As a manager, this may take the form of believing that people with less experience but lots of initiative tend to outperform experts. It may mean looking past the traditional resume. As an entrepreneur, this may be a conviction that some social stigma, like sleeping in someone else’s home (Airbnb), wearing someone else’s dress (Rent the Runway) or persistently sharing your location with all your friends (FourSquare), will lessen over time and eventually disappear.
Beyond the city level, your geotargeting on Facebook can further narrow your targeted customers to within miles. For example, a fairly standard radius is 10 miles and closer when you’re targeting a specific product or service in a particular vicinity. If you’re in a more rural setting, you can expand that radius to 20 or 25 miles. Urban areas like Chicago, Los Angeles and New York are targeted within one mile.
It's quite likely that no prospect or customer reads your press releases as carefully as your competitors do. Press releases are helpful in understanding a company’s strategic focus. Sometimes PRs show your competitors’ customer count. The About section in a press release shows your competitor's strategic messaging. These two to five sentences are how your competitor wants their customers and prospects to perceive the company and its products.
When setting up conversion experiments that test different page elements, it may be valuable to make a prior segmentation that is location-based. Testing different ideas and approaches when location is taken into account, usually creates very interesting insights. What will work better for your funnel – showing your traffic from Spain pages in Spanish or English? Will you quote Euro or Dollar?
Another thing you need to do in order to maximize the effectiveness of your PPC campaigns is increase the quality and relevancy of your landing page content and user experience. These two elements have a big influence on whether or not leads will convert between your PPC ads and landing pages. A poorly designed or irrelevant landing page is a sure way to tank conversion rates.
“The sales cycle is an average of 9-12 months. When a qualified lead enters the funnel, the revenue generated from that lead is an unknown variable that will not be fully identified until several months into the cycle. In order to increase the probability of a PPC lead turning into a viable source of revenue we need to generate leads at a ratio of high ratio of sales quality leads to conversions (roughly 65%). We will continue to test new targeting in order to reach our 20% YoY growth goal at a reasonable average CPA in order to continually grow the account and keep the sales funnel full every month.”
A logo offers a brief glimpse into a company’s branding language. This section will quickly provide your audience with that value, as the different colors and imagery will give life and organization to your document by separating the competitors’ brands from each other. When it comes to adding your competitors’ logos, make sure to use high-quality images. Including words like “vector” and “high-res” to your Google search will bring in superior results. Make sure your logos are consistent across the board. (Most companies have both with-text and without-text logo variations — double check to make sure it’s the same format for each of your competitors.)
What’s the difference between your brand and your keywords? Are you using both effectively? Your brand is one of your most important keywords, but it shouldn’t be your only keyword, nor should you have lots of keywords but no brand. There should be a keyword strategy behind the keywords you pick. This post highlights the why of that and explains the basis of the how, then points you to several useful posts for the how.
Then, a few months ago, I was driving around town and the beloved Comedy Attic had a brand new LED Sign. A beautiful high-resolution digital sign manufactured by my client. I had a fangirl moment in my car upon recognizing my client’s name in small letters underneath the sign. Next call I had, I mentioned this moment to the client. I asked when that lead came in. The client looked up The Comedy Attic and divulged the sign was purchased in March 2018. The purchase came from a lead that came into the funnel in July 2016.
You should invest in having a well-structured filing system, both in the office and digitally. Use neatly organised folders with clear and relevant names on them for all of your documents, bills and emails. By doing this, you can free up hours of the day to work on important tasks, such as drumming up more business through a new and exciting marketing strategy. You will also be setting an example for your team by having an organised office and computer.
You cannot expect your employees to stick to their schedules and stay organised if the person at the top doesn’t do the same. As the leader of your start-up, you need to set an example for your staff, which means that you have to be the most organised person in the company. While it is important to ensure your employees follow suit, try not to be too overbearing about how they choose to organise their days.
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.
It’s easy to get frustrated when stakeholders ask how to rank for a specific term, and solely focus on content to create, or on-page optimizations they can make. Why? Because we’ve known for a while that there are myriad factors that play into search engine rank. Depending on the competitive search landscape, there may not be any amount of “optimizing” that you can do in order to rank for a specific term.
