But switching costs, or the cost that a customer incurs as a result of switching products, still exist. Technology can be a driver of higher switching costs. When a product is integrated with multiple systems and APIs, switching to another product becomes increasingly difficult. Such a switch usually results in business interruption and the need to retrain staff, among other unwelcome effects.
In writing the summary and the presentation for the competitive analysis that I did for this collaborative note-taking app, the competitive analysis matrix helped me a lot. I drafted a document with all of the high-level takeaways from this analysis and answered all of the questions that were set as goals. For the presentation, I shared the document with the client, which helped both the client and me to finalize the features, the flows and the end requirements for the product.
Next, indicate with a check mark which of your competitors has which features. Features are fairly straightforward, either a product has a feature or it doesn't. Benefits, on the other hand, are not as simple and should only be recorded based on customer feedback. For example, company B may claim in their company literature that their copier is fast, but a user may feel otherwise. Or, company B may indeed have a copier that by industry standards is fast, but you may have a copier that's even faster.
This chapter discusses how to establish goals to measure the success of our campaign. These should be directly tied to the stated objectives, as well as being measureable and achievable. It is important to track as many actions, goals, and engagement data as possible. This is what really drives understanding and insight from your analytics data and will allow you to assess which campaigns are delivering the goods.
Unfortunately, whilst digital marketing provides these tools, most advertisers still find themselves in a situation where they don’t know what is working. The ubiquity of search engines in our modern lives has led advertisers to skip straight past considerations for strategy, planning, and measurement and dive straight into tactical marketing efforts like Pay-Per-Click and SEO, where they are as equally unsure if their efforts are delivering a meaningful return for their business.
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.
Analyze Competitive Information Once you've gathered all of the competitive data you have been able to locate, it's analysis time. You should analyze to determine product information, market share, marketing strategies, and to identify your competition's strengths and weaknesses. Product Evaluation You should know from your sales staff and customer feedback what product features and benefits are most important to your customers and potential customers. A product's or service's competitive position is largely determined by how well it is differentiated from its competition and by its price.
Once your ad is displayed, it’s likely to be clicked by only a tiny percentage of people who search for such a broad term, making it less likely to be displayed in the future. And even if you create an ad that’s broad enough for those searchers to reliably click, they’re unlikely to find exactly what they’re looking for on your landing page. You’re paying a lot for poor-quality traffic.
In the figure below, you can see I have set up a keyword rating spreadsheet. I first gathered keyword data from a keyword tool to populate the orange columns. In this example, I used the Google AdWords Keyword Tool. From there I began looking at each keyword and gave each one a score from one to 10. For some I built a formula to automate the process, which comes in handy with larger keyword lists.
IT is more cost-effective to target already existing demand to increase your market share for more qualified leads. For more tips on how to prioritize your keyword strategy and your comprehensive search campaigns, check out Directive’s Complete Guide to B2B Marketing and Demand Generation. And be sure to subscribe to our blog for weekly updates on the most innovative industry-leading tactics!
The errors in technical SEO are often not obvious, and therefore one of the most popular. Mistakes in robots.txt and 404 pages, pagination and canonical URLs, hreflang tags and 301 redirects, http vs https and www vs non www versions: each of them can seriously spoil all efforts to promote the site. One quality SEO website analysis is enough to solve all the main problems in this part forever.