Often, entrepreneurs and marketers are looking for cases on the business they promote.
It’s like copying a successful experience — “My friends (competitors) gave this kind of advertising, they had it effective, I will do the same.”
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This approach will not work in some cases.
Why?! – You ask?
From the case, you see only an advertising strategy that brought some results.However, you do not see how the sales system as a whole is built.
- No two business models are exactly the same.
- From the case, you see only an advertising strategy that brought some results.
For example, you sell high-end furniture from Italy through catalogues. Your competitor, too, and you both have downtown showrooms and similar online stores.
Only you have a designer who comes home to a client and designs a future interior design, plus you have a furniture fitting service.
And your competitor is just waiting for the visitor to place an order through the site.
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That way, you can afford to work for a wider audience, because you’re pretty sure that if a customer is willing to buy luxury furniture at your price point, your designer is going to close it down by 98%.
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And your competitor will have to work only on the generated demand, and if his supply is worse than the others — there is no furniture available, you need to drive from Italy, etc. — he is likely to lose even those who have already left an order on his website.
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Even if you assume that the business is exactly the same, there’s always a difference in your advertising budget, and that has a huge impact on how and where you advertise.
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Bottom line: you don’t need to look for niche cases, you need to analyze your product/service, study how your target audience buys your product, and based on these findings, select advertising tools that will help you reach your target audience.