“Being better than 98 percent of the competition used to be fine. In the world of Google, though, it’s useless. It’s useless because all of your competition is just a click away, whatever it is you do. The only position you can count on now is best in the world”.
Seth Godin, The Dip
If you’re struggling to conquer the market-share of your industry, online or offline, Seth Godin, author of The Dip offers some advice on why businesses often fail to achieve top-status in thier field.
1. You run out of time
2. You run out of money
3. You get scared
4. You’re not serious about it
5. You lose interest or enthusiasm or settle for being mediocre
6. You focus on the short term instead of the long, and quit with the short term gets too hard
7. You pick the wrong thing at which to be the best in the world
It means online marketing focus needs to be limited to the keywords and markets where you can clearly win. Any attempt to capture ideal keywords that are too expensive or out-of-reach, due to strong competitive presence, can turn to be disaterous.
Your online marketing and advertising dollars must start with limited achievable target, where you can make a small empire for your business, and dominate the niches that you can win. There are lots of tools to help achieve this, but it begins with the understanding of your business capability, and your own understanding of the market.