Many people believe that a competitive analysis is unnecessary because they feel that they have a good handle on who their competition is and what they offer. But a competitive analysis can also be used when trying to break into a new market. By conducting a competitive analysis for an environment you are unfamiliar with, you are able to model a new business that included many features that your competitors are likely to offer as well as some unique ones that may drive customers away from their typical company.
Competitive analysis can help frame your own product context, discover other problems your customers have, and even bond the team together against a common foe. For all of these reasons and more you shouldn’t ignore your competition. However, if you don’t properly understand how they impact your organization’s strategy, competitive analysis is simply a waste of time.
The other option is to follow up with page visitors outside of AdWords. To do this, you’ll want to create an opt-in page (like the templates above) that offers visitors something of value in exchange for their email address or other contact information. Our dishwasher vendor could offer a free guide on the best way to prolong the life of your dishwasher.
Unless you have a budget to conduct formal research, its best to use available resources such as news articles, industry journals, analyst reports, the company’s website, marketing collateral, company reports and so forth. You may also want to do a general blog search to find out what their customers’ and others are saying about the company and the products they offer. Networking events and tradeshows also present great opportunities to collect data about your competitors. Your more loyal customers may also share information with you.
Stadiums, airports, universities, and malls are examples of specific venues that can be targeted in order to reach specific interest groups. Stadiums provide a great opportunity to focus on specific short engagement events with an audience defined by that event. They often host fans from two specific cities or schools or fans of a specific music genre that is heavy in one demographic. A band like One Direction, for example, is likely to attract school-age female fans.
Your campaigns are the foundation of your structure. You will probably only have a few campaigns, which is fine. The less you have, the more manageable it will be. Start small and only expand when it makes sense to. You could have a campaign for each type of chocolate (fair trade, milk, white, dark, vegan) if you were a small chocolate shop for example. You could have a campaign for sale and non-sale items as well. You have to decide what makes sense for your small business.
I analyze the story the competitors tell with their landing pages, their site UX, and transparency (reviews, trust). Then I adjust my wireframe, making sure my client’s page can stand up to all that and more. Sometimes all I need is a better visual design than the competitor’s, but often, it is a matter of better explaining the value proposition of the service/product and putting together a more logical flow of elements.”
It's important to check that you have a mix of head terms and long-tail terms because it'll give you a keyword strategy that's well balanced with long-term goals and short-term wins. That's because head terms are generally searched more frequently, making them often (not always, but often) much more competitive and harder to rank for than long-tail terms. Think about it: Without even looking up search volume or difficulty, which of the following terms do you think would be harder to rank for?
Your entire PPC campaign is built around keywords, and the most successful AdWords advertisers continuously grow and refine their PPC keyword list (ideally, using a variety of tools, not just Keyword Planner). If you only do keyword research once, when you create your first campaign, you are probably missing out on hundreds of thousands of valuable, long-tail, low-cost and highly relevant keywords that could be driving traffic to your site.
The effectiveness of geo-targeting is only going to further improve as mobile use grows and location data becomes more accurate and available. The Local Search Association (LSA) just released data that found that, for the first time, mobile devices surpassed PC use in search for local businesses and services. As I reported last month, the majority of searches (52%) for local information on mobile devices occur either in the car or away from home or work.
In this article, I will introduce the subject of competitive analysis, which is basically a method to determine how well your competitors are performing. My aim is to introduce the subject to those of you who are new to the concept. It should be useful if you are new to product design, UX, interaction or digital design, or if you have experience in these fields but have not performed a competitive analysis before.
John Lincoln is CEO of Ignite Visibility, one of the top digital marketing agencies in the nation and the number 698 fastest growing company in the USA in the 2017 Inc. 5000. As a digital marketing expert and in-demand public speaker, Lincoln is consistently named one of the top influencers in the industry. In 2017, he was the recipient of the Search Engine Land "Search Marketer of the Year" award. Ignite Visibility crafts custom digital marketing strategies for clients, including services in SEO, social media, paid media, email marketing, Amazon and more.
