Minimize your weaknesses and drive growth. You can do this by: Determining competitor types Profiling your competitor’s target customers Applying the 4 P’s of marketing Using a framework for analysis – SWOT, Porter’s Competitive Forces, etc. There are a lot of great tools to help you conduct an analysis such as SEMrush, Brand watch, Ahrens, and Buzz Sumo. Understanding your competitors will help you create a benchmark to gauge your performance and get insights to.
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Help you make new opportunities. 9) Share & Network As the digital marketing industry moves so quickly, it’s important to build a peer network to tap into and participate new data in discussions. It’s also helpful to connect with or follow industry leaders to get insights and advice on different areas. So, when you come across an article or news item that’s interesting or insightful, share it with others on your team or in the company and ask them to do the same. Use social media networks such as LinkedIn or Twitter to showcase research or articles your network or groups may find useful. And here at the DMI, you could start a conversation in the community forum.
As well as links to help you conduct your own further research.
Or consider submitting something you wrote for publishing in our knowledge library. It may even be worth including knowledge sharing as an agenda item in your regular internal meetings. This could develop a culture of sharing and content ideation. 6 Simple & Effective Ways SGB Directory to Nurture Your Customer Relationships Articles Customer Experience (CX) by Digital Marketing Institute Customers are becoming more picky about where they shop. It’s no longer about having the best marketing campaign, the biggest influencer, or the most well-known brand, for many, it’s about transparency, value, sustainability, and most importantly, customer experience. 61 percent of consumers will pay at least 5 percent more if they know they will get a good customer experience according to an Emplifi report. This statistic should not come as a surprise to many businesses, particularly as they use digital channels to personalize and automate.