internet marketing channels refer to

internet marketing channels refer to

A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, without a sound strategic foundation, it is of little use to a business.

see more at wikipedia

Check More at http://isthe.be/st.Periscope.P.Free

Changing On-Page Behavior with Sticky Navigation and Data-Driven Design

As an optimizer, there’s nothing that excites me more than using design to change on-page behavior. By “change”, I mean to positively influence visitors to achieve their (and your) goals more effectively, and sticky navigation is a great way to increase your odds of driving behavioral change.

.single-post .card-system-page.section-lib-post.container .lib-container {max-width: none; width: 100%;}
.single-product-marketing .card-system-page.section-lib-post.container .card-system-sidebar {display: none;}
hr {margin:70px auto 80px auto !important;}
a img {cursor: pointer !important;}
.ub-emb-iframe-wrapper .ub-emb-close {visibility: hidden;}
.exampleTitle {padding:20px 5% 20px 9% !important;margin-top:50px !important;}
pre {font-size:12px !important; font-family: Consolas, Menlo, Monaco, Lucida Console, Liberation Mono, DejaVu Sans Mono, Bitstream Vera Sans Mono, Courier New, monospace, serif; margin-bottom: 10px; overflow: auto; width: auto; padding: 5px; background-color: #eee; width: 750px!ie7; padding-bottom: 20px!ie7; max-height: 400px;}
.single-product-marketing .navbar-static-top.navbar-default .navbar-collapse.navbar-menu.fixed {position: relative !important;}
.navbar-static-top.navbar-default.navbar {position: relative !important;}

The best way I know to design experiences that change on-page behavior is to use my Data-Driven Design (3D) framework to gather and observe available data, and use the Micro Metrics Method (3M) to guide design exploration.

This is what I’ll be showing you today by using sticky navigation on a long landing page and also on this blog post.

It’ll help you move around the content while secretly showing you the cool things you can do with Unbounce 😉


What is Data-Driven Design? (3D)

Data-Driven Design is an 8-step collaborative optimization process designed to help your marketing team work together to increase conversions, but more importantly, to develop empathy for your customers and your coworkers. It begins with The 3D Playbook, which is an interactive lookup table that helps narrow down the data types you should be looking at when trying to optimize your landing pages, websites, and more.

It looks like the screenshot below, and you can check it out at this link. The process for using it needs more explanation that I can give in this post, but I am doing a webinar at Marketing Optimization Week where I’ll cover it in depth.

One of the most important steps in the process is taking the observations we make looking at data (analytics, heatmaps, usability tests etc.), and working as a team to design solutions to each of the problems you observe. Measuring the impact that these design changes have is called the Micro Metric Method (3M).


What is the Micro Metrics Method? (3M)

When you make observations as a team (I recommend you include a designer, copywriter, and marketer), not only are the solutions better, but the collaborative nature helps with team/client/executive buy-in for the changes you’ll propose. You can see a session I ran recently below. We watched usability test videos and took notes about the observations we were making in a shared doc that is created for you as part of the 3D Playbook (when you choose a page element from the menu it will create a series of worksheets for you and your team – the instructions on the first page of the sheet explain how).

A marketing team following the Data-Driven Design process

A definition of micro metrics

A completed worksheet with observations, severity ratings, and those assigned as micro metrics

The design solution sketches the team came up with to solve the problems identified by the micro metrics


I’m actually giving my Data-Driven Design for Marketing Teams talk for Marketing Optimization Week, so you should definitely register for that and I’ll run you through the whole process. MOW is a 4-day event from Feb 20-23 and I’m on the last day.

How to Use Sticky Navigation to Change On-Page Behavior

I’ve set up a demo page that shows a long landing page with a sticky nav that I created using an Unbounce Sticky Bar with some CSS to hide the close button. The goal of sticky navigation is to increase the level of engagement with your page by presenting persistent options that explain what’s available on the page.

I really love this approach to landing page design, where it’s standard – and recommended – to not have navigation (that takes you away from the page). In particular, it’s great because it’s persistent. It scrolls with you so the opportunity for behaviorally interesting clicks doesn’t go away. What I mean by that is that there’s so much more data to collect when the navigation follows you down the page. When it’s fixed to the top of the page, you have very few opportunities beyond the very first click, to get a sense of which items trigger intent.

According to The 3D Playbook, for sticky navigation, we should first look at heatmap data and the click-through rate of each navigation link, as well as the primary call to action you have on your page.

In the Unbounce app, I used a sticky bar to create a navigation bar, assigning each link to the ID of a page element on the landing page that it would reside on.

Below is a screenshot of the sticky nav that shows up on every post of Product Awareness Month (except this one and one other where I’m demoing sticky bars). I’ll be sharing the data I collected from this, and a gazillion other data sources, in the end of month results show.

Sticky nav helps increase engagement with your content, bringing people further down the page to sections they may otherwise not see, and almost as importantly, it lets you measure what people ate interested in.

DEMO: How to Use Sticky Navigation to Increase Blog Engagement

You can click here to show a sticky nav on this blog post. I’ve set it up so that the nav links connect to different “chapters” of the post. It’s a great way to direct your readers, and also to gather valuable engagement data by looking at click heatmaps and analytics.

It’s very easy in Unbounce to duplicate a Sticky Bar and apply it to another page! Huzzah! Product awareness in action. Remember to click here to show the sticky nav.

Notice the CSS ID shown for the click target in the screenshot below (it says URL: “#register-for-mow”). This makes the nav link jump to the corresponding section of the blog post that I set up by adding an ID to a page element.

Sticky Nav in Unbounce: links to #register-for-mow

#register-for-mow as a target ID in the blog post

Do me a favour and click on the nav so I get some heat map data. It won’t be legitimate as I’m asking you to do it, but hey, shits and giggles amiright?

This post wandered a bit into a few directions, but I hope you got a sense for how I like to think about optimization, why sticky nav is awesome, and why we need more collaborative frameworks like Data-Driven Design.

Cheers
Oli


p.s. Register for Marketing Optimization Week to see 4 days of the most badass content including my Data-Driven Design framework, plus Larry Kim from Mobile Monkey, Dana DiTomaso form KickPoint, Purna Virji from Microsoft, David Gerhardt from Drift, and many more.

Kaala Patthar

When disaster strikes – three men stand up to fight for justice for the coal miners who risk their lives as part and parcel of their existence. Vijay (Amitabh Bachchan) …

The post Kaala Patthar appeared first on Newline Marketing.

