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4 Marketing Competitive Strategies for Businesses

Ossi Samuel

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4 Marketing Competitive Strategies for Businesses

Business Competitive Strategies

Marketing competitive strategies are marketing techniques aimed at making a business thrive better than its competitors when employed. Basically there are 4 marketing competitive strategies for businesses. Most people who own a business or intend to start up one are usually caught up in the puzzle of how to beat their competitors. Some may have a vague idea of a workable strategy but lack an articulate ability to pull it off.

Also Read: What is Marketing? The four elements of Marketing

Business competitors, amongst all other challenges, are probably your most important challenge. Even if you have an excellent business system, if your competitors are doing well, it’s just a matter of time and you’re out of business. Everyone needs that technique that can place them a step or miles ahead of their contenders. For example, a student with parallel A Grades with 98% for each subject still has the possibility to come second position after a student with 99% for each subject, even with his excellent grade. If there was a prize for the first position only, the second student with an excellent grade will miss it anyway.

In this article, I have outlined 4 marketing competitive strategies you will need to consider first before devising a technique against your competition.

  • Cost leadership

This type of strategy involves an economies of scale  where you purchase goods in bulk from a producer at a discounted rate and sell at a rate much lower than that of your competitors, making it difficult for your competitors to keep up. However, to do this, you will need more business capital than required to start up your business. If you lack sufficient capital, there are other ways to do this.

  • Differentiation

This involves developing a unique product or service that is difficult to imitate or replicate by competitors. Through the differentiation strategy, you are steps ahead of your competition simply because you can offer what they cannot. This strategy may require you to embark in intense research and development project to build a unique product or service.

4 marketing competitive strategies-www.entorm.com

  • Low-Cost focus

The Low-Cost strategy is the same as the cost leadership, the only difference is that you will have to shift focus to a particular category of (potential)customers’ in the market. For example, you may decide to sell your goods at a cheaper price in bulk to just university students, or bankers. It involves focusing a price system to a particular market niche.

  • Differentiation Focus

The differentiation strategy, like the low-cost focus strategy, also focuses on a specific subset of the market. But instead of marketing a product or service as the cheapest, it’s marketed as being unique in some way. For instance, a company might develop a product that is specifically made for left-handed people. By focusing on a narrow market segment, a company can focus its efforts which may require fewer resources than developing a product for the broad market.

Out of the following 4 marketing competitive strategies, none is more important than the other. They all have their roles to play depending on the type of success your business needs.

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Ossi Samuel is a mafian thinker, an avid reader and writer, and political analyst. Am a humanitarian and fun loving person. I love Tech by the way and will always have your time if you have any ideas. I can be reached on Facebook

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4 Twitter Marketing Strategies to Boost Your Business in Nigeria.

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The world has since moved past using Social media to create personal connections and bring people together. Today, businesses can leverage the large customer base offered by social media platforms like twitter to grow their businesses revenue exponentially. Twitter marketing is a prime strategy which any business can and should deploy today at a moderate cost. By marketing on Twitter and by deploying time-tested and proven Twitter marketing strategies, you can grow interactions with a worldwide audience directly who can become your customers almost immediately.

With twitter marketing, you can create a devoted fan base to which you can sell your products any time you wish. All you need is the right information on how to get started and how to sustain effective twitter marketing strategies for maximum returns on your investment in the long-run. That is why I put up this simplified guide on 4 twitter marketing strategies to boost your business here in Nigeria.

Twitter marketing strategies

One of the salient twitter marketing strategies is to efficiently engage your fans with interactive tweets in an enticing manner. You can do this by posing a challenge, offering a contest, or mentioning other recognized brands in your tweets. Since at least one user of twitter follows at least five other brands, there is the likelihood that users will see your tweets mentions as they browse through other brand’s feeds.

Indeed, Twitter is an amazing and powerful social media marketing tool which you should deploy for your business today. If you are interested in improving your online reach and presence, invest in Twitter marketing today. This guide explains step-by-step how you can accomplish this easily.

Steps to boost your Business in Nigeria Using 4 Top Twitter Marketing Strategies.

1) Building Relationships and Engage Influencers:

It is true that money reside in people’s pockets, but to get it from them you must become someone they like or work with people they like and trust. Engaging with influencers on Twitter can help you reach a wider audience that trusts you and/or your business. You can pull off massive sales by working with Twitter influencers in your niche. To find influencers in your niche, use “Twitter Search” or “follower wonk” to find experts and influencers in your industry.

