Internet Marketing Strategy

Are You Playing Offense or Defense in your Internet Marketing Strategy?

by Lynn Terry © 2004
Exclusive Article - Do not Reprint

Setting up shop on the internet is quite different than a brick and mortar business in many ways. One of the most prominent differences is in marketing strategies, and specifically in how you define the word "competition".

Traditionally, you would not consider asking the 'shop around the corner' - your #1 competitor - to join forces with you in a joint marketing campaign. In fact, you would probably spend the majority of your spare time figuring out ways to 'out-do' them.

Fortunately, I had absolutely no experience or education in 'Marketing' when I started my first offline business - an electronic repair shop - over seven years ago. I was young, naïve and full of ambition. My very first marketing tactic was to contact every single competitor and offer our services as "overflow work" for their established businesses.

Surprisingly, it worked... and was the foundation for our success. Not only did the majority of our competitors happily outsource contract work to us, but as we began to expand and add services... they also sent referrals (retail clients) our way. This only added value to their own business, as they were able to satisfy a client's needs by sending them to a trusted source. We, in turn, did the same.

I use this same model in my Internet Business marketing strategy as well. Internet Marketing and Web Development are both extremely competitive (cut throat) industries on the internet, with hundreds of thousands of people struggling to make it to the very top in the least amount of time possible. It would be very easy for someone to arrive on this scene, see the potential, and then immediately come down with a case of "Competition Paralysis" that stops them dead in their tracks.

It can be said for many industries, I'm sure, and I've heard the comment time and again: "I had such a great idea, but then I did a search on it and found 16 million other websites with the same great idea!".

Step back for a moment and determine your USP - Unique Selling Position. What is it that will (or does) set you apart from the rest? How are you (or what you offer) unique? Consider how you might become successful in a specific niche within your chosen industry... a smaller, but richly profitable, "piece of the pie".

While I am a huge advocate for market research, and competition analysis, I do not believe you should waste one second of your energy *worrying* about your "competition". Once you choose a business model, based on thorough research, and begin to implement your business plan, focus ALL of your energy on becoming successful - period.

Working WITH your "competitors" will actually allow you to position yourself in your industry much quicker than working against them. I prefer to consider them "peers" rather than "competitors". Using the term "peers" will open your mind to see similar business owners in a whole new light ;)

I encourage you to get to know the people in your industry - with an open mind. Make friends, build relationships, and explore ways that you might work together for mutual benefit.

One of the easiest ways to accomplish this online is to join topic-specific discussion forums. This will give you an opportunity to both learn and share information, and to get to know the leaders in your industry.

Obviously I would not share all of my guarded secrets with my #1 competitor in the Web Design field. But I *would* position myself with others in my industry, such as: SEO Experts, Programmers, Copywriters, etc. While each of them also has the ability and the talent to design a website, it is not their main focus - or their niche.

Likewise, if you are in the Gift Basket industry, you would not necessarily swap recommendations with someone who designs similar products. However, others in the 'gift' business, such as: Wine Merchants, Candy Makers and Gift Card Designers have much to offer you, and vice versa! Imagine how this might work for you in *your* industry.

Consider the ways that you can position yourself among your peers for mutual benefit. The relationships that you build, and the friends that you make, will strengthen your business foundation and secure you for long-term SUCCESS.

Lynn Terry, Self-Starters Weekly Tips
http://www.SelfStartersWeeklyTips.com
Learn the difference between websites that COST
you money and websites that MAKE you money!