business-globe-yellow.jpg
Success Through Strategy!

Strategy Matters delivers news, tips and strategies for effective communications through traditional and social media. 

Need Help With Content Creation and Marketing?

We can create, coordinate and place your content through your communication channels and through targeted media placements. Monthly management fee schedules, and single-project rates, based on your needs. Contact us to learn more. 
Think You Don't Have Any Competition? Think Again!

Every once in a while, we work with a client who believes that they do not have any competition--that they are unique or their product is so exceptional that there is just nothing that competes. 
Those conversations are always just a little bit awkward because, in reality, every organization of any size has competition in one form or another. 

 

 

Even an organization that is introducing a truly unique and innovative new product will deal with "indirect competition" (literally, "any other alternative" to what they have to offer).

 

Acknowledging competition can be tough, but it's a critical step in determining how to best "position" and sell what it is that you have to offer. One way to think about this is to ask yourself the question:


 

"If they didn't have us, what would they do?" The answer to that question gives you a starting point in terms of thinking about the "competition" - even if your answer might reflect indirect competition. The restaurant industry provides a good way to think of this.

 

Suppose you would like to introduce a new Indian restaurant in your community. There is not another authentic Indian restaurant within 100 miles. Therefore, you determine, there is no competition.

 

But wait a minute! If your potential Indian restaurant patrons didn't have you, what would they do? They'd likely choose some other type of restaurant--one that was available to them. That other restaurant (or the list of other restaurants) would represent "indirect competition"--competition that doesn't offer exactly what you have to offer, but is something that could be considered a reasonable substitution.

 

If you do not consider these "reasonable substitutes" as you determine how you will market your goods and services, you limit your ability to come up with key messages that adequately (or exceptionally!) convey why what you have to offer is better than those other opportunities.

 

So, if I'm trying to introduce an Indian restaurant in a community that has Thai, Mexican, Mediterranean and traditional American restaurants at about my same price point, I'm going to want to consider ways that I might communicate to those in my community that represent my target audience that what I have to offer is better. It might have to do with the atmosphere in my restaurant, the convenient location, the freshness of my ingredients, the unique menu options, the healthy nature of my food, the celebrity chef I've hired--or any combination of the above.

 

The point is we're all competing with something.

We just have to be open-minded enough to admit that we all have competitors of one type or another.  

Think about it. Who are your competitors?

 

  

Some "Not So Obvious" Ways to Use Google Analytics More Effectively


We've come up with a list of things we've found to be most useful in analyzing our own, and our clients', online activities:

Keep it simple. 
You can quickly get dragged "down the rabbit hole" of data with Google Analytics, and other data analysis tools. There's a lot of great stuff there and you can view, review and analyze it to death. But time is precious, so don't get caught up in this trap. Identify what is most important for you to know, and then prioritize and focus on those things.

Your bounce rate is a good way to determine engagement--or lack thereof. If visitors are coming to your site, and quickly leaving, they're not finding what they had hoped to find. Recommendations vary in terms of the optimum bounce rate-we've heard anything from 35-50%; the important thing to know, though, is that lower is better. Watch your bounce rate over time to determine whether you're doing a better job of keeping people engaged. (Caveat: this may not always be the case; if you're driving people to a destination page and don't expect them to go any further, bounce rate won't matter.)

Review traffic "sources." 
Your traffic sources tell you how people are coming to your site. For instance, are they entering your URL and coming to your site directly? Are they using various search terms to get to your page? Are they coming through links (referrals) from other sites? There is a lot of really rich information here. We've discovered some interesting things as we've analyzed results for our own and our clients' sites.

Those coming to your site may already know about you, meaning that "organic search" is really not driving traffic to your site. For instance, if you find that most of your visits came directly through your URL or through variations of your name, or your business' name, you're not generating search traffic. 

But that may not matter. With our own sites, for instance, our goal is simply to have a place to direct those we have interacted with in other ways. We don't expect to be "found" by those unfamiliar with us or with our services. The same is true for some of our clients.

If that's the case for you, it's okay if search terms are simply variations of your name. If not, your site is not showing up through organic search, making you "invisible" to potential customers/clients. That's a problem.

In addition to analyzing your web site traffic, you should also be reviewing your social media results regularly. Here are some additional tips on how to bring social media analysis into the mix.


 
Seeing Beyond the Smoke and Mirrors of Self-Proclaimed "Experts"

In the "old days," finding experts was largely limited to identifying them through academic circles or highly regarded trade and professional publications. Experts were, in essence, "vetted" and those seeking their input could rely upon their veracity, authority and credentials. But things have changed.


Today, literally anyone can be positioned as an "expert"--whether they really are one or not. This has become possible because of the World Wide Web and a plethora of online communication channels, including web sites, social media, blogs, etc.

 

This is both a good and a bad thing--for experts and those who seek their counsel. Here's why: 
  • It's very easy these days for just about anybody to present themselves as an "expert" through a well-developed LinkedIn profile and/or a well-designed web site. But neither of these trappings necessarily mean that these individuals are really experts. 
  • For those seeking their advice and counsel--whether as sources for media interviews (which I frequently do), or as potential service providers or partners--it's important to take the time to dig a bit deeper before deciding who among the masses is really a reliable expert. An exceptional web presence and a professionally designed web site do not make an expert!
  • On the flip side, there are plenty of legitimate experts whose expertise is diminished by their poor online presence: poorly designed web sites (or no web site at all); a LinkedIn profile with no photo, scant information and minimal contacts; Twitter feeds with the ubiquitous "egg" graphic, etc.

Whether you're seeking expertise, hoping to position yourself as an expert, or both, here are some important things to consider:

  • While you may be able to fool some of the people some of the time, it's not likely that you will be able to fool the most important people much of the time. Discriminating prospects, savvy journalists and others are increasingly looking beyond the "smoke and mirrors" to dig into the backgrounds and credentials of those they will trust as consultants, sources and service providers.
  • If you truly are a legitimate expert, and have the background and credentials to prove it, but haven't been able to gain traction online, maybe what's been holding you back is the persona you are projecting. Compare your online presence to your competitors. What do you see?  
  • Build your credibility the old-fashioned way; earn it. I've been burned by sources and service providers whose online presence reflected a higher level of expertise than they were able to deliver. I'm sure others have been too. The danger these "charlatans" face, though, is that if they're not able to back up the promise of their expertise through real action, word will spread. And, with the advent of online communications, it will spread quickly and far.
  • Do your due diligence. Don't be overly enamored of a flashy online presence. Dig beneath the surface by conducting broader online searches, critically evaluating LinkedIn information (e.g. who are they connected to, who has provided recommendations and referrals, what evidence can you find of what they have actually done), and seeking additional recommendations and referrals.
  • Don't dismiss the value of the "old gatekeepers" when vetting someone's credibility. Academic and trade sources can still be a good way to discern expertise.

As with most things, the cycle of easy online expertise is swinging toward greater caution and discernment, I think, and for good reason.

Be careful out there!

Featured White Paper

"Small Businesses and Content Marketing: Best Practices"
Small businesses can leverage the power of content to get noticed, gain connections and customers, and build business through the strategic use of content. Learn how. 

 Get your copy here.
Volume: 7 - Issue: 8
 August 2015
Strat Comm logo
In This Issue
The Competition
Google Analytics
Finding Real Experts
We're In the News! 





Research Matters
Some recent news and  research you may be interested in--we were!