on how to sustain that connection with their existing customer to show that they still care for them and still there! Simultaneously, with given suggestions, were of the opinion and lookout to retain existing and other potential prospects (website visitors) to convert and sustain them as their customers.
While some are still contemplating on how to reach out to their existing audience, retain and convert prospects to new potential customers, others have already taken the initiative gaining them that edge over their contemplators. Done correctly, ROI yields for the future is inevitable!
Do you know, your competitor has an edge over you?