625: 3 Ways Your Competitors Can Help Improve Your Marketing w/ Ellie Mirman

ABOUT THIS EPISODE

In this episode we talk to Ellie Mirman, CMO of Crayon.

LinkedIn: https://www.linkedin.com/in/elliemirman/

A relationship with the right referral partner could be a game changer for any BEDB company. So what if you could reverse engineer these relationships at a moment's notice, start a podcast, invite potential referral partners to be guests on your show and grow your referral network faster than ever? Learn more at sweet fish Mediacom. You're listening to the be tob growth show, a podcast dedicated to helping be to be executives achieve explosive growth. Whether you're looking for techniques and strategies or tools and resources, you've come to the right place. I'm James Carberry and I'm Jonathan Green. Let's get into the show. Welcome back to the B tob growth show. We are here today with Ellie Merman. She is the CMO of Crayon. Ellie, how you doing today? I'm doing great. Thanks much for having me. I'm excited to chat with you, Ellie. We're going to be talking about how your competitors can help you improve your...

...marketing. So it's it's a really interesting topic and when you mentioned it I thought, man, this is going to be a really fun conversation. Before we get into that, Ellie I'd love for you to explain to our listeners, just a loaded crayon and what you and your team are up to over there. Short thing. So, crown is a market intelligence company. We help companies track and, doesn't act on, everything happening in their market. So what that means is we have a platform for automated competitive intelligence as well as competitive analysis tools, so that you can find insights to help improve your business. I love it. I love it, and so, obviously, with you guys, with you guys living and breathing, in this case, it makes perfect sense why you are the person to talk about how your competitors can help you improve your marketing. So, as we're talking about this idea leading into this conversation, Ellie, you mentioned this idea of shortcutting best practices. Could you elaborate on on that idea bit and and tie it back to how that helps us use our competitors to make our marketing better? Yes,...

...absolutely so. You know, if we think a step back and think about why we even need to bother looking at our competitors, certainly no business operates in a vacuum and your marketing efforts Ye for the same attention as the for the prospects that your competitors are going after. But that's not actually a bad thing. Having your competitors there and your their marketing campaigns available to you can help you improve your own campaigns and shortcutting best practices is a great way to do that. You know, by looking at what your competitors are doing on their websites, with their landing pages, with their SEO efforts, what they're a be testing on their sites, can be a great way for you to almost expand the the size and the bandwidth of your own team to learn from their own tests. So Great. Example, we have a customer in the Waste Management Space and there are a small team. Waste Management is this giant industry with national companies and they've been monitoring their big national rivals and those rivals...

...honestly have more resources, they have bigger budgets, they have bigger teams, they just have more bandwidth to run more campaigns and do more testing. And so what they've been doing is looking at what they're testing, looking at their lighting page tests, looking at the SEO work that they're doing on their site and saying, Oh wait, what are they doing there? They're, you know, changing this thing about the Metadata of the page. Let me see how I comply those same learnings to my site so that I don't need this bigger team to take advantage of these best practices. Yeah, that makes perfect sense. I've heard of folks you kind of signing up for their competitors email list go through their funnel and see what emails they're sending when. But it makes perfect sense, if you've got the technology that's going to enable to you to do it, to see, okay, what are they be testing? What are the you know, what are they changing from an Seo Perspective on their site? So that makes perfect sense and I love how you explained that.

It really expand and it's almost like expanding your team into theirs by being able to leverage, you know, what their team is doing to improve what they're you know how they're going to market in that and the marketing efforts that they're deploying. The next thing you talked about offline, Ellie, was this idea of finding white space in your market. Can you talk to us about that idea? Yeah, absolutely so. I especially think about the white space as it relates to really popular marketing strategies like content marketing. Certainly every business has a blog. Now everyone's doing those, taking this content marketing approach, which means it's that much harder to stand out with that right. If you rewind a decade, you know, if you had a blow, you were instantly the best marketer in your industry. Yes, not really the case anymore, and so looking at where your competitors are investing can help you figure out, all right, how do I differentiate my marketing approach so that I can...