How I Recruited 19 People In 30 Days Into My Business 🔥

[youtube https://www.youtube.com/watch?v=q3WbTKBOYto&w=640&h=360]

Alibaba’s New Source Now Tool Gives Small Retailers a New Edge When Finding Merchandise

Alibaba Source Now Tool Makes Finding Products Easier for RetailersAlibaba.com (NYSE: BABA), the largest B2B trading platform in the world, has just introduced Source Now, an innovative sourcing tool that can help level the playing field for small retailers — and ecommerce businesses.

Your larger competitors have long had a buying advantage on you, with their bigger budgets (for travel and attending trade shows), experienced buying teams and global network.

A Peek at Alibaba Source Now

But using Source Now, enables you to source products with a few click strokes on your computer. Right now, Source Now only works using Google’s Chrome browser extension, but expansion to more browsers and mobile apps are planned for the near future.

Finding merchandise to sell in your stores or online is literally as simple as taking a picture. It’s a quick four-step process:

  1. Download and install the free Source Now extension from Google Play or the Apple App Store. (If you don’t have Google Chrome, you need to install that as well — it’s also free.)
  2. Shop the web, checking out department store and other ecommerce websites, social media, online videos — any website that has images of products you’re interested in selling.
  3. Once you find something you like, you click on the Source Now extension to capture the image — and hundreds of similar products offered on the Alibaba.com website will pop up — instantly.
  4. You can compare the different suppliers selling the items, contact them and start ordering your merchandise.

Small retailers are always on the hunt for tools that save time and make them more efficient and productive. As I played around with Source Now, I was amazed at how fast it found my wish list of products, including sneakers, tote bags and even a dining room table. It’s so quick — you see it, save it and source it — it’s really that simple.

Source Now has other benefits for small retailers:

  • If you’re not already doing business with overseas suppliers, it’s a great way to meet those who produce exactly the types of items you want to sell.
  • It helps you stay current. If you sell fashion accessories, for example, you can quickly find suppliers for the trendiest goods, and start selling them yourself before the craze fizzles.
  • It makes it easier to communicate with overseas suppliers and manufacturers, without struggling to come up with just the “right words” to describe the products you’re looking for. All you need to do is capture the image, using Source Now, and you’ll find the sources of those goods.
  • Source Now can also be used to source business equipment (computers, phones, cash registers, etc.), business signage and more.

Image: Alibaba

This article, “Alibaba’s New Source Now Tool Gives Small Retailers a New Edge When Finding Merchandise” was first published on Small Business Trends

How to Increase Sales Conversions with Retargeting Strategies

Everyone wants more sales.

Regardless of your industry or current situation of your company, increased conversions will help your business grow and prosper.

But wanting higher sales conversions and actually getting them are two different things.

Sure, your advertising team probably has various content marketing strategies in place.

It’s important you have a proper grasp of the reasons behind these tactics.

Are the advertisements targeting an actionable audience?

That’s one of the major differences between retargeting strategies and other promotional methods.

Here’s the thing.

Not every customer takes a simple path to complete the purchase.

It’s not always as simple as someone viewing your website for the first time, becoming interested in your brand, and buying something during the same visit.

While that would be a great scenario, the reality is this process takes time.

Creating a customer journey map can help give you a better understanding of how the buying process works.

Here’s a visual representation of how consumers interact with a brand before, during, and after they make a purchase:

image3 3

Take a look at all those touch point examples in the awareness and consideration stages.

It shows that the buying process isn’t a straight line.

A consumer may stumble upon your website one day, browse it a bit, and leave.

Maybe a month or two later, they read one of your blog posts and subscribe to your email list.

They could even pick up the phone and contact a member of your sales team to ask some questions about your products and services.

Still, it may take this person another few weeks or so to finally buy something.

As a marketer, you need to anticipate this behavior and aid buyers through this unconventional process.

One of the best ways to do this is through retargeting ads.

I’ll explain everything you need to know about retargeting so you can increase sales conversions for your company.

Make sure your retargeting strategies have a goal

First, I want to cover the basics.

Retargeting ads are designed for people who have already visited your website.

You can also target customers who are in your database from a lead generation campaign.

These ads aren’t as simple as traditional banner ads that target everyone.

There are seven different types of retargeting methods:

image5 3

With so many different ways to approach this marketing tactic, it’s important you have a clear goal in mind.

If you’ve never done this before, I don’t recommend trying to implement all these strategies at the same time.

Pick one and go with it.

Start by targeting people who:

  • have Google searches relevant to your brand
  • consume content that’s the same as that of your current customers
  • had an impression from a custom advertisement on social media
  • visited your website but didn’t make a purchase
  • are on your email list

Knowing whom you’re going to target will make the rest easier.

Now you’ll have a better understanding of where these customers are coming from.

The goal of your retargeting strategy should be to create awareness and increase conversions.

As you saw earlier, people aren’t always ready to buy something the first time they visit your website.

In fact, 92% of consumers aren’t looking to make a purchase the first time they check out a website.

That’s why creating brand awareness needs to be one of your goals.

Even if the consumer has already heard of you and is familiar with your company, you need to keep reminding them about what you can provide.

This will make it much easier to get conversions, which is your primary goal.

Your company may have some other goals as well.

It could be driving customers to specific products, subscriptions, or services.

Just make sure those goals are clearly defined before you start.

That way everyone is on the same page, and it will be easier to measure how successful these campaigns are.

Use pixel-based and list-based retargeting

Pixel-based retargeting is one of the most common ways to execute your plan.

Here’s an example of how Dohop implements this method:

image4 3

Once someone visits your website, a browser cookie is stored to retain that information.

This is how you’re able to find people who have visited your website.

Now you need to get a retargeting platform.

The cookie will notify the platform and provide that consumer with your ads based on what pages they viewed on your website.

Pixel-based retargeting is great because of its timing.

People will start seeing your ads almost right after they’ve left your website.

This keeps your brand fresh in their minds.

But the pixel-based strategy isn’t foolproof.

It’s completely based on cookies from the people visiting your website.

If you’re not getting web traffic in the first place, you won’t have anyone to retarget.

List-based retargeting focuses on people who are already in your database.

It’s not as common as pixel-based, but it definitely has plenty of benefits.

You can even focus on your existing customers.

Segment these people into different groups to make your advertisements more relevant to them.

I’ll go into greater detail about your current customers and list segmentation shortly.

As I said before, for pixel-based retargeting to work, you’ll need a platform to communicate with those web cookies you acquire after someone visits your site.

Some of the top options to consider are:

These are some of the benefits you get from Perfect Audience:

image7 3

Check out these websites to see which one best fits the needs of your company.

But for the most part, you’ll notice a lot of similarities between different platforms.

Update your ads

One of the biggest mistakes I see companies make is running the same retargeting ads over and over again.

Your campaigns aren’t going to convert 100% of the time.