Thanks for sharing your template file. It will help focussing on the right things right from the beginning. I checked out SEMrush to get a comparison of the keywords our competition is using. The results are poor basically. Its about sites in Switzerland for keywords and competitors we know since years. The data these tools show you is not at all reflecting the actual situtation here. I guess they perform well in the US/Canada, by far less good in rest of the world...
Great question. You could adjust the formulas but I find it easier to highlight the full report (after it is populated with your data) then copy it and paste "values only" this way none of the formulas break. Then go into the navigation of google sheets and select "Data" then "Filter". You will now have filtering options on all of the headings. Then you can simple select your website and uncheck "Yes" so you only see the domains that do not link to you. Give that a shot and let me know if it works for you.
1. More Powerful Personalization, Targeting and Campaign Analysis Capabilities: The capability for ever-more-specific PPC ad personalization and targeting (plus re-targeting) is available, but underused. You can, of course, target demographics and persona characteristics like age or income, customer type or purchase history/level (existing, repeat, prospect), sales funnel position, company role (for B2B ads) and more. Beyond these basics, you can now map the customer journey, learn how the visitor came to you and/or see much of the path taken to buy. This “attribution” insight can significantly improve the ROI of your 2018 campaigns; you’ll see what’s working and what isn’t, for better PPC strategies.
If you have and use a smartphone, it’s possible for you to set location-based reminders for yourself, right now. You can, for example, tell your phone to alert you when you’re within range of the frame shop, so that new piece of art doesn’t become a six-month fixture in your trunk. Or, if you’ve attended a concert lately, and the band sends you a push notification to buy some gear while you’re in the venue, they’ve likely used geofencing.
It's not always about getting visitors to your site, but about getting the right kind of visitors. The usefulness of this intelligence cannot be overstated; with keyword research you can predict shifts in demand, respond to changing market conditions, and produce the products, services, and content that web searchers are actively seeking. In the history of marketing, there has never been such a low barrier to entry in understanding the motivations of consumers in virtually any niche.
To determine your company's market share on a percentage basis, thefollowing formula should be used: Current Market Share = Company sales Industry salesYou should then compute each of your competitors' market shares. It will give you a clear idea of how your sales volume compares to your competition's. If you don't have total industry sales figures you won't be able to figure out your market share, but you can still get a good idea of your competitive position by comparing the sales volume figures. For example, say last year Company A sold $3 million dollars worth of copiers, Company B sold $5 million, and you sold $4 million. It's obvious that Company B has the largest share of your market and is your greatest competitor. Competitive Objectives and Strategies For each competitor in your analysis, you should try to identify what their market objectives are and determine what types of strategies they are using to achieve them. Are your competitors trying:
Limiting your organization to direct competitors only might lead you to a very narrow view of the market. This framework allows you to evaluate companies that aren’t just your direct competitors but companies that could easily move into your turf. You want to consider companies that aren’t currently in your category but could potentially leverage their product or technology in your space.
Some very general words such as “marketing” or “business” are very competitive, making it harder to rank well for them in search engine results. If you are a small- or medium-sized business, you probably want to choose less competitive keywords, more specifically related to your business (these are commonly referred to as long tail keywords). The greater the volume of searches on a keyword, the more competitive it is. There are a number of different tools you can use to determine thecompetitiveness of a specific keyword as well as suggest and help you brainstorm new keyword ideas.
The use of semantic search has completely changed the way we perform modern search queries today. A decade ago, people stuck with what was short and simple. If they wanted to find the best pizza places in New York City, they would type in “Pizza New York.” However, with Google’s Hummingbird update and the algorithmic improvements to semantic searches, people now are more inclined to type in “Where is the best pizza place in New York City.”
You can use multiple different exclusion zones if you have an extremely particular region that you’re looking to target. The only caveat here is that you have to make sure you’re not being too narrow with your behavioral and demographic targeting. When you focus on too small a region, the size of your audience can get so small that it becomes practically impossible for Facebook to actually deliver your advertisements.
Understanding which websites already rank for your keyword gives you valuable insight into the competition, and also how hard it will be to rank for the given term. Are there search advertisements running along the top and right-hand side of the organic results? Typically, many search ads means a high-value keyword, and multiple search ads above the organic results often means a highly lucrative and directly conversion-prone keyword.
