I own a local small business and I need to increase my piece of the market share. I am having a hard time pushing beyond my current % of potential customers and my competition is creeping in.
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I am starting a new business and I want to invade the market space and claim my fair share. How can I make this happen?
Increase your market share by focusing your online marketing strategy, which in turn increases the traffic to your website. This doesn’t have to mean you stop traditional advertising, but it does mean that your website needs to be more than just a static page online. It needs to be a dynamic piece of your small business marketing strategy.
As a small business, you are competing with other small businesses for a piece of the market share. To get an edge up on the competition, you really do need to move online if you are not already there. Especially in light of the way consumer behaviors have shifted in recent years.
Think about how many times a day you search for something online. Guess what?! So do millions of people! Google processes 40,000 searches per second, that’s over 3.5 billion searches per day! Crazy-mind-blowing, right?! Check out the live search stats right here.
If your business is already online, great! But odds are you need to refine and focus your company's internet marketing strategy. By setting up your website to work for you, it can market your business 24/7, drawing visitors and converting them to leads for you while you are sleeping (or busy running your business).
We hear many small businesses ask: yeah, but how many people are really searching online for [insert your product or service here]?
Do your research. Odds are that more people are searching than you think! Find a tool such as Google Keyword Planner and type in the name of your product or service. This will give you an idea of how many monthly searches there are for this specific term.
Now think of all the products you offer or services you perform, as well as the different ways people talk about them. This will give you a long list of key terms and phrases people are using in the search bar on Google or Yahoo or Bing. These “keyword” analytics will give you an idea of just how many people are really searching - and you can use this number to get an idea of what your market share really is.
Once you have made the decision on what key terms to focus on, it’s now time to start an Inbound Marketing strategy. Consider which key terms you want to rank for in the search engines and begin to create website content that speaks to people’s needs, answer their questions and provide relevant content, products and services for them.
For more information on creating a focused internet marketing strategy download our eBook “Essentials of Internet Marketing” and find out how you can increase passion and provision in your business, and increase your share of the market with a focused small business marketing strategy.
If all of this is a bit overwhelming and you want some help, or you just don't have the time but need results, have you considered partnering with an agency to help you build a focused online strategy? If you are interested, contact us today for a free internet strategy evaluation today.