It just won’t happen.

Here’s something else to keep in mind.

Consumers aren’t stupid. They don’t think it’s a coincidence they are seeing these ads right after visiting your website.

So, switch it up.

If your current ad isn’t getting someone to convert after they’ve been exposed to it for a few weeks, you’ll need to run another one.

Here’s an example.

Take a look at this retargeting ad from Freshdesk:

image1 3

It’s simple and has a clear goal.

Look at the CTA button.

They are trying to entice the customer to download something they offer.

This could be targeted toward people who visited a specific landing page on their website.

This ad is corresponding to a browsing cookie for that page.

But what happens after someone sees this ad for a few weeks without converting?

Will it eventually work if you keep showing it to them for another few weeks?

Probably not.

They’ve seen it. And for one reason or another, they’re not interested.

Freshdesk recognizes this, so they switch it up.

image2 3

There are major differences between this ad and the first one above.

Rather than getting the customer to download something, they are trying to encourage them to sign up for a free trial of their software.

Offering something different can potentially increase the chances of getting a conversion.

You should also A/B test your ads.

In the example above, Freshdesk could move their CTA button or change its color to test which version will deliver higher conversions.

But the key here is to make sure your ads don’t get stale.

A/B testing will also help ensure your conversion funnel is optimized.

Create customized landing pages

When a customer clicks on one of your ads, it shouldn’t bring them to the homepage of your website.

That’s ineffective.

Instead, make sure you send them to a landing page directly connected to the ad they clicked on.

Here’s an example of an ad I saw on Facebook:

image8 2

It’s obvious this post is directed towards men.

The title of the page says men, and the models are wearing men’s clothing.

But if you go to the Lululemon homepage, it’s primarily directed toward women.

image9 2

Sending customers here would be ineffective for that Facebook campaign.

Lululemon recognizes this, so they don’t do it.

Instead, the Facebook ad goes to a customized landing page designed for men.

Here’s what happened when I clicked on the retargeting ad:

image10 2

This page speaks to me more than the home page.

It’s also directly related to the Facebook ad.

They are promoting discounted men’s clothing.

Apply this concept to your retargeting strategy.

If you’re pitching a specific product or service, make sure the landing page matches the ad.

When customers have to search your website to find what they are looking for, it will negatively impact your sales conversions.

Focus on your existing customers

Retargeting campaigns don’t need to draw attention to only new customers.

I’ve said it before: you can increase revenue without acquiring new customers.

This is the perfect opportunity for you to reach out to email subscribers who haven’t been active in a while.

As I hinted at earlier, that’s why you need to segment your email lists.

Segment your subscribers based on their interests and activity.

Send them retargeted emails based on their previous purchases or browsing history you’ve collected through their customer profile.

The benefit of retargeting your current or old customers is that they have another level of familiarity with your brand.

They know more about your company than the people who have visited your website but never bought anything.

You can also try to cross-sell or upsell to these customers.

Here’s a great example of an ad I saw from American Express:

image6 3

I’m already an Amex member and have one of their credit cards.

But they are trying to pitch a new card to me.

Rather than getting a new customer, it’s easy for them to retarget me by offering a card I don’t have.

If this doesn’t work, a month or so from now, I could potentially see a different ad offering another card I don’t have.

Conclusion

The audience and target market for your advertisements should be ready to act.

That’s why retargeting campaigns are so effective.

You focus on people already familiar with your brand and interested in buying something.

If you use pixel-based retargeting strategies, you’ll be focusing on website visitors who didn’t convert.

Increased website traffic doesn’t necessarily lead to sales conversions.

That’s why your retargeting campaigns shouldn’t be aimed at just anyone.

Have a clear goal for your campaign.

Make sure you find the right software and service to help your website utilize cookie information left by the visitors looking for a product or service.

If a retargeting ad doesn’t convert, don’t give up on that customer yet.

Just switch it up after a few weeks with a different offer.

When someone clicks on your ad, make sure it doesn’t bring them to your homepage.

Instead, have customized landing pages for each ad.

If you follow these tips, you’ll be able to increase sales conversions through retargeting strategies.

Will you focus on pixel-based or list-based retargeting first?

How to Stop Making Excuses. (It's Not What You Think It Is.)

What if your excuses are a symptom, not a cause, of your failing to achieving your goals?

internet marketing jobs dallas tx

Many terms are used in the marketing field.
AIDA (marketing)
Arrow information paradox
Article marketing
Article video marketing
Attack marketing
Bargain bin
Business-to-business
Business-to-consumer
Business-to-government
Cause marketing
Channel Value Proposition
Consumption audience
Copy testing
Cost per conversion
Customer lifetime value
Customer relationship management
Decision making unit
Disintermediation
Double jeopardy (marketing)
Double loop marketing
Emotional Branding
Engagement (marketing)
Facelift (product)
Fallacy of quoting out of context
Fine print
Flighting (advertising)
Growth Hacking
Heavy-up
Inbound marketing
Inseparability
Intangibility
Integrated marketing communications
Internet Marketing Conference
Investomer
Low-end market
Marketing Analytics
Marketing communications
Marketing experimentation
Marketing exposure
Marketing information system
Marketing mix for product software
Marketing operations
Marketing speak
Megamarketing
Name program
Nano-campaigning
Nascent market
Next-best-action marketing
Nielsen ratings
Out-of-box experience
Perishability
Permission marketing
Price Analysis
Product lifecycle
Product lifecycle management
Promoter (entertainment)
Q Score
Relational goods
Representative office
Response rate ratio
Return on event
Return on investment
ROI – Return on Investment
Rural marketing
SEO – search engine optimization
Share of Wallet
Soft launch
Solutions Marketing
Square inch analysis
Sweeps period
Top of mind awareness
Visual merchandising
Warm market
White label

see more at wikipedia

Check More at http://isthe.be/st.Periscope.P.Free

internet marketing jobs dallas tx

Marketing communications (MC, marcom, marcomm) uses different marketing channels and tools in combination: Marketing communication channels focuses on any way a business communicates a message to its desired market, or the market in general. A marketing communication tool can be anything from: advertising, personal selling, direct marketing, sponsorship, communication, promotion and public relations.
MC are made up of the marketing mix which is made up of the 4P’s: Price, Promotion, Place and Product, for a business selling goods, and made up of the 7P’s: Price, Promotion, Place, Product, People, Physical evidence and Process, for a service based business.

see more at wikipedia

Check More at http://etrafficlane.com/wpspin

Competitive Advantages Aren’t Enough. Your Business Needs a Moat.

Moats are ditches of water that surround castles. They’re the first-line of defense against intruders.

