Preparing a Competitor Analysis is an activity that all Product Managers undertake at some point in the job. As Product Managers, having solid knowledge of our rivals and their activity in the marketplace helps us make better decisions during the strategic product planning phase. It ensures that we’re ready to respond to our competitors and exploit any weakness in order to gain a larger share of the pie.
He is the co-founder of Neil Patel Digital. The Wall Street Journal calls him a top influencer on the web, Forbes says he is one of the top 10 marketers, and Entrepreneur Magazine says he created one of the 100 most brilliant companies. Neil is a New York Times bestselling author and was recognized as a top 100 entrepreneur under the age of 30 by President Obama and a top 100 entrepreneur under the age of 35 by the United Nations.
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.
How do current customers rate the following features of your business compared to your competition.Rate the following as: fair, good or excellent. Our Company / Competition ___________ /__________ Price ___________ /__________ Quality ___________ /__________ Durability ___________ /__________ Image/style ___________ /__________ Value ___________ /__________ Name Recognition ___________ /__________ Customer Service ___________ /__________ Customer Relations ___________ /__________ Location ___________ /__________ Convenience ___________ /__________ Other
You can search for these types of competitors online (by doing a simple web search), or you can directly ask your current and potential customers what they are using already. You can also look for your direct and indirect competitors on websites such as Crunchbase and Product Hunt, and you can search for them in the Google Play and the iOS App Store.
Knowing your business’ target audience and matching it up with where they live or work helps you find those who might be most interested in your product or service. For example, a ticket broker might want to advertise NCAA basketball tickets in the state of Kentucky and might think of using Kentucky basketball in its messaging. However, Louisville basketball would be preferable for any advertising within 50 miles of the city on the Kentucky side of the border and 70 miles into Indiana due to the strength of Louisville’s fan base in those areas.
Reason: If visitors find your website with a certain keyword but you have a high bounce rate, that’s enough to know that something is not going as it should. Ask yourself and test if it is a problem with content quality, appearance, etc. There is often more than one explanation for a high bounce rate, and there could be more than one solution. If you are totally lost at this point, a feedback session with five potential users might provide some insightful ideas.
“The sales cycle is an average of 9-12 months. When a qualified lead enters the funnel, the revenue generated from that lead is an unknown variable that will not be fully identified until several months into the cycle. In order to increase the probability of a PPC lead turning into a viable source of revenue we need to generate leads at a ratio of high ratio of sales quality leads to conversions (roughly 65%). We will continue to test new targeting in order to reach our 20% YoY growth goal at a reasonable average CPA in order to continually grow the account and keep the sales funnel full every month.”
For example, say you have a clinic in Des Moines, Iowa. Someone looking at your social media advertising in California isn’t likely to come to your clinic. A geotargeted campaign would help you find social media users that need your clinic and live in your area. And if you have multiple locations, you can run geotargeted social media ads in each area where you want to increase your customer base.
The risk to this approach is that it isn’t always terribly accurate beyond the city to zip code level. If, for example, you were to use MaxMind’s demo service to locate your own IP, it will likely show you perhaps a mile away from your actual address, likely at the nearest network node, the point at which your computer connects to your ISP’s network infrastructure.
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Competitive analyses help you evaluate your competition’s strategies to determine their strengths and weaknesses relative to your brand. When it comes to digital marketing and SEO, however, there are so many ranking factors and best practices to consider that can be hard to know where to begin. Which is why my colleague, Ben Estes, created a competitive analysis checklist (not dissimilar to his wildly popular technical audit checklist) that I’ve souped up for the Moz community.
Comparative user testing to the rescue: you ask the participants to evaluate your website as well as the websites of your top 2 competitors. To avoid biased feedback, try not to disclose which company you are with, and mix up the order in which you show the websites to the participants. Not to overwhelm the participants, limit the number of websites to 3 per person.
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.
When a competitor is identified, have your sales team dive deeper by asking why they are considering switching to your product. If you've already lost the deal, be sure to follow up the with prospect to determine why you lost to your competitor. What services or features attracted the prospect? Was it about price? What's the prospect's impression of your sales process? If they've already made the switch, find out why they made this decision.
In order to get more specific with our audience, we set up our targeting to focus on those people that Facebook says are interested in moving. We narrow our age range slightly to exclude those too young to (probably) be looking to sell their home, and also include some demographic and behavioral targeting traits. We target those who are “likely to move” and those within a range of incomes and net worths that we like:
Location history of a consumer provides a lot of information specific to that person: where they like to shop, what they like to buy, how often they make the trip, and even how they get there. Obtaining this information gives great insight to marketers that enhances the ability to target consumers and deliver relevant, responsive location specific ads and information, even if the consumer is not currently in that area. <<<