Companies are finding it difficult to gain a competitive edge in today’s vast landscape of e-commerce and brick and mortar businesses. Even with phenomenal products and services, maintaining a strong foothold is a tough goal to achieve.
What Is a Saturated Market?
A saturated market is formed when your potential customers already have access to the product or service you are selling. Because of this, there is a smaller chance you will be able to generate high levels of revenue.
Finding a Way to Make Your Brand Stand Out
There are numerous ways to make your company stand out from the competition:
Incorporate Storytelling Into Your Marketing Agenda
Establishing an emotional connection with your audience is crucial to any marketing agenda.
Storytelling is an effective marketing method you can use to build an emotional attachment. The idea is to use your content as a bridge to the heart of your buyers. It’s your job to showcase how you can make your customers’ lives better, and it starts with telling a story.
92% of consumers prefer companies to market to them via a story format. This means you must produce content that’s not only linear but that highlights a story that resonates with your audience.
Telling a story activates a part of the brain that allows your audience to turn the content into a story of their own. It makes them feel as if they are experiencing what you are expressing. This all takes place thanks to neural coupling.
Storytelling also causes the brain to release a chemical called dopamine, which causes your audience to find great pleasure in what they’re hearing. This initiates positive brand recall. When they think of your brand, they think to themselves, “this is a company I want to purchase from.”
Integrate Video Creation
Video creation delivers an effective way to engage your audience, and it differentiates you from the competition.
There’s no denying that video is the future of content marketing. Why is it, then, that so many businesses have failed to jump on the social media video bandwagon?
50% of the human brain is wired to take in visual content. Did you know adding the word video to an email subject line can increase open rates by as much as 19%? Even more mind-boggling is that clickthrough rates are increased by 65% in emails with a video. Consumers highly prefer marketing material to come in a video format. In fact, when compared to reading information about a product, 4x as many consumers want to watch a video about it.
One of the most notable aspects about video creation is that it can be incorporated into all aspects of your marketing agenda. From your social media profiles to your website and even your blog, you can include a video within posts to create an emotional connection with your audience.
Create Personalized Messages
Creating personalized messages extends way beyond adding a customer’s first name to the beginning of an email.
True marketing is all about engaging your customers based on where they are at in the buyer’s journey. If you have a potential customer who is already in the decision stage of the buyer journey, you don’t want to annoy them with emails stuffed full of explainer videos.
In order to pinpoint where each person is in the buyer journey, you’ll need to harness the power of analytics and tracking software. Various places to pull valuable customer data from include:
- ERP systems
- Shopping carts
- Order management software
- Call center networks
33% of marketers are making personalization a top priority. 74% of them agree personalization greatly increases customer engagement and helps fuel revenue levels. And with only 39% of online retailers actually taking advantage of personalized messaging, this means you have a prime opportunity to gain a competitive edge.
This one statistic alone from Experian proves you need to start collaborating with your marketing team to create personalized email messages — personalized emails produce transaction rates that are six times higher than transactions without personalization.
Storytelling, video creation, and creating personalized messages are essential to all of your marketing campaigns. When integrated correctly, they can increase audience engagement and boost revenue levels by building an emotional pathway to the heart of a buyer’s purchasing decision.