Legendary investor Warren Buffett suggests you look at your business in a similar way. Your business is the castle, and the moat is what protects your business from competitors. Some refer to this moat as a competitive advantage.

The moat of a 14th-century castle

Successful companies have moats that protect them from competitors. Their moat can be a technological advantage, a real estate advantage, pricing advantage, and intellectual property.

Here’s why moats matter, and why every successful company needs one.

Background on Moats

“The most important thing to me is figuring out how big a moat there is around the business. What I love, of course, is a big castle and a big moat with piranhas and crocodiles.” ― Warren Buffett

Warren Buffett was the first to refer to a competitive advantage as a moat. Here’s a video of him explaining moats back in 1998 at a speech at the University of Florida:

[youtube https://www.youtube.com/watch?v=8Av8nyhH9lY?wmode=transparent&modestbranding=1&autohide=1&showinfo=0&rel=0]

Now that we understand moats, let’s look at the common types of moats. We’ll then get into examples of companies with wide moats, and how entrepreneurs can ensure they’re building a moat for their business.

Types of Moats

Moats can vary in every industry, but let’s look at some common ones that cross industries:

Price

Offering discounts isn’t a moat. Being able to offer a lower price over a long period of time while at the same time offering similar service to competitors is a moat.

A prime example of this would be Geico insurance company. Everyone needs insurance, and Geico is able to offer lower price than competitors. And customers don’t have to sacrifice service in order to save, either.

Most realtors charge a 6% commission fee for selling your house. So what does Redfin do? They cut those fees down to 4%, which means that the seller makes thousands more when they sell with Redfin.

The only way another realtor can compete is by significantly cutting their fees and accepting less money. And are they really going to do that after keeping their fees at 6% for years? Probably not, unless they’re forced to.

Redfin’s moat is their lower fees, which attract home sellers to use them over a traditional brokerage.

Another company with pricing advantage is Walmart. Amazon and E-Commerce may be growing, but Walmart is still the king of retail (which is not dead).

One of the biggest criticisms of Walmart (which is ironically also its strength) is that they put their big-box stores in small towns, and undercut local stores using predatory pricing, and drive those established, local stores out of business.

This headline from Salon highlights many people’s criticisms with the retail giant.

It’s that strategy of being able to consistently undercut competitor prices (even in suburban communities) that drive Walmart’s success and is their deepest moat. If Walmart raised prices on all the products they’d sell, their revenue would plummet and they would lose market share to their competitors.

Technology

Exclusive technology can encourage customers to use your product over any other. And it doesn’t have to be anything groundbreaking. It can be the sum of many features all rolled into one.

Salesforce CRM has a lot of features. You can do a lot with the product – both sales and marketing teams can get a lot of use out of it. The development cost of this is steep for other competitors looking to disrupt the commanding market share that Salesforce owns. This technology, combined with high switching costs makes for high retention rates and strong recurring revenue growth.

Apple has created a moat with their products. A feature like Messages automatically syncs with your iPhone and you can send and receive text messages through your computer. I’ve personally become so used to it that it makes it cumbersome to go back to texting on my iPhone. This feature, combined with dozens of others, is why someone may choose an iPhone over Android. Apple has done a tremendous job of creating this ecosystem and bridging iOS with macOS.

Google’s algorithm is probably the most high-profile technology advantage that we all know. Their search algorithm, along with their infrastructure, has been built up and refined over the years and competitors simply cannot match it. Creating a new search engine with the goal of more accurate search results would result in failure. So smaller companies that are looking to disrupt Google, such as DuckDuckGo, take advantage over some user concerns with using Google. DuckDuckGo is a privacy-based search engine that capitalizes on the ascension of privacy-related concerns more and more of the public is having.

Their value proposition is simple and effective – The search engine that doesn’t track you.

Socially-driven companies like Ecosia plant trees when users search. They’ve found some niche of the market and used it to their advantage, but ultimately they won’t be able to surpass Google.

Google throws some piranhas in their moat with Android, which has Google search built into every phone. And Google pays Apple a hefy charge to have their search as the default on iOS devices, but it nets them billions more to ensure it’s a profitable deal for Google.

Think about what matters in your industry. Are you in information security? Then a unique technology that no other company has would be the start of a moat – you’ve got the ditches built and a little water, now you need more to add to your moat.

People

The employees can be the sharks that swim around in the moat. Good people make good products. If your company is able to attract and retain the best people, you’ll be adding more to the moat that you already have.

Think of the companies that consistently attract the best people – Google, Apple, Goldman Sachs, etc. These companies are great because of the products and services their employees create, which in turn attracts more great people to work for them. (Because who wouldn’t want to work for a great company that’s surrounded with talented employees?)

Apple has a moat, particularly because of its design, which Marissa Mayer has called the “gold standard”. The design can be credited to the creativity and innovation from Apple’s design team, most notably Jony Ive.

Ive is the design leader at Apple, and has more than 1400 patents in his name. Would it be possible to put a dollar value to the growth that Ive has contributed to Apple? Some may argue that with Jobs’ passing, Ive is Apple’s most valuable asset.

Apple’s most valuable asset?

Patents

There’s a reason why we have patents. They encourage innovation and protect intellectual property. A pharmaceutical company that discovers an effective new drug has a moat protecting that discovery for years.

The new profits from that drug continue for as long as the patent is held, and the company grows its business because of that moat. The only thing that could disrupt the moat is a competitor creating a similar drug, or undercutting prices.

For instance, take a look at the Viagra business for pharmaceutical giant Pfizer. Developing that drug cost a lot of money on Research and Development, and once they discovered it and how effective it was (and the market opportunity), they secured the patent. It’s estimated that Viagra drug has earned Pfizer nearly $1.5 billion in annual sales.

The $1.5 billion money-maker for Pfizer

That moat – being able to spend millions on R&D and discover a new drug with a great market opportunity (and patent the drug) has made Pfizer a leader in the pharma market.

Locations

This is obviously more important if you’re in retail or real estate, but a great location can help your company a lot. Good locations are expensive but very valuable. And once you have a good location, it’s locked in. A competitor can’t literally build on top of you (although some may try to get right next to you).

Apartment company Aimco acquires properties and buildings in key locations that serve their business well. They pick cities and neighborhoods that are growing, have an educated population, and high-incomes. Then they charge a premium for their apartments. And they can do it because they have the locations that people want to live at.

A competitor may be able to offer a cheaper apartment, but it won’t be next to the lake or have the great views. Those are the things that the higher-income people care about, and they’ll pay a premium for it.

Companies with Successful Moats

Companies with sustainable competitive advantages have moats. Here’s three examples of companies we all know with deep moats.

