It's prevalent for two competing brands to advertise on the same channel, which may seem counterproductive. However, there is a strategy that works behind this approach, making it worth undertaking for most businesses.
If you’re wondering, "Should I be advertising against my competition?" Well, the short answer is yes. Here we'll discuss why you should use competitive advertising strategies to your advantage.
Go Head-to-Head on Your Competition's Channels
This strategy might appear to be more challenging, but it can yield good results when properly implemented. You shouldn't be afraid to advertise on the same stations as your competition.
You can benefit from this strategy by taking the right approach from the outset. To start with, analyze the competition and pinpoint any flaws or weaknesses in their current strategy. With these in mind, you can find your upper hand and subtly stack your strengths against competitors' weaknesses. Then, as you hone your strengths and determine what differentiates you from the competition, you can position yourself above them and attract competitors' audiences.
How to Advertise on Your Adversary's Digital Channels
You'll be able to locate and attract your competitor's audience if they are also your ideal customers. Before increasing your visibility on digital platforms, make sure you truly know where your audience spends their time. Otherwise, you may waste marketing funds by targeting audiences who don't care about your brand and offerings.
If your competitor has a similar audience, you will end up on the same channels as them—it's almost inevitable. A competitor's audience may already be in the market for a product like yours. In turn, you can target your competitor's audience with social media, among other platforms. You could find audiences with Facebook ads based on their interests and demographics, for example. You could also place ads on Twitter and LinkedIn.
You should also consider harnessing the power of competitive video ads. On YouTube, for instance, your ads could appear on a competitor's video, appealing to the same audiences who originally came to see that video. If your ad is compelling enough, you may be able to steer those audiences away from that competitor. You could then lead them to your own YouTube channel to build a loyal following.
There are plenty of ways to get creative with your ads to steal your competitors' thunder. As long as you target audiences who are likely to be interested in you, you'll be able to increase brand awareness and gain an edge.
Stay Ahead of Competitors with Your Own Strategies
It's essential to keep in mind that competition is a natural part of business, but a solid brand can help you stand out among competitors without a fight. One key step to take is to be shrewd with your pricing and tempt customers with great offerings at a lower cost.
You should also position yourself as a company that provides exceptional customer service. If people have questions or concerns about your offerings, dependable service can go a long way in building your reputation. With a combination of high-quality products and services, outstanding customer experiences, you'll have no trouble differentiating yourself.
At the same time, you should pivot with ever-changing marketing strategies that keep up with the world's changes. Marketing is constantly evolving and making new demands of businesses, which means that staying informed with industry knowledge can ensure you stay ahead.
As less savvy competitors stick to old marketing methodologies, you'll gain the upper hand as you remain visible among your audiences. With regularly updated SEO and PPC, content marketing, social media advertising, and other strategies, you'll never have to worry about falling behind.
Show What Makes Your Brand Superior When Sharing Platforms with Competitors
Don't be timid about advertising on the same platforms as your competitors. You'll have the chance to disrupt the competition by developing the right strategies. By pinpointing your opponents' weaknesses and highlighting your business's strengths, you can stay ahead. If you can keep your business's marketing efforts at their peak, you'll further be able to leave competitors in the dust. Over time, as you attract your audience's attention and hold it, you can show them why you're worth their business.
Even if competitors seem miles ahead of you at the start, don't be discouraged. With diligence and well-developed strategies, your business can wind up on top in the end.