Learning From Your Competitors Using Market Knowledge For Business Success

There are many examples throughout history of individuals and organizations using adversaries’ actions to their advantage. Whether it is war strategy or a sporting event with competitors studying previous game footage, it is clear that studying the habits of an opponent is advantageous to success. The same premise is true in the business world. By learning from competitors, business operators improve overall business performance and ultimately achieve a higher level of financial success.

The first step in learning from competitors is recognizing potential competition and assessing market impact. Competitors are classified as direct or indirect. Direct competitors operate in the same business market. Indirect competition refers to businesses operating within the same geographical area and having a financial impact on a business. However, indirect competitors do not operate in the same business niche. Of course, the Internet brought international businesses to every consumer’s doorstep and expanded the idea of direct competition. Local and overseas businesses operating in the same business market are now considered direct competition.

Knowing the number of competitors in a market is only part of the information needed to make successful decisions. By analyzing products or services, marketing techniques, distribution methods, customer service guarantees, staffing procedures, and customer satisfaction, valuable insight is gained into the business market. Information exposes strengths and weakness in the company’s strategy and market share.

There are numerous methods of acquiring competitor information. Company websites are excellent sources for understanding market share and becoming knowledgeable about a company. Additionally, local business organizations provide a wealth of information regarding business standing in the community and overall financial stability. The information indicates the emphasis a business places on customer satisfaction and how much the business may be able to discount items before a detrimental loss occurs.

One of the easiest methods of acquiring information is developing a business relationship with a competitor. Additionally, it is desirable to have a friendly relationship with competitors as it may be beneficial to work collaboratively on an idea at some point in time. Remember to talk with customers, and use customer satisfaction as a tool to discover areas of improvement. Additionally, suppliers in a business market are able to provide information through casual everyday conversation. Information provided might seem inconsequential at the time. However, in reality, it may divulge significant business strategies affecting market share.

Analyze data for weaknesses in a competitor’s strategy. Are there areas where a new product or service is needed but not offered? Which strategies, values, and services have worked for competitors and which have failed? Are competitors gaining a larger market share because their services are superior? If so, use the information as means to realign ideas and update methods to improve business success. In order to become successful and maintain a market share, business operators must be aware of market history and competing businesses. By carefully analyzing product information, marketing strategies, distribution methods, and employment data, operators can learn from business competitors and use that knowledge to improve market share and business success.

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All About SMS Marketing

SMS mobile marketing is one of the most effective forms of marketing today. This highly read, cheaper form of advertising allows marketers to direct advertisements directly to key consumers. Ninety percent or more of all text messages are read. Very few marketing tools can claim to be this effective at reaching target audiences.

Mobile advertising is not just a tool for big business; utilization of this tool by small business is just as effective for producing return on investment. SMS mobile marketing is a much cheaper form of advertising then traditional marketing. The inexpensive nature of Mobile advertising makes it the perfect vehicle to deliver key short messages to the masses.

There are several beautiful things about SMS mobile marketing. The fact that it targets specific consumers translates directly into effective sales and increased revenue. Imagine a small café in an industrial business park. During the three hour lunch sales window, if this café launched a 150 SMS marketing messages every 30 minutes to different consumers offering them a coupon or a special price on lunch the sales of this café would increase. There may be other café’s in the area but the SMS messaging has placed this specific café in the minds of consumers and offered them a coupon. Bringing recognition and incentive together is one of the goals that SMS marketing companies do for businesses. Mixing recognition and incentive is yet another beautiful thing that is provided through mobile advertising.

Mobile advertising companies make SMS advertising easy and affordable. There are many different aspects to advertising through SMS. Taking advantage of the increased dependency that people have on their smart phones and their mobile lifestyle means better advertising opportunities for businesses.

Mobile advertising companies use mobile marketing in conjunction with email marketing campaigns. These two forms of mass marketing work well together. Analytic data which is collected through both SMS and Email marketing provides valuable information that help to streamline and increase effectiveness of future marketing campaigns. SMS marketing can be just as effective in driving consumers to websites. The use of the embedded link works well with smart phones by making it easy for consumers to respond to advertising. Where email may fail to get a response a follow up message through SMS can not only reach consumers but also direct them.