1. Netflix

Do you have a Netflix subscription? I’ll bet you do. And if you don’t yet, you’ll eventually give in and pay Netflix that $10/month for access to their library of high-quality content.

Netflix is taking over the entertainment world. They have 118 million worldwide subscribers and it’s only growing more by the day. They’re able to keep attracting new subscribers and retaining their current subscribers for a few reasons:

  1. Most people in Netflix’s market have broadband internet.
  2. They’re adding new shows and movies every month to keep people watching. This means you can’t simply subscribe when the new season of House of Cards goes live, then cancel after you’ve watched that season.
  3. The cost for Netflix is relatively low when you consider that the library is commercial-free content.
  4. Cord-cutting is a real thing and Netflix is profiting from it.

So how did Netflix create their moat that has led to this phenomenal success? Let’s look at their keys – a data-driven formula to content.

Content and Data Model

You may not know it, but Netflix is one of the most data-driven companies there is. Believe it or not, they didn’t greenlight American Vandal because the executives laughed at the pitch. They greenlighted it because their data said it was worth the investment.

You may be thinking: so what? A lot of companies use data, why does that mean Netflix has a moat?

The key lesson here is that Netflix doesn’t just rely on savvy network executives. They have an edge on these companies because they rely on data. The success rate for network executives is pretty low. Most shows don’t last more than a few seasons before they’re cancelled. Netflix, on the hand, has quickly risen to the success of HBO, which has long been considered the gold standard of cable television. The list of successes with HBO is long, but Netflix has become quite a competitor to HBO, with most recently getting 2nd place in Golden Globe nominations.

It’s the data system that they have that can continually produce high-quality content. That technology, and that team, provide a moat for Netflix.

2. SiriusXM

In the era of Spotify (free), podcasts (free), and terrestrial radio (free), SiriusXM (paid) thrives. And not just thrives, their business is the best it’s ever been. They recently recorded a milestone – 32.7 million subscribers, most in the company’s history. How does a company that charges roughly $200/year for radio do so well?

They succeed because of their infrastructure, exclusive content, and deals with automakers. Let’s break all three down.

Infrastructure

SiriusXM uses satellites to transmit their programming to subscriber’s cars. This essentially means that anyone in the world can receive their signal, and thus, their programming. If anyone wanted to compete with them, they’d have to have massive upfront costs. This makes it a high barrier to entry.

The only other competition is terrestrial radio, which has limited range, and internet radio like Pandora, Spotify, and Slacker. These are good options, albeit their data usage, but here’s where SiriusXM throws some sharks in their moat with their exclusive content.

Exclusive Content

SiriusXM has exclusive contracts with the NBA, NFL, and NHL. This means that if you’re in Phoenix and can’t get the Chicago Cubs game, you can tune in and listen to it through SiriusXM. No one else offers that. You cannot get it with terrestrial radio or streaming services.

They also have an exclusive contract to broadcast Howard Stern, a massively popular talk show host. You can’t podcast him. If you want to listen to Stern, you’ll have to sign up for SiriusXM.

This content, combined with hundreds of talk and music stations give SiriusXM a deep moat over their competitors. And they add some phirnahas to their moat by having deals with automakers.

Deals with Automakers

Most people sign up for SiriusXM when they buy a new car (or sometimes a used car). Their conversion rate from trying SiriusXM to subscribing is 40%:

Four out of ten people who try SiriusXM end up subscribing, and those that subscribe tend to stick around given their low churn rate. With strong auto sales, SiriusXM will continue to acquire new customers. Is there any competitor that has as good of a distribution as SiriusXM? It would be like if Spotify came pre-installed on every new iPhone and Android sold.

3. Airbnb

For decades, hotels competed with each other without any disruptive competitor. Some competed on price, others competed on location, some competed on service (at a high price), while others competed on all three. They all got market share and at the end of the day were very successful.

Then came Airbnb.

Airbnb was able to compete with hotels on all three fronts, and grew quickly. Unlike hotels, they don’t own real estate. Instead, they’re a service that facilitates travel between hosts and guests. They offered something hotels never could – a wide range of location options and pricing flexibility. And they’ve perfectly maintained the balance between supply and demand in nearly all markets.

Just take a look at their growth, according to CEO Brian Chesky:

https://platform.twitter.com/widgets.js

Here’s a chart of that growth:

That growth is pretty remarkable, right? Pretty much hockey stick growth. That’s what a moat gives you – sustainable growth.

So that was their moat. Now they’ve threw sharks in their moat by improving their service and processes and building their user base. Let’s take a further look.

The Service Protects Against Entrants

Let’s imagine we want to create an Airbnb competitor. How would we get hosts and guests to use our service?

  • We could undercut their prices, which would basically ensure that we are forever unprofitable. Airbnb already operates with low margins – taking a 3% cut of the guest charge.
  • We could undercut that by charging hosts 0%, but how would we make money? Airbnb’s low fees means they get a strong supply of hosts.
  • We could offer additional services to make revenue, but Airbnb already has a head start on that.
  • How would we ensure safety? Airbnb has years of brand equity built up with hosts and guests, and throws in the $1 million warranty to cover any damages.

Going through this exercise shows us that creating a service that is superior to Airbnb is difficult. They have the brand equity built up, the business model works for them and their customers, their supply cannot be matched, and demand is equally as strong as we can see from the graph above. Can you think of any ways you could compete with Airbnb and threaten their moat?

Building Your Moat

While there is no formulaic method for building your moat, I’ll lay out a few steps to help get you thinking in the right direction.

1. Understand the Market

The first step in building your moat is to deeply understand the industry you’re about to enter. Understanding the market, pain points, and incumbents already in the marketplace is key to building your moat.

The last thing most industries need is another “me too”. If you build a hotel in a crowded urban area, will anyone notice? Probably not, unless you force them to notice you through beautiful architecture, historic landmarks, or exceptional service.

This sounds like an obvious first step, but many people start companies in already crowded markets, and don’t offer anything unique, and end up failing.

2. Understand Market Needs

Once you understand the market, it’s time to know if you can offer something unique. What does the market need that isn’t currently offered?

Netflix saw a market need. People didn’t like paying late fees for movies, and the selection offered at movie rental stores wasn’t vast. Netflix disrupted this by having a vast selection with no late fees. Tie that in with a recurring revenue model and they’ve put their competitors out of business. The only downside was the wait to receive the movie, but consumers decided the tradeoff was worth it.

3. Create Your Competitive Advantage

Now that you understand the market and the market needs, you can start creating your competitive advantage.

When Hiten and I created KISSmetrics, we created an analytics product no one else had. We created a better, more streamlined funnel report. And we didn’t track pageviews, we tracked each visitor as a person. We did this only after doing market research, building a Minimum Viable Product, and gaining market traction.