Alternatively, you can use a marketing and automation tool like Audiense to discover influencers in your niche. To start, search a keyword in your industry; you’ll find Twitter handles pop up in order of number of followers. From this, you can decide on the influencers you wish to contact to help you with your twitter marketing. Engaging Twitter influencers can give your business more visibility and unprecedented town around within a short time.

2)   Revamp Your Twitter Page

Revamping your Twitter page has a lot to do with your content. To gain trust and visibility, you need a top notch content creation game plan. You must consistently create compelling and engaging contents on your business. The keyword here is “consistency”. Another keyword is “compelling” and the last keyword is “engaging contents”. To boost your business marketing using twitter, endure or endeavor to structure contents that invoke conversations and keep you in the minds of your audience.

3) Use Hashtags Professionally

Including relevant hashtags in your tweets is an important marketing strategy you must engage in. Use the right hashtags for your niche. You can adopt a hashtag that is unique to your brand. Use Hashtags to join trending conversations in your niche and ask your followers to retweet including your hashtags in their tweets.

4)  Run Twitter Ad Campaigns

Twitter ads are well-targeted to ensure that individuals and businesses reach their desired audiences at the best ad rate. With ads you can easily reach Twitter users (who could be) interested in your offer and convert them to customers within an idea time range.

Twitter Ads help advertisers reach targeted audiences by defining specific demographic audiences according their age, location, gender, and technology. To have an effective Twitter Ad campaign, ensure that you create a hypnotic and compelling offer with a clear call to action.

Conclusion

The Twitter marketing strategies I discussed here have been proven to boost sales and scale businesses over the years. It is important to engage influencers, create engaging content, use relevant hashtags, and targeted Twitter Ad campaign to grow your business on Twitter. It is possible to be in the league of entrepreneurs monetizing Twitter if you apply these Twitter marketing strategies to your business marketing plan going forward.

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Digital Marketing 101 for Small and Medium Businesses in Nigeria

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To start with, we have to know what digital marketing is and why it is very important to integrate it into the building of your small scale and medium sized businesses.

Digital marketing is an avenue for promoting products and service through the internet with the use of web-based or web-enabled/enhanced digital technologies such as desktop computers, mobile phones, and other digital media platforms.

Every business whether small-scaled or medium-scaled need digital marketing to grow. The use of digital marketing in business can help to drive brand awareness and tell people more about a business thereby drawing customers’ attention and making sales. Digital or Online marketing can be done through platforms like social media, a business’s (i.e., company’s) own website, search engine rankings, email, display advertising and other kinds of incentivized advertising strategies done with ICT tools or via the internet.

Digital Marketing 101 For Small And Medium Businesses In Nigeria

Digital Marketing 101 For Small And Medium Businesses In Nigeria

The knowledge of Online marketing is vital for businesses and aspiring business owners must make effort to include it right from the kickoff stage of their business. Just like new students offer 101 (i.e., foundation) courses to introduce them to the basics of their course, business startups and startup founders need to get the proper orientation on digital marketing for managing and making good turnaround in their businesses. This is important whether you are a small business, a medium business or a big/large business. The knowledge of digital marketing is one knowledge that can (and will) surely help you to have a successful business.

Below covers some fundamentals of digital marketing and explains the reasons for digital marketing in business:

(1) Digital marketing Helps In Goals and Targets Setting.

Every business has a goal and target it wants to meet in say 5 to 10 years. For instance, as a business owner you might want to reach a million customers in 3 countries in 10 years. This is a big goal and only digital marketing can help you to achieve this.

This may not be your goal but every business has similar goals as this. To meet them, you need to apply several strategies of which digital marketing comes top.

Before now, when we had to send letters to friends and family or business partners and the rest, we used post offices and these letters and messages did not get to them until after days. Also, people only did their businesses within their immediate environments and only few people knew about it which eventually brought very little sales and profits.

Now, you can sit at the comfort of your office or business location and reach customers thousands of miles away from you by the help of social media, emails, search engines and advertorials on blogs, websites, and forums. This is what we call digital marketing. Goals which looked unattainable to people and businesses decades ago can now be achieved through the help of digital marketing with ease.

(2) You Need Digital marketing To Create Awareness and Potential for Your Business.

