Acquiring your target market today – B2B or B2C, is getting challenging by the day. Especially if you’re just entering the market with a new product or are running a small business on a modest marketing budget. Targeting the consumer market that is already half acquired by bigger businesses, needs you to get a competitive edge over them. This is where competitor analysis or data comes in.
Data makes your business content marketing strategy more robust. Since most of the content published by your competitors is public for their target market, you can use the information to gauge what might work for your growth and what could possibly fail.
Knowing what works and what doesn’t, helps you create an even further optimised strategy for your business – without having to set aside resources for A/B testing over long period of time. This is the competitive edge you need to acquire customers in a competitive market.
Here’s taking a look at how you can use data to create a high converting content marketing strategy:
Make use of social data in your content strategy
Understand your target market
The first and foremost thing you need to do when creating a content marketing strategy, is to understand your target market. Don’t just look at the general demographics of your audience, but also try to segment them based on more in-depth data points like their previous purchases, pain points, what they were searching for, etc.
The better your segmentation of the target market, the more you can personalize your marketing campaigns – making them highly effective and converting.
Identify your market niche
What your business offers – product or service, might fall under a category that is already being offered by another business in the market. While you and your target audience might consider your products/ services the same, it is important for you to identify your niche first.
Understand what your business is all about, why you started it and what you think can be its value proposition. This proposition will be your way to stand out in the market and make people want to interact or engage with it.
Shortlist your channels
Once you know your niche and your target audience, understand the digital forums and social channels you need your business to be present on. Each forum and channel has a different characteristic and purpose to it. Hence, it is important for you to start off with only those that hold the maximum of your target audience and has a greater probability of engaging them on a higher level.
Conduct a content audit
Take a look at the content pieces your business currently has across all possible digital platforms. Identify the ones that were popular in your target market or are similar to those pieces that have done well in the industry.
While you do so, also take a look at the marketing collaterals your competitors have created to address and acquire the target market. Be it case studies, white papers, blogs or videos, you need to understand what type of content your audience is able to consume the best.
Repurpose content and create visuals
Visuals are processed 80X faster than any other form of content. So after you have conducted a content audit, repurpose it to create visuals that share the same informative data with your target audience.
Visual content is also more likely to be shared or linked to in digital forums and social media, which will give your business’s brand the much needed boost in the industry. But while you repurpose popular content, remember to not make it too repetitive in nature or you’ll lose the reader’s interest.
Keep them engaged consistently
Creating a digital presence is a lot about being consistent with your efforts. Be it blogging weekly or publishing posts on social media, on a daily basis, consistency is the key to establishing your name in the target market.
Apart from that, use insights such as engagement rates, conversion rates, shares, brand positioning and more to consistently optimize your engagement strategies. The higher the levels of engagement with your business, the more likely is your target market to convert on campaigns you expose them to.
Conduct an in-depth competitor analysis
Identify your competitors
Today, just about every business has taken their offerings online. You name a product and there at least a hundred brands out there offering it – we’re not saying they are all the same; but they are similar in nature.
This is why it is important to identify all your competitors in the market. Right from those who have the highest similarities to what you offer, to those who might just fall under the same category – list them all out to understand your brand’s market positioning.
Understand their market position
Apart from shortlisting your competitors and understanding your brand’s market position, it is also important to look into where they stand. How much of your target market have they acquired? How reliable are the considered in the industry? How authoratative they are in their specified niche? What are they doing to improve their brand positioning further? And more.
This will not just help you create the content marketing strategy, but also help you with predictive modelling. Which in turn, helps you remain prepared for the changing market trends so that you don’t lose out on customers.
Learn from competitor strategies
Like we mentioned before, it is important to know what has not worked in acquiring your target market previously. This will help you save your resources and optimize your efforts for better results. A few tools that can help you tap into competitor content strategies as well as keep abreast with market trends are:
Make social media a core part of your strategy
While social media marketing strategies need to be created separately, it is important that you make social media a part of your content strategy. The two strategies need to be moving hand in hand towards the same goal, for effective results.
Be it running paid campaigns, sharing on social media, conducting an outreach to influencers or potential customers, etc, never let your target audience feel overwhelmed by seeing two different things on the two platforms. Creating an omni-channel experience increases their chances of conversions.
Over to you
Creating a content marketing strategy isn’t a one-time thing. You need to consistently monitor the results of every little aspect of your strategy and optimize it for better results. With the changing trends and needs of the target market, you don’t really want to miss an opportunity for customer acquisition!
So make data a core part of creating your content marketing strategy.
Don’t know how to effectively integrate data with your content marketing strategy? Give us a shoutout on Twitter and we’ll be glad to discuss!