The KISSmetrics Funnel Report was superior to other market offerings. Marketers loved it!

I can’t tell you what your specific moat should be. It will vary with each industry and market. The examples I have been giving should help you understand moats and get you started.

4. Create and Add to Your Moat

Now that you have a moat and it’s proven to get market traction, it’s time to build upon that moat. You have to do this because moats don’t last forever. If other businesses see you’re doing well with your competitive advantage, they’ll copy you. That’s why Warren Buffett says it’s important for business owners to throw some sharks and piranhas in their moat to further protect the business from competitors.

The early KISSmetrics team had a competitive advantage with our product, but no marketing advantage.

Then we started our blog and began building traffic.

The early days of the KISSmetrics Blog

After routinely publishing blog posts and promoting our posts, we started getting hundreds of thousands of people to our blog every month. That took a lot of time, but it added to our moat.

Most competitors would have loved to get our traffic and the amount of eyeballs we got on our site every month. And as we added to our traffic with each successive months, we throw more sharks into our moat. We had our product moat and marketing moat and that became very successful for us.

To help you further understand moats and get you in the frame of thinking, let’s look at some companies that have deep moats.

Conclusion

There are many reasons why companies go out of business, but a common one is that they didn’t have a moat. Their offering just wasn’t different or unique enough from the incumbents in the market.

Large corporations wind up with reduced margins and increased competition because they didn’t protect and add to their moat. Remember the market share Microsoft had with their Windows operating system? That dwindled because they didn’t innovate and Apple capitalized on their shortcomings.

As an entrepreneur, you have to build your moat and then add to it with some sharks and piranhas. And always being aware of competitors and disruptive companies that will try to take market share from you.

What moat does your business have and how have you added to it?

About the Author: Neil Patel is the cofounder of Neil Patel Digital.

Katy Perry Obsessed Fan Found Guilty of Stalking, Gets Deported

Katy Perry Obsessed Fan Guilty of Stalking … Getting Deported 1/25/2018 9:17 AM PST EXCLUSIVE Katy Perry can breathe a sigh of relief — the 37-year-old man who said he’d …

The post Katy Perry Obsessed Fan Found Guilty of Stalking, Gets Deported appeared first on Newline Marketing.

How I Recruited 19 People In 30 Days Into My Business 🔥

[youtube https://www.youtube.com/watch?v=q3WbTKBOYto&w=640&h=360]

Vince McMahon Announces XFL Comeback!! (LIVE STREAM)

12:00 PM PT –&#one hundred sixty;It’s official. The XFL shall be again in 2020. Vince McMahon simply launched the “quicker paced,” household pleasant,” and “reimagined” league … calling it a …

The post Vince McMahon Announces XFL Comeback!! (LIVE STREAM) appeared first on Newline Marketing.

Your-Rights-as-an-eBay-Buyer

[youtube https://www.youtube.com/watch?v=7huymSrEsG8&w=640&h=360]

internet marketing director

Business marketing is a marketing practice of individuals or organizations (including commercial businesses, governments and institutions). It allows them to sell products or services to other companies or organizations that resell them, use them in their products or services or use them to support their works.
Business marketing is also known as industrial marketing or business-to-business (B2B) marketing. Despite sharing dynamics of organizational marketing with marketing to governments, business-to-government marketing is different.

see more at wikipedia

Check More at http://isthe.be/st.Power.Or.Free

internet marketing director

Fruition is a full service digital marketing agency based in Denver, Colorado that provides web design & development and Internet marketing services to multiple international corporations. The company is also known for its Google Penalty Checker tool.

see more at wikipedia

Check More at http://www.etrafficlane.com/60dollarmiracle/ac

T-Town's Solomon 'Shazam' Conner Arrested for Unpaid Child Support

T-Town’s Solomon “Shazam” Conner&#one hundred sixty;simply received arrested, and it ought to train him an essential lesson — when you’re gonna knock boots, you higher pay for the youngsters you …

The post T-Town's Solomon 'Shazam' Conner Arrested for Unpaid Child Support appeared first on Newline Marketing.

Competitive Advantages Aren’t Enough. Your Business Needs a Moat.

Moats are ditches of water that surround castles. They’re the first-line of defense against intruders.

Legendary investor Warren Buffett suggests you look at your business in a similar way. Your business is the castle, and the moat is what protects your business from competitors. Some refer to this moat as a competitive advantage.

The moat of a 14th-century castle

Successful companies have moats that protect them from competitors. Their moat can be a technological advantage, a real estate advantage, pricing advantage, and intellectual property.

Here’s why moats matter, and why every successful company needs one.

Background on Moats

“The most important thing to me is figuring out how big a moat there is around the business. What I love, of course, is a big castle and a big moat with piranhas and crocodiles.” ― Warren Buffett

Warren Buffett was the first to refer to a competitive advantage as a moat. Here’s a video of him explaining moats back in 1998 at a speech at the University of Florida:

[youtube https://www.youtube.com/watch?v=8Av8nyhH9lY?wmode=transparent&modestbranding=1&autohide=1&showinfo=0&rel=0]

Now that we understand moats, let’s look at the common types of moats. We’ll then get into examples of companies with wide moats, and how entrepreneurs can ensure they’re building a moat for their business.

Types of Moats

Moats can vary in every industry, but let’s look at some common ones that cross industries:

Price

Offering discounts isn’t a moat. Being able to offer a lower price over a long period of time while at the same time offering similar service to competitors is a moat.

A prime example of this would be Geico insurance company. Everyone needs insurance, and Geico is able to offer lower price than competitors. And customers don’t have to sacrifice service in order to save, either.

Most realtors charge a 6% commission fee for selling your house. So what does Redfin do? They cut those fees down to 4%, which means that the seller makes thousands more when they sell with Redfin.

The only way another realtor can compete is by significantly cutting their fees and accepting less money. And are they really going to do that after keeping their fees at 6% for years? Probably not, unless they’re forced to.

Redfin’s moat is their lower fees, which attract home sellers to use them over a traditional brokerage.

Another company with pricing advantage is Walmart. Amazon and E-Commerce may be growing, but Walmart is still the king of retail (which is not dead).

One of the biggest criticisms of Walmart (which is ironically also its strength) is that they put their big-box stores in small towns, and undercut local stores using predatory pricing, and drive those established, local stores out of business.

This headline from Salon highlights many people’s criticisms with the retail giant.

It’s that strategy of being able to consistently undercut competitor prices (even in suburban communities) that drive Walmart’s success and is their deepest moat. If Walmart raised prices on all the products they’d sell, their revenue would plummet and they would lose market share to their competitors.

