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Mobile competitive intelligence
One of the first rules of marketing is to know your competition. Knowing your competition allows you to play up your own strengths while competing with theirs, and identifying their weaknesses is akin to identifying your opportunities. If they are bad at customer service, you can take some of their market share by providing amazing customer service. It is an opportunity for you to gain some of their market share. The advantages of knowing your competition go beyond this. There are many reasons one should know their competition, for both mobile and traditional marketing. Here's what you should know: Learn from others. How are others reaching their audiences via mobile channels? This is really useful, as mobile marketing is a relatively new field of marketing, learning from industry leaders can help you make fewer mistakes, and spend less money and time in unneeded ways. While no one wants to follow in their competitor's footsteps, if they are being successful, you can use their knowledge to help you avoid making mistakes. While knowing what your competition is doing is important, it is not like you can just go up to them and ask them for their playbook. So, how can you know what they are doing? You can use syndicated tools such as comScore to get detailed information on what other marketers are doing in mobile. You can also learn about it by experiencing it. Become a subscriber to their mobile campaign, opt in, and see what they are doing, what they are offering, etc. This is the competitive intelligence you should gather: First, who your competitors are; second, what are they doing? Third, who are they partnering with? Mobile marketing often requires partners, and choosing the right ones can really help streamline the process. Knowing what your competitors are doing can help you stay ahead of the game. It means having the opportunity to be preemptive, and not get left behind when it comes to trends, and meeting customer needs. Continual research is important. The world of marketing is ever changing, and this is especially true of mobile marketing, so do your research, stay abreast of the latest trends, and don't get left behind. When creating your plan, look at the most recent data, but remember that trends change, especially in mobile marketing, as it is still evolving (as all new forms of marketing will do). Don't forget that exploring options is important as new marketing models are being developed, new features and functionality is opening up, and changes are occurring, it is okay to be part of that, or even the instigator of it. Thus, staying abreast of the market and competition is key to success in the long-term, and knowing what others are doing, and adjusting it to fit your needs can help you be a market leader. |
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