Let’s talk about leads.
- Are you getting any? A few?
- Where are they coming from? Word of mouth? Through your website?
It’s important to be brutally honest with yourself here.
If you’re getting leads by word of mouth, congratulations! Word of mouth is the best form of marketing, ever. Our job is to get you digital marketing leads – but they’ll never be better than leads that come via word of mouth.
However, while word of mouth is powerful, it’s not always under our direct control. You must consistently provide great products and positive experiences to encourage people to recommend us naturally.
Let’s say one particular customer is very happy with your work and may recommend you to a friend at a BBQ on Saturday night. That friend could try to get in touch with you, but it took three weeks to contact you. A single disappointing experience could undo the positive word-of-mouth marketing that attracted your previous customers initially. You don’t know when or from where this kind of lead will come so you may want other types of leads as well.
If you’re getting leads through your website, they’re most likely coming via Google. This is what we call SEO leads (organic) or Google Ads (paid). Social Media leads are also included here as it will direct people to your website. Fortunately, this is easily trackable, making it easier to see what does – and doesn’t – work.
Now that you’re aware of the different types of leads, figure out where yours are coming from and then figure out which ones are weakest. If you’re getting some great leads through word of mouth, this means you’ve got a great business, that you’re doing something right, and that people like you. If you’re going to grow further, how are you going to augment and make more of those leads?
When we think about threats, we need to look at the outside environment and what could potentially take business away from us. The main thing to consider is your competition and you can do this by conducting a very simple competitor analysis.
DIY Competitor Analysis
Here’s a simple analysis method you can do on your own. Find three competitors. Don’t look at ten – you’ll just get overwhelmed. Three is enough to give you a sense of what’s happening. There are a couple of ways you can do this.
To find out who’s competing with you on Google, search Google for one of your top generic keywords, related to one of your products or services. Take note of the top three results. To gain the top ranking for a particular keyword, it means you have most of the traffic and therefore, most of the leads. So, it’s a safe bet that they’re amongst your top competitors.
Visit your top three competitors’ websites and take note of the following:
- Are their logo and branding clean and clear?
- What is their core message?
- How easy is it to use their website? Can you easily access what you need?
- Do they have a clear, unique selling proposition that sets them apart?
- What are their calls to action?
- Do they have phone numbers and contact forms, and are they easily accessible?
- Do they have an onboarding method?
Look at their social media. Facebook, Instagram, and LinkedIn are the big three. Check for the following:
- Are they posting regularly?
- Are their posts interesting for their target market?
- What can you learn from their social media?
You’re going to come across a whole stack of ideas. Maybe your competitors are doing well with their digital marketing, or perhaps they’re not. Maybe there are opportunities here, even though the initial reaction is to avoid threats, where you might be able to fill a gap in your overall marketing strategy.
Remember, there’s a lot of competition out there, all competing for a similar target market to yours. What are you doing to compete and how much of a threat are your competitors to your business?