Technology

Exclusive technology can encourage customers to use your product over any other. And it doesn’t have to be anything groundbreaking. It can be the sum of many features all rolled into one.

Salesforce CRM has a lot of features. You can do a lot with the product – both sales and marketing teams can get a lot of use out of it. The development cost of this is steep for other competitors looking to disrupt the commanding market share that Salesforce owns. This technology, combined with high switching costs makes for high retention rates and strong recurring revenue growth.

Apple has created a moat with their products. A feature like Messages automatically syncs with your iPhone and you can send and receive text messages through your computer. I’ve personally become so used to it that it makes it cumbersome to go back to texting on my iPhone. This feature, combined with dozens of others, is why someone may choose an iPhone over Android. Apple has done a tremendous job of creating this ecosystem and bridging iOS with macOS.

Google’s algorithm is probably the most high-profile technology advantage that we all know. Their search algorithm, along with their infrastructure, has been built up and refined over the years and competitors simply cannot match it. Creating a new search engine with the goal of more accurate search results would result in failure. So smaller companies that are looking to disrupt Google, such as DuckDuckGo, take advantage over some user concerns with using Google. DuckDuckGo is a privacy-based search engine that capitalizes on the ascension of privacy-related concerns more and more of the public is having.

Their value proposition is simple and effective – The search engine that doesn’t track you.

Socially-driven companies like Ecosia plant trees when users search. They’ve found some niche of the market and used it to their advantage, but ultimately they won’t be able to surpass Google.

Google throws some piranhas in their moat with Android, which has Google search built into every phone. And Google pays Apple a hefy charge to have their search as the default on iOS devices, but it nets them billions more to ensure it’s a profitable deal for Google.

Think about what matters in your industry. Are you in information security? Then a unique technology that no other company has would be the start of a moat – you’ve got the ditches built and a little water, now you need more to add to your moat.

People

The employees can be the sharks that swim around in the moat. Good people make good products. If your company is able to attract and retain the best people, you’ll be adding more to the moat that you already have.

Think of the companies that consistently attract the best people – Google, Apple, Goldman Sachs, etc. These companies are great because of the products and services their employees create, which in turn attracts more great people to work for them. (Because who wouldn’t want to work for a great company that’s surrounded with talented employees?)

Apple has a moat, particularly because of its design, which Marissa Mayer has called the “gold standard”. The design can be credited to the creativity and innovation from Apple’s design team, most notably Jony Ive.

Ive is the design leader at Apple, and has more than 1400 patents in his name. Would it be possible to put a dollar value to the growth that Ive has contributed to Apple? Some may argue that with Jobs’ passing, Ive is Apple’s most valuable asset.

Apple’s most valuable asset?

Patents

There’s a reason why we have patents. They encourage innovation and protect intellectual property. A pharmaceutical company that discovers an effective new drug has a moat protecting that discovery for years.

The new profits from that drug continue for as long as the patent is held, and the company grows its business because of that moat. The only thing that could disrupt the moat is a competitor creating a similar drug, or undercutting prices.

For instance, take a look at the Viagra business for pharmaceutical giant Pfizer. Developing that drug cost a lot of money on Research and Development, and once they discovered it and how effective it was (and the market opportunity), they secured the patent. It’s estimated that Viagra drug has earned Pfizer nearly $1.5 billion in annual sales.

The $1.5 billion money-maker for Pfizer

That moat – being able to spend millions on R&D and discover a new drug with a great market opportunity (and patent the drug) has made Pfizer a leader in the pharma market.

Locations

This is obviously more important if you’re in retail or real estate, but a great location can help your company a lot. Good locations are expensive but very valuable. And once you have a good location, it’s locked in. A competitor can’t literally build on top of you (although some may try to get right next to you).

Apartment company Aimco acquires properties and buildings in key locations that serve their business well. They pick cities and neighborhoods that are growing, have an educated population, and high-incomes. Then they charge a premium for their apartments. And they can do it because they have the locations that people want to live at.

A competitor may be able to offer a cheaper apartment, but it won’t be next to the lake or have the great views. Those are the things that the higher-income people care about, and they’ll pay a premium for it.

Companies with Successful Moats

Companies with sustainable competitive advantages have moats. Here’s three examples of companies we all know with deep moats.

1. Netflix

Do you have a Netflix subscription? I’ll bet you do. And if you don’t yet, you’ll eventually give in and pay Netflix that $10/month for access to their library of high-quality content.

Netflix is taking over the entertainment world. They have 118 million worldwide subscribers and it’s only growing more by the day. They’re able to keep attracting new subscribers and retaining their current subscribers for a few reasons:

  1. Most people in Netflix’s market have broadband internet.
  2. They’re adding new shows and movies every month to keep people watching. This means you can’t simply subscribe when the new season of House of Cards goes live, then cancel after you’ve watched that season.
  3. The cost for Netflix is relatively low when you consider that the library is commercial-free content.
  4. Cord-cutting is a real thing and Netflix is profiting from it.

So how did Netflix create their moat that has led to this phenomenal success? Let’s look at their keys – a data-driven formula to content.

Content and Data Model

You may not know it, but Netflix is one of the most data-driven companies there is. Believe it or not, they didn’t greenlight American Vandal because the executives laughed at the pitch. They greenlighted it because their data said it was worth the investment.

You may be thinking: so what? A lot of companies use data, why does that mean Netflix has a moat?

The key lesson here is that Netflix doesn’t just rely on savvy network executives. They have an edge on these companies because they rely on data. The success rate for network executives is pretty low. Most shows don’t last more than a few seasons before they’re cancelled. Netflix, on the hand, has quickly risen to the success of HBO, which has long been considered the gold standard of cable television. The list of successes with HBO is long, but Netflix has become quite a competitor to HBO, with most recently getting 2nd place in Golden Globe nominations.

It’s the data system that they have that can continually produce high-quality content. That technology, and that team, provide a moat for Netflix.

2. SiriusXM

In the era of Spotify (free), podcasts (free), and terrestrial radio (free), SiriusXM (paid) thrives. And not just thrives, their business is the best it’s ever been. They recently recorded a milestone – 32.7 million subscribers, most in the company’s history. How does a company that charges roughly $200/year for radio do so well?

They succeed because of their infrastructure, exclusive content, and deals with automakers. Let’s break all three down.

Infrastructure

SiriusXM uses satellites to transmit their programming to subscriber’s cars. This essentially means that anyone in the world can receive their signal, and thus, their programming. If anyone wanted to compete with them, they’d have to have massive upfront costs. This makes it a high barrier to entry.