Once you’ve established some broad categories you should now look at direct competitors to your product. These include any company that sells a very similar or identical product or service in the same footprint as your organisation. For example; if your company sells Cable TV service, you would only list your competitors as those offering a similar service that your customers can also purchase. If the competitor’s service does not extend to your company’s geographical footprint, there may be no point including this competitor in your analysis. Their product offering however may be interesting and you may include it in a Product Comparison paper.
Chesky and Gebbia believed that most people thought hotels were the only option for travelers, but the truth was that renting someone’s extra room was cheaper with an added dose of personalised hospitality – and likely a higher margin business as well. Hyman and Fleiss believed that most people thought they needed to buy the dress they wanted to wear, but the truth was that you didn’t need to own a dress that you only wear a few times. Both teams set out to challenge old customer preferences with modern technology and logic.
As you consider new ideas for your next project or business, give extra credence to the things you believe to be true that others doubt. The most exciting products are created by people with tons of conviction for something that strikes most others as odd. I’ve heard from Joe Gebbia, co-founder of Airbnb, that when he and his co-founder Brian Chesky pitched the idea of having strangers sleeping in your home when you weren’t there, many investors shifted uncomfortably in their seats.
Geographically targeted ads can increase returns significantly over "blind advertising." On the Internet, clickthrough rates are improved compared with advertisements not targeted by location. The results in a given situation depend on the geographical distribution of potential customers, a variable that requires intensive research to accurately determine.
Strategy is more than a bundle of cultivated tactics. When we onboard a new client, we have a whole arsenal of tools to use and reports to run that help us understand the account better. It is easy for us to pat ourselves on the back and say “this is a good strategy for learning the account!” Pardon my language when I say: That ain’t no heckin’ strategy.
As the content manager, Annie manages a team of brand journalists and is the driving force behind the content strategy for companies in a wide range of industries, including healthcare, technology and professional services. Relying on interviewing skills she developed in her seven years as a journalist, she uncovers insights about what motivates buyers in these industries and uses that knowledge to shape client websites and editorial calendars.
Entrepreneur and marketing guru Peter Yang is the co-founder of ResumeGo, a firm offering resume and CV writing services to people aspiring to advance in their professional careers. As the head of the company’s marketing operations and a content marketing manager for IBM in the past, he wants to share his experience with other marketers looking to make it big.
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Evaluate your competitor's price. Just because you have the same products as other businesses, doesn't mean everyone has the same price. Your own production costs greatly impact your pricing. If your price for a similar product is higher than your competitor's, then your market position is weaker; and if it's lower, then your competitive position is better.A temporary price decrease by a competitor might indicate nothing more serious than a transient need to move excess inventory. However, a trend of lowered prices may indicate that your competition is doing it to gain market share and improve production costs. It could also mean your rival is in financial trouble and has been forced to lower prices. It's in this type of situation that rumors and gossip become helpful. If there are rumors that a company is in financial trouble and you discover price fluctuations, it's more likely that there are problems. Be sure your analysis includes product/service charges added to the purchase price, such as installation or additional equipment required.
With a clear understanding of our objectives and audience, we can now determine how we want to target our prospects across the AdWords network. There are multiple targeting options available, from location to demographics and display ads to video ads. The trick is to tailor your adverts to deliver the best results based on how your users browse the web. This chapter provides you with the primary elements required to accurately target your campaign.
We at Moz custom-built the Keyword Explorer tool from the ground up to help streamline and improve how you discover and prioritize keywords. Keyword Explorer provides accurate monthly search volume data, an idea of how difficult it will be to rank for your keyword, estimated click-through rate, and a score representing your potential to rank. It also suggests related keywords for you to research. Because it cuts out a great deal of manual work and is free to try, we recommend starting there.
If you want more traffic from the search engines, follow the steps from the SEO analysis report. The SEO Analyzer point out all of the problem you may have on you website and supply with tips how to fix them. Use wisely and remember not to over-optimize the page, as it may look that the page is created for search engines. Our SEO Analyzer is the most advanced and fastest analyzer on the web.