Conduct a business download meeting. I meet with key stakeholders to learn everything I can about the business and the industry they compete in. Is the business itself growing or struggling? What about the industry as a whole? I use this time to learn what has worked and not worked from a PPC perspective and to determine if PPC performance goals are realistic and achievable (or if they exist at all).
Region-specific marketing is currently utilized in a variety of marketing campaigns. A fairly basic marketing concept can be used, but it is presented to a location or market that has shown a demand for that specific product or service. This can be a certain State, City, neighborhood or even a specific building. Programs like Google Adwords lets you target these specific locations and tailor your marketing. On a more broad scale, you can target a certain demographic based on their language.
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.
Keyword research is a time consuming and continuous activity. Create your list of core keywords at the time of campaign planning and you should constantly refine and expand your keyword list for long-tail, low cost and highly relevant keywords. Another important step in keyword research is to review high cost, under performing keywords. Remove these keywords from your list.
This emphasis on competition is related to the advent of game theory in the mid 20th century around the same time. The problem is that game theory is one mental model of many to help make decisions, not the only one (Ben Thompson from Stratechery has a good post on the Prisoner’s Dilemma that is a fundamental one). Even researchers are starting to point to the fact that there are no perfect solutions (such as a Nash equilibrium) to most situations.
Without machine learning reducing the cost of PPC for small businesses, it’s true that they typically aren’t willing to spend the necessary budget to see results. Traditionally (are you sitting down?), —anything under $500 a month is not worth it. In fact (take a deep breath), you probably won’t see great results with a budget of less than $1000 a month.
SpyFu displays side-by-side data on your competitors' paid and organic search results, so you can easily see where it's more cost-effective to bid on a particular keyword as opposed to trying to rank for it organically. That way you can use your time more efficiently by writing content around those keywords that drive a lot of traffic but are more expensive to bid on.
Truly awesome stuff Zee! For those involved in doing competitive analysis for Local SEO, I would also add GMB Completion/Optimization, and NAP Profile Quantitiy/Quality (which can be checked via MozLocal and Majestic SEO). The conversion part of your analysis that you laid out is especially important in my opinion. Thank you for writing and sharing your insight!
This is really helpful, i just find out the list of top 3 competitors and follow the same backlinks process for my site as well. But here i found some new tips of keyword gap analysis for competitive analysis. Thank you so much for sharing i will follow all your step to do new competitive analysis for my client and try to improve my ranking on most competitive keyword top realtor for Fastexpert.com. Thank you once again.
All sorts of companies in all sorts of industries can make use of geo-targeting. By refining the ad copy to include the city name and a reference to the current weather – for example, including the words “start sleeping cooler” in an ad during periods of hot weather – Purple Mattress, an ecommerce bedding brand has been able to generate higher click-through rates by online shoppers. In an effort to update its aging "Let's Go Places" campaign, Toyota incorporated city-specific information into each of its Google ads, encouraging consumers to go to places and attractions near them. Whole Foods targeted ads to the smartphones of consumers visiting nearby supermarkets, encouraging them to come to a nearby Whole Foods nearby exchange for better deals.
Knowledge of a competitor's objectives facilitates a better prediction of the competitor's reaction to different competitive moves. For example, a competitor that is focused on reaching short-term financial goals might not be willing to spend much money responding to a competitive attack. Rather, such a competitor might favor focusing on the products that hold positions that better can be defended. On the other hand, a company that has no short term profitability objectives might be willing to participate in destructive price competition in which neither firm earns a profit.
It doesn’t take a marketing expert to know that marketing is a complex endeavor. With so many moving pieces, it can be hard to decide what you should focus on. What mediums do you prioritize? How do you narrow down your target audience? How do you rank better on search engines? Should you have a social media campaign? And if so, which social media platform should drive that campaign? And where in the world do you even begin to dig into this stuff?
Trade AssociationsMost professional trade associations compile and publish industry statistics and report on industry news and leaders through trade association magazines and newsletters. Most trade associations also sponsor trade shows and other professional meetings. This is an opportunity to see first-hand what your competition is producing. It also provides the opportunity to discover new players who may soon become your competition.
For example, “Austin gyms” or “coffee shops near Dupont Circle” or “uptown restaurants” provide location intent that you can target. Include location terms such as area code, ZIP code, neighborhood, community name, nearby landmarks, popular venues, tourist destinations, well known street names, local jargon and other keywords that will help you get found when a consumer is searching for businesses around you.
As you consider new ideas for your next project or business, give extra credence to the things you believe to be true that others doubt. The most exciting products are created by people with tons of conviction for something that strikes most others as odd. I’ve heard from Joe Gebbia, co-founder of Airbnb, that when he and his co-founder Brian Chesky pitched the idea of having strangers sleeping in your home when you weren’t there, many investors shifted uncomfortably in their seats.
Estimated Costs: Creating content to adequately target specific keywords will require varying amounts of time, money, and effort. In some situations, you might find that targeting a certain keyword also allows you to SEO your landing page at the same time. So be on the lookout for shortcuts that might make ranking for a keyword more cost-efficient than it would otherwise be. That’s how you can find real money-makers!
Choosing landing pages for your keywords is an important element of your keyword strategy, and can be critical for both your SEO and your user experience. Look at it this way: When you click through to a site that really isn’t relevant to your search, what do you do? You most likely leave that page after a few seconds and likely won’t consider it in the future. So having poorly optimized landing pages can cost you sales. But they’ll also damage your SEO efforts, making it hard to rank.
Typically, VCs make just one bet in a product category to avoid cannibalizing their investments. You are either an Uber or Lyft investor. This is a commonly accepted view in the Valley. If you see a VC’s name missing from the category you’re competing in, they might be a good candidate to approach for fundraising. They missed the chance to invest in your competitor, but now they have the opportunity to work with you.
For our clients, we typically gain a few backlinks at the beginning of an SEO campaign just from this data alone. It also serves as a long-term guide for link building in the months to come as getting links from high-authority sites takes time and resources. The main benefit is that we have a starting point full of low-hanging fruit from which to base our initial outreach.