How to use a small marketing budget to compete with bigger competitors
We had a lost puppy show up in the neighborhood this week. He was supposed to sleep in a garage, but the little rascal got out. In fact, he was able to outsmart me and 3 other adults to get in a few homes.
This goes to show it’s not your size that counts but how resourceful you are.
But is it possible to compete with bigger competitors if you have a small marketing budget?
The answer is YES.
But only if you understand the major weaknesses of the competition. Most people think going head-to-head is the right answer.
Business is war.
Think about this quote from Sun Tzu.
“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.”
In my experience, big marketing budgets have a lot of waste. Media buyers get sloppy.
Here is my game plan for finding holes in their marketing strategy.
Step 1 – Look for where they are spending money and why.
PPC ad? Use SpyFu to see which ads have been running the longest.
Facebook ad? Use the transparency tool to see which ads have been running and what angles they use.
Step 2 – Visit their site and see what retargeting ads they are running.
Step 3 – Abandon the shopping cart and see what ads they start showing.
Step 4 – Look at the abandoned cart win-back emails and the time delay and frequency.
Once you have done your research, the next step is to analyze the copy angles and see what hot buttons they push.
Before you can beat them, you have to know what they are doing. Watch out for tomorrow’s email where I explain the next steps.
P.S. Want a power-hour with me to chat about your marketing?
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