...stand out, so we're not all just writing the same blog post every single week and promoting it on the same channels. How do I figure out where that white space is and so that can apply to channels, you know, whether it's twitter versus facebook, versus medium, versus Youtube, what have you. Media formats, you know, do you do short or form, long form, video, multi media? And then also topics. I think that one of the things that a lot of competitive industries resultant is everybody's kind of rephrasing the same idea over and over again and it's really hard for prospects to tell the difference between what what all of them are really push record. So looking at that can really help you figure out, all right, they're not none of our competitors are investing in long form ebook content. Maybe that's a way for us to stand out. And so actually there was a company in the staffing and recruiting space, cource, very crowded lot of companies in the same thing. They did exactly that. They looked at the content formats,...

...they looked at the topics that their competitors were using and weren't using, and they started to invest in those, those white space areas, and they saw more social engagement because it was really unique content. They saw more website traffic as a result because, hey, there were the only ones really producing that, and they also got more third party coverage. Is that it have an interesting angle for some of that differentiated content marketing. You can get more news coverage and more people writing about what you're doing because you're being unique in your protect yeah, so it's a not just capitalizing on what your competition is doing by trying to emulate what they're doing, but but also looking at what they're not doing, and it really really pressing into that why space makes makes a whole lot sense. This last one that we're going to talk about, Ellie, is societea of inspiring new approaches tell us about this one. Yeah, so one of my favorite things about our competitive intelligence approach is not just looking...

...at your direct competitors. I think a lot of folks when they think about monitoring their competitors, they think about the people they go head tohead with in every sales conversation, but you can actually learn a lot from less direct competitors, whether it's, you know, even partners or your customers as well. And what I also consider or what I call aspirational competitors to these are companies that are not really people that come up in a sales process. You don't go head tohead with them, but there is some amount of overlap in the types of customers that you go after and the the product approach or there's just some sort of overlap in and what you're offering, and so I love monitoring those companies as something that I actually do. I look at companies that are not really doing market intelligence, but they do like deep data in different parts of the marketing sphere, and so it's really fascinating to see how they approach marketing because we have in some ways similar products and similar customers, but they've...

...been around a lot longer, they have much bigger teams as a similar to the kind of shortcutting the best practices. There's an opportunity to get inspired by them. So I love looking at them for pr ideas seeing what they what they use to get coverage, looking at unique marketing campaigns to say, you know, I don't have the same amount of bandwidth as they do, but maybe there are unique things that are working for them that would also work for us and it wouldn't be competitive. And then even looking at things like positioning. If we have a similar product as it relates to data and insights, how did they position that? How do they write case studies around it? Think that there's a lot of great inspiration that comes from looking at these less direct competitive folks. That's that's fantastic, allie. This is this has been incredible. You've given me a ton of ideas. If there's somebody listening to this, they want to stay connected with you or they want to learn more about Crayon and how you guys can come alongside their marketing efforts and help them...

...do a lot of what we just talked about. What's the best way for them to go about doing both of those things? Yeah, so feel free to check out our website. That's Crayon DOTCO. We have lots of information, lots of educational content and a couple of free products as well, so you can kind of dabble in that and see what we're all about. I love it. I love it and and they can. I was just looking around on your website side. If you if you go around and check out their team, you'll see you'll see la and and where she's living on Linkedin, and so would and would encourage everyone to make sure and stay connected with her, follow her on Linkedin and make sure that you stay up to date on everything they've got going on. La, this has been incredible. Again, thank you so much for your time. Thank you. There are lots of ways to build a community and we've chosen to build the BEDB growth community through this podcast. But because of the way podcasts work, it's really hard to engage with our listeners and without engagement it's tough to build a great community.

So here's what we've decided to do. We're organizing small dinners across the country with our listeners and guests. No sales pitches, no agenda, just great conversations with likeminded people. Will Talk Business will talk family, will talk goals and dreams, will build friendships. So if you'd like to be a part of a BEDB growth dinner in a sitting near you, go to be to be growth dinnerscom. That's be toob growth dinnerscom. Thank you so much for listening. Until next time.

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