The only other competition is terrestrial radio, which has limited range, and internet radio like Pandora, Spotify, and Slacker. These are good options, albeit their data usage, but here’s where SiriusXM throws some sharks in their moat with their exclusive content.

Exclusive Content

SiriusXM has exclusive contracts with the NBA, NFL, and NHL. This means that if you’re in Phoenix and can’t get the Chicago Cubs game, you can tune in and listen to it through SiriusXM. No one else offers that. You cannot get it with terrestrial radio or streaming services.

They also have an exclusive contract to broadcast Howard Stern, a massively popular talk show host. You can’t podcast him. If you want to listen to Stern, you’ll have to sign up for SiriusXM.

This content, combined with hundreds of talk and music stations give SiriusXM a deep moat over their competitors. And they add some phirnahas to their moat by having deals with automakers.

Deals with Automakers

Most people sign up for SiriusXM when they buy a new car (or sometimes a used car). Their conversion rate from trying SiriusXM to subscribing is 40%:

Four out of ten people who try SiriusXM end up subscribing, and those that subscribe tend to stick around given their low churn rate. With strong auto sales, SiriusXM will continue to acquire new customers. Is there any competitor that has as good of a distribution as SiriusXM? It would be like if Spotify came pre-installed on every new iPhone and Android sold.

3. Airbnb

For decades, hotels competed with each other without any disruptive competitor. Some competed on price, others competed on location, some competed on service (at a high price), while others competed on all three. They all got market share and at the end of the day were very successful.

Then came Airbnb.

Airbnb was able to compete with hotels on all three fronts, and grew quickly. Unlike hotels, they don’t own real estate. Instead, they’re a service that facilitates travel between hosts and guests. They offered something hotels never could – a wide range of location options and pricing flexibility. And they’ve perfectly maintained the balance between supply and demand in nearly all markets.

Just take a look at their growth, according to CEO Brian Chesky:

https://platform.twitter.com/widgets.js

Here’s a chart of that growth:

That growth is pretty remarkable, right? Pretty much hockey stick growth. That’s what a moat gives you – sustainable growth.

So that was their moat. Now they’ve threw sharks in their moat by improving their service and processes and building their user base. Let’s take a further look.

The Service Protects Against Entrants

Let’s imagine we want to create an Airbnb competitor. How would we get hosts and guests to use our service?

  • We could undercut their prices, which would basically ensure that we are forever unprofitable. Airbnb already operates with low margins – taking a 3% cut of the guest charge.
  • We could undercut that by charging hosts 0%, but how would we make money? Airbnb’s low fees means they get a strong supply of hosts.
  • We could offer additional services to make revenue, but Airbnb already has a head start on that.
  • How would we ensure safety? Airbnb has years of brand equity built up with hosts and guests, and throws in the $1 million warranty to cover any damages.

Going through this exercise shows us that creating a service that is superior to Airbnb is difficult. They have the brand equity built up, the business model works for them and their customers, their supply cannot be matched, and demand is equally as strong as we can see from the graph above. Can you think of any ways you could compete with Airbnb and threaten their moat?

Building Your Moat

While there is no formulaic method for building your moat, I’ll lay out a few steps to help get you thinking in the right direction.

1. Understand the Market

The first step in building your moat is to deeply understand the industry you’re about to enter. Understanding the market, pain points, and incumbents already in the marketplace is key to building your moat.

The last thing most industries need is another “me too”. If you build a hotel in a crowded urban area, will anyone notice? Probably not, unless you force them to notice you through beautiful architecture, historic landmarks, or exceptional service.

This sounds like an obvious first step, but many people start companies in already crowded markets, and don’t offer anything unique, and end up failing.

2. Understand Market Needs

Once you understand the market, it’s time to know if you can offer something unique. What does the market need that isn’t currently offered?

Netflix saw a market need. People didn’t like paying late fees for movies, and the selection offered at movie rental stores wasn’t vast. Netflix disrupted this by having a vast selection with no late fees. Tie that in with a recurring revenue model and they’ve put their competitors out of business. The only downside was the wait to receive the movie, but consumers decided the tradeoff was worth it.

3. Create Your Competitive Advantage

Now that you understand the market and the market needs, you can start creating your competitive advantage.

When Hiten and I created KISSmetrics, we created an analytics product no one else had. We created a better, more streamlined funnel report. And we didn’t track pageviews, we tracked each visitor as a person. We did this only after doing market research, building a Minimum Viable Product, and gaining market traction.

The KISSmetrics Funnel Report was superior to other market offerings. Marketers loved it!

I can’t tell you what your specific moat should be. It will vary with each industry and market. The examples I have been giving should help you understand moats and get you started.

4. Create and Add to Your Moat

Now that you have a moat and it’s proven to get market traction, it’s time to build upon that moat. You have to do this because moats don’t last forever. If other businesses see you’re doing well with your competitive advantage, they’ll copy you. That’s why Warren Buffett says it’s important for business owners to throw some sharks and piranhas in their moat to further protect the business from competitors.

The early KISSmetrics team had a competitive advantage with our product, but no marketing advantage.

Then we started our blog and began building traffic.

The early days of the KISSmetrics Blog

After routinely publishing blog posts and promoting our posts, we started getting hundreds of thousands of people to our blog every month. That took a lot of time, but it added to our moat.

Most competitors would have loved to get our traffic and the amount of eyeballs we got on our site every month. And as we added to our traffic with each successive months, we throw more sharks into our moat. We had our product moat and marketing moat and that became very successful for us.

To help you further understand moats and get you in the frame of thinking, let’s look at some companies that have deep moats.

Conclusion

There are many reasons why companies go out of business, but a common one is that they didn’t have a moat. Their offering just wasn’t different or unique enough from the incumbents in the market.

Large corporations wind up with reduced margins and increased competition because they didn’t protect and add to their moat. Remember the market share Microsoft had with their Windows operating system? That dwindled because they didn’t innovate and Apple capitalized on their shortcomings.

As an entrepreneur, you have to build your moat and then add to it with some sharks and piranhas. And always being aware of competitors and disruptive companies that will try to take market share from you.

What moat does your business have and how have you added to it?

About the Author: Neil Patel is the cofounder of Neil Patel Digital.

7 Essential LinkedIn Marketing Stats: When to Post, What to Post and How to Impr…

7 Essential LinkedIn Marketing Stats: When to Post, What to Post and How to Improve Source by connectly The post 7 Essential LinkedIn Marketing Stats: When to Post, What to …

The post 7 Essential LinkedIn Marketing Stats: When to Post, What to Post and How to Impr… appeared first on Newline Marketing.

Did You Give Up?? 😐😐

[youtube https://www.youtube.com/watch?v=QJPTX8rAVps&w=640&h=360]