A FINAL WORD [top] Schedule a competitive analysis on a regular basis, as you do for inventory and other business functions. Depending on what market you're operating in it could be every two months or once a year. Consider employing a college student for the summer or create student internship positions to fulfill the task. You must remember that your competitive research and analysis is never finished. This is on-going, rather than a one-time process. Your competition can change quickly, new players can emerge tomorrow, the economy may upswing or downswing at any moment. It's only when you clearly understand your competition that you can evaluate your own market position. Only then can you exploit their weaknesses to your competitive advantage and seek to improve your own marketing efforts. CHECKLIST [top] ___ Have you identified your direct and indirect competitors? ___ Do you know how the customers in your target market rate your product in comparison with your cometitors'? ___ Have you compiled the intelligence you have gathered on each competitor in a format that fosters comparison of features and market postions? ___ Do you have strategies for building on your strengths and minimizing your vulnerability where you have weakenesses? Do you have strategies for minimizing the value of your competitors' strengths and taking advantage of their weaknesses? ___ Have you communicated the competitor information and your strategies to every worker who needs to know? In research and development? In production? In marketing and sales? ___ Have you established procedures for keeping your industry and competitor profiles current? RESOURCES [top] Books Competitive Intelligence for the Competitive Edge, by Alan Dutka. (NTC Business Books, 1999). Brief discussions of competitive intelligence activities are followed by extensive real-life case-study examples. Web Sites "Do You REALLY Know What The Competition Is Doing?" by Darrell S. Mockus. Journal of Business Strategy 24:1 (January-February, 2003), 8-10. "Spies Like Us," by Carole Ashkinaze. Business Week (July 12, 2000), F4+. "Face-to-Face: Spies Like Us," by Stephanie L. Gruner. Inc. 20:11 (August 1998), 45 (7). "Spy Away," by Mark Henricks. Entrepreneur 28:3 (March 2000), 98. Fuld and Company. What Is CI?. Society of Competitive Intelligence Professionals. "Competitive Intelligence vs. Espionage," by Fred White. ThomasNet Industrial Newsroom, May 22, 2007. Writer: Susan MaGee All rights reserved. The text of this publication, or any part thereof, maynot be reproduced in any manner whatsoever without written permission from thepublisher.
After setting your campaign goal and choosing the right platform for your ad, the next step is to plan your ad targeting for your most relevant audience. There are two types of targeting. You can target audience for a specific geographic location and you can also optimize your campaign for a specific device type, operating systems and wireless networks.
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.”
The assumptions that a competitor's managers hold about their firm and their industry help to define the moves that they will consider. For example, if in the past the industry introduced a new type of product that failed, the industry executives may assume that there is no market for the product. Such assumptions are not always accurate and if incorrect may present opportunities. For example, new entrants may have the opportunity to introduce a product similar to a previously unsuccessful one without retaliation because incumbant firms may not take their threat seriously. Honda was able to enter the U.S. motorcycle market with a small motorbike because U.S. manufacturers had assumed that there was no market for small bikes based on their past experience.
Using negative keywords in PPC campaigns is an often overlooked but highly effective strategy. These are keywords that you add to your campaign that you don’t want to target. Adding negative keywords will let Google know that it should not show your campaigns in searches that include these words. This is a crucial step in order to make sure that you don’t waste money by displaying your ad for irrelevant searches.
1,000+ keywords: if it’s just you or 2 of you, this is probably more than you can chew off. It’s not hard to gather 1,000 keywords though, so if you’ve got the time, the people and the inspiration, it usually does pay off to write a lot of meaningful content. Do make sure that all those keywords relate to your products or services as otherwise it’s nonsense and make sure that you’re structuring your site well around it.
To create a similar chart, start with your website goals and map them to a potential visitor’s goal. For example, you may want to generate more event space inquiries, which means potential visitors to your website would likely be searching for an event space. Now ask yourself: what do people searching for an event space type into Google? If I were looking for this type of product or service, how would I search for it on the web?
Like most advertising techniques, geo-targeting predates the internet. Local papers, radio and television programs have long been used to reach customers in a particular region with ads. These advertisements were customized for the local audiences where possible, a process that we now call optimization. Digital technology has simply made this practice more widespread. The major innovation that has increased the effectiveness of geo-targeting is the addition of other data points beyond simple location.
That’s right. Unfortunately, all those slight tweaks to your ad copy and bidding strategies actually do very little in terms of turning leads into customers. So, what exactly should you do to PPC campaigns to maximize conversion potential? Don’t fret—there are actually quite a few things, and we’re going to teach you about each one of them. Below, check out the strategies you should be focusing on to achieve ultimate results.
Website. What’s the first thing visitors see in your competitor’s website? Is there much text on the website, and if there is, what does it emphasize about your competitor’s business? Do they have customer reviews and testimonials? Make note of the design as well. Is their website static and minimalist, or does it have animation and other interactive features? Apart from judging the copy, design, and features of the site itself, does the site rank well for relevant search terms that you think your potential customers could use? If you’re selling handmade leather wallets, try doing a Google search for “handmade leather tool wallets” and see if any of your competitors are in the first few pages.
For example, within the HubSpot Blogging App, users will find as-you-type SEO suggestions. This helpful inclusion serves as a checklist for content creators of all skill levels. HubSpot customers also have access to the Page Performance App, Sources Report, and the Keyword App. The HubSpot Marketing Platform will provide you with the tools you need to research keywords, monitor their performance, track organic search growth, and diagnose pages that may not be fully optimized.