Tertiary Competition: This category includes businesses that are tangentially related to yours, and really comes in handy when you’re looking to expand your product catalog. These could be related products and services that are trending, as well as businesses that may be beneficial to partner with further down the line. For instance, if you sell jewelry, a tertiary competitor may sell gems and stones.
It is crucial to separate business and personal finances – and to be very prudent in the first few years of running your business, especially when you start making profit. Keep tight record, develop regular forecasts, avoid overdrafts, watch interest rates, keep track of expenses, bank all income, self-fund if possible and check bank statement regularly. Re-invest your profits into the growth and development of the business, the reward will be well worth the investment.
Every time a search is initiated, Google digs into the pool of bidding AdWords advertisers and chooses a set of winners to appear in the ad space on its search results page. The “winners” are chosen based on a combination of factors, including the quality and relevance of their keywords and ad text, as well as the size of their keyword bids. For example, if WordStream bid on the keyword “PPC software,” our ad might show up in the very top spot on the Google results page.
Geotargeting is a practice frequently deployed by such restaurants and brick-and-mortar businesses looking to drive local foot traffic, but it isn’t exclusively the province of these verticals. Even sports teams have gotten in on the action, targeting fans that are at (or have been to) a particular stadium or event in order to drive ticket sales, app downloads, and more.
More and more consumers are finding businesses online through search engines. How do they find them? By using keywords! Fortunately, you can take advantage of this consumer habit by optimizing your website around the keywords that are relevant to your business and which keywords consumers are using to find you online. This will increase your chances of getting found by people searching with those keywords, which will drive more and better quality traffic to your business’ website.
Finally, some strategies will drive both efficiency and growth within an account. For example, concluding an ad copy test based on CTR, conversion rate, or conversion per impression can increase revenue and improve ROI. However, these strategies typically show incremental long-term improvements, and are less likely to ramp revenue or improve ROAS in the short-term.
When looking at competitors for the PwC field service operations group there were lots of competitors (including paper printed out and stuck to the wall). What was interesting was that most of the competitors were originally independent companies, but then acquired by larger companies. What was most helpful was looking at how each organization’s strategy changed their end goals. In the case of Field Service Lightning it was originally about the CRM capabilities of SalesForce, but is now about the integration of machine learning for Salesforce’s Einstein.
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.
Now the ad servers don’t create this table themselves, they license it from another company like MaxMind or DigitalEnvoy, whose primary business is geolocation data. This is no enviable task; IP addresses themselves don’t necessarily have an obvious pattern in the way they are assigned like a telephone area code would. It’s a bit like solving a mystery, and the geolocation companies use a variety of methods to approach the problem.
The gap between your goal and your recent performance should guide how you choose from the menu of strategy options. If you have aggressive growth targets and are consistently meeting or exceeding your ROAS threshold, then you should primarily focus on growth initiatives, and sprinkle in a few efficiency optimizations to ensure that you’re not wasting spend. If you are not achieving your ROAS goal, you’ll want to focus primarily on efficiency optimizations. If you fall somewhere in the middle of these two scenarios, you should select an even mix of growth and efficiency efforts.
A company rarely competes against just one competitor. In fact, in many cases, the biggest competition in the SaaS and tech industries is coming from indirect competitors. These competitors hold a commanding position in their core market, allowing them to expand into different industries and verticals. Who would have thought that Uber and Google would become die-hard competitors in the autonomous car market? As I wrote previously in my analysis of sales enablement and acceleration industry, it is almost impossible to distinguish direct and indirect competitors. In many SaaS verticals everyone competes with everyone.
According to Nielsen Norman Group’s “User Experience Careers” survey report, 61% of UX professionals prefer to do the competitive analysis for their projects. But what exactly is competitive analysis? In simple language, competitive analysis is nothing but a method to determine how your competitors are performing, what they are offering and how well they are doing it.
Keyword Competition tools can make things much easier on your keyword strategy. Some tools include the Adwords Keyword Planner (you can tailor this for B2B) and MozBar. Google Adwords help you discover and compare new keywords. MozBar helps you check keyword competition against other B2B business sites. Some tools must be purchased, such as Long Tail Pro. This tool identifies profitable long tail keywords focused on your content.
If you're a regular blogger, these are probably the topics you blog about most frequently. Or perhaps they're the topics that come up the most in sales conversations. Put yourself in the shoes of your buyer personas -- what types of topics would your target audience search that you'd want your business to get found for? If you were a company like HubSpot, for example -- selling marketing software (which happens to have some awesome SEO tools ... but I digress ;-) -- you might have general topic buckets like "inbound marketing," "blogging," "email marketing," "lead generation," "SEO," "social media," "marketing analytics," and "marketing automation."
Both geo-fencing and geo-targeting can be done on mobile, tablet, computer, or even gaming devices with internet access. When it comes to deciding which is best for your marketing, think of who your target customer is. If you are interested in advertising to a population of all ages and all interests, geo-fencing is perfect for you. If you are only interested in hitting only a specific consumer demographic that is more niche, then you should be doing geo-targeting.
Some examples of typical insights from this document would be the average number of referring domains that our competitors have and how that relates to our own backlink profile. If we are ahead of our competitors regarding backlinks, content creation might be the focal point of the campaign. If we are behind our competitors in regards to backlinks, we know that we need to start a link building campaign as soon as possible.
Device targeting is important nowadays since most of the users are using mobile devices to browse the web. Use device targeting to reach your best customers on any device. With device targeting, you can customize your ads for different mobile devices and operating systems. This way you can target people who are online on mobile devices or using different operating systems.
The first case is quite simple yet happens often. So for example, you have not sold tandem bikes for years (and had the word “tandem” in a negative list), then you started to sell them again. But your PPC specialist forgot to remove the word from negatives, and now you are left wondering why you are not getting any traffic for this keyword. To avoid this situation, check your negative keyword lists regularly and bring the relevant keywords back to life.