The use of SMS as a tool to not only reach new customers but to improve the relationship of repeat consumers means businesses can increase sales potential though the cheaper and more affordable marketing platforms offered by mobile advertising companies. Taking advantage of mixing recognition and incentive at key times means businesses can take advantage of consumer needs and increase the return on investment for money spent on SMS marketing. Happy customers and increased sales are two important ways SMS marketing works to benefit society.

Why Did I Join MLSP Online Marketing Services and Strategies?

The internet is the biggest marketplace there is in the world. But that doesn’t mean that the minute you put your company and/or product on the net you will immediately have a mass market viewing your business and products. On the contrary, being that the internet market is so big, you will be just a mere drop of water in the ocean.

So what can you do to be noticed on the net? The first thing that comes to mind is to pay for advertising, but that can be expensive. There must be cheaper ways to get into the internet market.

- MLSP online marketing services and strategies -

MLSP has set up and streamlined a vast array of online marketing services and strategies for successful online marketing without the costs of advertising. There are many ways to promote yourself on the net without spending big dollars. MLSP has collected these methods and made them available to everyone. Even someone who is not familiar with the technical details of the computer can make use of the MLSP system. It should only take a few weeks of practice and study to become an MLSP specialist. The MLSP system will show you how to generate traffic and better yet, MLSP will show you how to put yourself in front of the existing traffic and show yourself off.

- MLSP online services and strategies -

MLSP explores most of the existing methods for online marketing. Then MLSP will lead you by the hand and show you what to do in order to make use of these methods. You will learn about writing your own blog and social bookmarking. You will be given several different landing pages to put in front of your clients. You will have auto responders and affiliate markets set up with MLSP. Magnetic sponsoring, Facebook and pay per click will be used. You will have income from several different sources. All by using the MLSP platform and marketing services.

- MLSP residual income and online marketing services and strategies -

In the beginning of your journey with MLSP you will go through a steep learning curve. MLSP is not for someone who wants to get rich quick. MLSP is designed for someone who will do all it takes to make it work. All along MLSP will be there to hold your hand and take you step by step through the program. MLSP provides an email support team and a live chat room to help you when you need it. Once you begin to generate an income your business will be like a snowball rolling in the snow. Once the snow begins to stick there is no stopping it. It just becomes bigger and bigger. Eventually you will have a residual income that brings in more money than your day job.

- How to join MLSP online marketing services and strategies -

MLSP will not let you join their team directly with the company. You must join by signing up under an existing MLSP leader. David Bookman is an MLSP leader. His specialty is working with those of limited computer knowledge. David Bookman will teach you the ropes of MLSP. With David Bookman you will know what to do and then it will be up to you to just do it.

David Bookman will show you how to make the most out of MLSP. David Bookman is an online marketing expert using the MLSP online marketing system. If you are into home business, network marketing and/or direct selling you can prosper with David Bookman and MLSP.

Why You Should Integrate Your Email and Social Media Marketing

The numbers from suggest that “everyone is doing it

• Two-thirds of U.S. e-mail marketers are integrating SM into their campaigns.

• A majority of small businesses plan to allow users to sign up for emails directly from SM sites like Facebook.

But should you integrate your email and Yes. Here are five reasons why:

1. The early numbers back it up. One study noted that click-through rates improved from 7.2% to 8.7% when a social sharing option was included. Another reported that a clear majority of email marketing firms found that marketing results were better after integrating social media and email.

2. Integration expands an email list to interested parties. People sign up for e-mails from Facebook and other social media sites, which of course increases the chance that they will read your material.

3. Integration expands the ways people can interact with you. The goal of most marketing is direct interaction with a potential customer. With integration, the reader of your latest email can go to Facebook and join a conversation, and someone else in that conversation can find out more about your product via email. And both are just one step away from your website, which is where most conversions happen.

4. Integration helps refine your message. When you have to make sure your Facebook posts, emails, and website complement each other, you are more likely to stay “on message.” In other words, it’s a good communications strategy.

5. Integration fulfills two key marketing needs at once. As an article in Direct Marketing News recently pointed out, email engages potential customers directly while social media nurtures brand advocacy. Integrating them helps customers seamlessly pass from the one to the other.It will be interesting to see what numbers come out in 2011. Although there’s little doubt that email and social media integration will become the norm (some would say it is already), no one (to my knowledge) has come up with really compelling statistics to back up its effectiveness. The industry as a whole is, for the most part, still in “anecdote mode” when it comes to integrating email marketing and social media marketing.