Digital marketing can help you to discover the potential of your business and how big it can get. It helps you to determine how much your business can generate and how far it can go.

With digital marketing, you can easily know and have a better understanding of your target market, online audience and people who are searching for and need your product(s) or service(s).

Adequate knowledge of online marketing is what businesses that have gone big use in improving and expanding their reach and evaluating their strategies. You simply won’t know your online audience and market place without effective digital marketing.

(3) Digital marketing Assists to Beat the Competition

You can keep up with competition when you apply digital or online marketing to your  business strategy. You will find out that you can reach more customers too and expand just like other businesses can.

(4) It Helps You To Maintain Relevance in the Market

Most contemporary businesses that stay in the market for a long time and become successful used digital marketing to do that. The world is moving very fast and everything is going digital so only businesses that go digital too stay relevant.

A lot of things have gone from manual to automatic. Not many people still go to stores to buy goods or services. Rather, because more people now spend most of their time online, they can easily see product and/or services they need online, order them and get them delivered to their doorsteps.

If your business has an online presence, you can sell to targeted buyers online too and make good profits with less stress. On the contrary, you will keep selling only to the people who can sacrifice their time to come patronize you physically. Of course, the number of people who fall into this category these days is getting fewer.

Now that you know the importance of Internet marketing in businesses growth and success, the question could be, “How Do I Implement This Digital Marketing in My Business to Make It Grow?”

It starts with deciding on the digital marketing strategy or platform that you wish to use. This is essentially choosing the areas of digital marketing that would be best to use for your small-sized business or medium-sized business.

Top 4 Digital Marketing Options to Choose From

There are many options that you can deploy in your online marketing endeavor. However, I am of the opinion that the following are the pivot on which the majority of other digital marketing strategies hang:

  1. Social Media Marketing
  2. Search Engine Optimization (SEO)
  3. Content Marketing
  4. Email Marketing

Let’s see what each of them entail in detail:

(1) Social Media Marketing

Social media marketing is the use if social media platforms like Facebook, Twitter, WhatsApp, Instagram and other social media platforms to connect with your audience to build your business/brand, reach wider audiences and increase sales.

Social media marketing is a great way to start digital marketing as a small business owner. It is easier and mostly free to use. It only comes with charges when you intend to further expand your business by leveraging paid adverts to reach wider audiences.

Let’s take a look at what you can do yourself in social media marketing your business yourself.  Facebook is a very popular social media platform for marketing. First, you open a page that talks about your business. Then, invite your friends to like the page and post your products there for them to see. You can also post in groups you are in and also on your wall and get a team that will help you amplify these posts.

Some groups have been built by social media influencers into potential market places. Some of those groups with over 50,000 members can be good to post about the goods and services you render. What you just do is contact the administrator of the group and negotiate for a front page allowance for a period of time. You can also apply this strategy to other social media platforms and even forums with constant visits. This is a great way to increase sales and traffic for your website.

(3) Search Engine Optimization (SEO)

Search engines nowadays are almost the number one gateway to many websites because when you search for something online on a search engine like Google, the websites with arguably the most relevant information displays. This is as a result of search engine optimization done by the owners or administrators of such websites. Search engine optimization simply means carefully arranging your site to increase its visibility for relevant searches. This can lead more people to your site and convert this traffic (i.e., visitors) into (repeat) paying customers.

(3) Content Marketing

This is the creating, publishing, and distributing relevant content to help target audiences. You can do this by guest-posting (i.e., guest-blogging) on other blogs/websites, placing valuable contents on forums, sharing contents on social media, advertising on digital magazines, brochures, yellowpages, etc.

(4) Email Marketing

Email marketing is the type that help you keep customers aware of you products and services. You can read more about email marketing strategies for better conversions here. If you are new to email marketing and you wish to know how to go about it, g ahead and read this article. It will surely help you to kick start your email marketing on the right footing.

Conclusion

This article shared the basics of digital marketing. It explained the concept of digital or online marketing and covered the importance of it. Furthermore, it explained the different digital marketing platforms and strategies available and how to choose them for your business. Beside the ones mentioned here, understand that there are other digital media marketing tools out there. This include Voice SEO, video marketing and Pay Per Click (PPC) Adverts. These have their peculiar advantages and I invite you to leverage them also for the success of your business.

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All You Need To Know About Social Media Integration: A Guide

Ossi Samuel

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know about social media integration

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