Do I Need to Analyze All of My Competitors? There are several markets where it is relatively easy to name every competitor. These are concentrated markets where only a handful of competitors exist. If this is the scenario for your product or service, you will need to develop an analysis for each competitor. The steel industry and automobile industry are examples of these types of markets. If you are selling in a market with many competitors, your job of analyzing the competition becomes a little more difficult. Since it is unrealistic to collect and maintain information on dozens of competitors, you will be able to save yourself valuable time, without sacrificing the integrity of your competitive analysis, by using the old 80/20 rule. In fragmented markets with many competitors, it is most probable that 80% of the total market revenues are accounted for by 20% of the competition. It's the 20% you would examine most closely. For instance, in the computer industry, the personal computer market, is represented by hundreds of clone manufacturers with the majority of the market being captured by a handful of manufacturers such as Compaq, IBM, and Apple. When using this approach it is important to keep abreast of your market for new and upcoming players who through some variable, whether it be new technology or an aggressive advertising campaign, may become a dominant player. What Means are Available to Limit and Control the Competition? Marketers of different brands of products will often pursue a particular market segment. Market Segmentation, which is the means of breaking down larger markets into smaller ones requiring different marketing mixes, is a means for strengthening and focusing your attempt to limit and control the competition. There are however, a broad range of strategies a business can employ in a competitive environment — from price changing and new packaging to improving customer service and new product development. CONDUCTING AND PREPARING YOUR COMPETITIVE ANALYSIS [top] Conducting and preparing your competitive analysis will follow these steps:
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HubSpot also has a campaign tool that allows you to associate keyword phrases, related blog posts, emails and landing pages with a particular campaign so you can get a better idea of the overall performance. If a particular set of keywords doesn't seem to be bringing in new site visits or converting leads to customers, it might be time to search for alternatives.
I mentioned earlier that I recently performed a competitive analysis for a collaborative meeting note-taking feature, to be introduced in the app that I was developing for a client. The goals for my research were very general because innumerable apps all provide this type of functionality, and the product I was working on was in the very early stages of development.
Long-tail keywords: Longer keywords or specific phrases might not be used as search queries as frequently by your audience. In the above example, for instance, it’s likely that a freelancer looking for a coworking place queries ‘coworking bristol’ rather than ‘coworking space in bristol’, however, the traffic generated by all combinations of long-tail keywords can provide your site as much traffic as the short-tail keywords. And why would you risk losing any opportunity you have to be present on search engines? We are not the only ones saying this, HitTail also give facts about long-tail keywords; about 70 percent of queries are long-tail.