StatisticsReview of WSI - Mountain Internet Solutions

Who will win? You or your competition?

Competition Research

Business Start Up

If you looking to start a business I would suggest you include some Competition Research first because you will need to know what kind of spending is required to make your business a success.  Thousands of businesses fail every year because they fail to set aside the budget needed to market their business properly.  A similar number fail due to spending their marketing budgets in areas that have no return on their investments.

Current Business

It has always surprised me how few businesses research their competition for advice.  Yes you can get advice from your competitors.  If you watch what your successful competitors are doing and what those that are failing are doing you can gain some insight into what works and what does not work.  This process can save you the cost of marketing your business in the wrong way.

Question: Are there times when something is working for a company but cannot work for another?  Perhaps.  What I mean to say is that sometimes the timing of starting up a marketing campaign may have been just right and that company may have been able to dominate that marketing segment.  It is also possible that a company may have made an investment over years to build up that marketing segment making it more difficult for new comers to succeed in the same marketing segment.  All companies that work hard to get the most benefit out of a digital marketing segment will be more difficult to overcome or to compete with than one that is lazy with their marketing efforts.

So look ahead at the competitors you want to compete with for their business, and look behind you to see if there are competitors coming up from behind you trying to take your business.  Your efforts need to propel you better than the competitions efforts.  If you are a leader in your industry and you own a marketing segment, then you are a target.  In this position you may need to become more proactive in looking for a better way to market your business because those smaller businesses are looking for a way around the marketing plan you have developed or they are chiseling their way up to meet you, taking revenue as they go.

If you spend more on the investigation of your competitors you will be rewarded in the end with greater profits and lower marketing costs.

Competitive Research

Comptitive Research Can Save Your Business Money While Growing Your Business

 

 

How much time and/or money should a small business spend?

Professional marketing companies will recommend 7% to 8% of your revenue. Others will suggest that small businesses spend 7-20 hours a week. Larger companies more.
The truth is there is no perfect formula for how much time or dollars you should spend. There are so many variables that need to be considered to determine the amount of investment and where to spend it that most businesses go about marketing as if it were a dart game. They throw darts hoping to hit the bulls eye.

The problem is that without some solid marketing information it’s like throwing darts from 30 feet away. If you can gather up lots of information so you understand your customers better, your competition better and your marketing opportunities better you can move the target much closer. Once your darts are hitting the dart board you can start to zero in on the bulls eye.

Marketing Stress

There are three stresses that make up the majority of marketing stress for small to mid sized businesses.

  • Lack of time to manage the marketing
  • Lack of funds to higher a professional to manage the marketing
  • The difficulty in finding and retaining someone to manage marketing with the needed skills for your business

If you started a business with the knowledge that you would be responsible for marketing the business you should have time budgeted for those tasks and have some background that made you feel confident you could manage your the marketing for your company. If you started your business so you could work less or to run the business, you probably don’t have the time or the knowledge to do the marketing yourself. In fact trying to do the marketing when you are ill trained to do so can quickly take up all your time and probably not give you the best results.

The solution- Higher a professional

How to know if you have the right person for you marketing

Digital marketing is changing so rapidly that a small marketing office should probably only specialize in one part of digital marketing in order to master it. If you want to stick to one office to manage all of your digital marketing needs be sure the office has a lot of resources. If you have developed a marketing plan you should see if the company has qualified resources in each digital marketing area that will be needed.

Digital Marketing Fields Include:

First Step – Research and Consultation

Before you dive into a marketing plan consider investing in some research so you better understand your customers, your competition and the marketing options so you can direct your marketing efforts in a more profitable direction. The money will be well spent as it can save you countless dollars in future marketing.

WSI-We do it all because we can.
We have over 1200 offices and production centers in over 80 countries. This office in located in Asheville, the Western North Carolina regional office.

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