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Public Relations · Published September 12, 2016

Leigh Ann Ambrosi
Managing Partner & EVP, Consumer Lifestyle

One Step Ahead: Keeping Your Brand Ahead of the Competition

staying ahead of the competition with 5w public relations marketing trends
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Staying ahead in today’s market requires a proactive, rather than a reactive approach to business. Companies cannot merely watch and wait to see what happens, and then plan a course of action. Businesses need to pay attention to market trends and try to capitalize on the most likely turn of events before it happens; like the man who buys umbrellas on an overcast day and then sells them to passersby when it begins to rain. But how does a company do this? Check out our recommendations below.

Research the Competition

Brands like to believe they are already doing everything right and  the best way possible. However, there is much to learn from the competition. After all, how can anyone compete with another entity without knowing what they offer and what is different about them? Brands should look at how competitors market their products, and what their compensation packages are like. But most importantly, brands should pay attention to everything the competition does wrong, or not well enough, and try to improve upon that. Customers will notice.

Know your Customers

Some successful businesses began with products that initially had no customers and no demand, like Bill Gates and his computers. He merely assumed that one day people would buy his product, and they did. This is the way of innovation. However, even in this scenario, Bill Gates knew his potential customers and what to expect. That’s how he was able to create demand. Blackberry was not as in tune with customer desires after they made it to the top of their industry, and lost its lead position in the market. Brands should do their best to understand customers. Learn about their demographics, their preferences, and where they might end up a few years from now. Prepare to meet them with products they want at that time. Know how to interact with them on social media, how to encourage engagement, and how to resolve problems as soon as possible.

Invest and Reinvest

Many companies are hindered by the need to pay profits to shareholders, reducing the amount of money left over for reinvesting. For companies who have the opportunity, they should reinvest profits in bonuses for employees and other perks, like an onsite clinic, or onsite gym. Companies should also invest in marketing, public relations, research and development, and hiring influencers who take the business to the next level.

Use Data Analytics

Many companies have some idea of goals they wish to achieve. However, no company can truly measure future success if it remains ignorant to current failures. The business must study and analyze areas like sales, customer satisfaction, and online engagement, before moving forward with any goals. To do this, successful brands use data analytics covering sales and inventory, expenditures, revenues, employee productivity, online reputation, and other key symbols of success. Staying ahead of the competition is a tricky task since they are also trying to stay ahead of you. However, companies who take proactive approaches to business, and do their homework, are far more poised to leave their competitors behind in the dust.  
Leigh Ann Ambrosi

Written by

Leigh Ann Ambrosi

"> Leigh Ann Ambrosi leads the Consumer Lifestyle division at 5W. With over 25 years of experience, she is a seasoned expert in brand development, publicity, and media relations. Whether shaping strategy, restructuring workflow, handling multiple clients or managing budgets big or small, she effects change with a constant eye towards producing results. Prior to joining the 5W team, Leigh Ann was Executive Vice President, and Chief Administrative Officer at Magrino Public Relations for over nine years. While at Magrino, she oversaw the Consumer and Food, Wine, & Spirits divisions, and managed the operations of the agency. She was responsible for signing new clients, strengthening existing client relationships and programs, and providing oversight for brands including Martha Stewart, Hunter Douglas, SCOUT, The Ranch, Vaughan, Flybird Cocktails, and Horse Soldier Bourbon, among others. Her passion for her work is paramount, which positions her as a strong mentor to junior staff, inspiring them to a higher level of performance. One of her many accomplishments previous to her agency work include a career in book publishing publicity and marketing, where she created multi-platform marketing campaigns that encompassed advertising, events, social media, buzz marketing stunts, publicity, brand building, and strategic partnerships. During her tenure in publishing, she helped to build the brands for authors including Mario Batali, Deepak Chopra, Jillian Michaels, Tyler Florence, Haylie Pomroy and more. Leigh Ann holds a degree in Mass Communications, with a minor in Journalism, from the University of Massachusetts, Amherst. She lives with her two kids in Maplewood, NJ

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Tags

  • pr strategy
  • 5wpr
  • branding
  • Public Relations

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