If you are new to internet marketing, dozens of terms that are unknown. One of the most crucial terms is proprietary resources. These resources include websites, social media feeds, and map listings. Your brand belongs to you and it must be carefully cultivated. Any hesitation on your part equals control that your competitors will have over your message. They can control your reviews, social media and any information about your business on the web. When you do not participate in the internet, your brand suffers. Even if you have commercials and radio spots blasting on every station, warm leads are more likely to search the web than anywhere else.
The internet cannot be avoided. Even if traditional outbound marketing has served you well for decades, it is time to focus on inbound marketing. The concern here is market share which in simplified terms means the percentage of business your product or service garners over other companies over a specific time period. Coca-Cola has the market share of soft drinks over a seven-year period. Number wise Coke has 42% over the market share while Pepsi only has 28%. They have been battling it out for over a century and will continue to do so for decades to come.
Now in the cola wars, each has to stay on top of their brand or risk losing to their competitor. Coke spends more on marketing while Pepsi has to use defensive measures in their marketing. Pepsi targets younger customers while Coke utilizes options such as being in theme parks and hotels. The key is they own everything related to their brands from websites to social media feeds. Without it, the competition loses its edge and appeal.
Up your competitive edge by owning all potential resources.