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.
Another way to do this is to analyze the keywords that are driving traffic to your site and match the user intent to the right page of your site. In the figure below, you can see a typical buy cycle for a new searcher. They will start off using broad keywords to get a general idea of what content is out there. Searchers who use these broad terms would infer that they’re in the information gathering stage of their search. So ask yourself, which page on your site is best suited to help them gather the information they’re seeking? Do you have an article, how-to, or comparison page you can lead them to that helps them get the information they need?
6. Use social media to help provide context for user intent. Another important keyword strategy is to align your social media efforts, especially the “listening” part, to help provide context to your targeted keywords. I have outlined a few ways in this column to infer user intent by keyword but to see the search term used in a tweet or blog will provide a much better context to user intent and usage. You can gauge user wants, needs, and sentiment that will help you as you construct your landing pages with keyword-relevant content.
Say your e-commerce site focuses on college students. Target promotions to local coffee shops within a couple miles of your store front that students frequent. Students that bring in a receipt from the coffee shop to your brick and mortar store get a special discount. You can push this email campaign to users that are within a 10 mile radius of the coffee shop and your store.
Small businesses typically don’t have the budget or the amount of data necessary to take advantage of the benefits machine learning offers PPC marketers. If they’re not using a marketing agency to manage PPC that gives them access to machine learning optimization, they can also sign up directly. Acquisio’s Promote product was designed for small business owners to use with a monthly subscription model, simplifying ad creation and set up while allowing ad spend amounts as low as $100 using machine learning optimization. They explain in a past post about the small-business-machine-learning conundrum.
Knowing your business’ target audience and matching it up with where they live or work helps you find those who might be most interested in your product or service. For example, a ticket broker might want to advertise NCAA basketball tickets in the state of Kentucky and might think of using Kentucky basketball in its messaging. However, Louisville basketball would be preferable for any advertising within 50 miles of the city on the Kentucky side of the border and 70 miles into Indiana due to the strength of Louisville’s fan base in those areas.
To determine your company's market share on a percentage basis, thefollowing formula should be used: Current Market Share = Company sales Industry salesYou should then compute each of your competitors' market shares. It will give you a clear idea of how your sales volume compares to your competition's. If you don't have total industry sales figures you won't be able to figure out your market share, but you can still get a good idea of your competitive position by comparing the sales volume figures. For example, say last year Company A sold $3 million dollars worth of copiers, Company B sold $5 million, and you sold $4 million. It's obvious that Company B has the largest share of your market and is your greatest competitor. Competitive Objectives and Strategies For each competitor in your analysis, you should try to identify what their market objectives are and determine what types of strategies they are using to achieve them. Are your competitors trying:
I include specific, real world examples of every type of content in the wild as well as showing you how I design keyword architecture on my sites. I even provide a general model and walk you through exactly how to make decisions on what levels of architecture should get a dedicated URL versus what content should live on parent pages or use JSON/AJAX to not generate new URL's but still provide an ideal user experience.
Be sure to re-evaluate these keywords every few months -- once a quarter is a good benchmark, but some businesses like to do it even more often than that. As you gain even more authority in the SERPs, you'll find that you can add more and more keywords to your lists to tackle as you work on maintaining your current presence, and then growing in new areas on top of that.
The enterprise sales process is reserved for highly complex products sold at a high price. Because enterprise products provide so much value and prospects take longer to evaluate the product, companies must adopt a complex selling process and longer sales cycles. Selling to large enterprises with a high ASP means competing against rivals with high-touch sales models.
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.
While doing the marketing competitor analysis you have to consider everything in SWOT. For that, you need to assess the external factors. This is where the PEST analysis comes into play. By doing the PEST analysis, you are getting to know how your competitors will react when there is a change. Will they consider that change an opportunity to do better or see it as a threat? This will give you an idea as to how your rivals operate. You can even base your marketing strategy on their ideas. Supposing there is a social change and your competitors cannot deal with it. However, your firm can. So you will try to strategize to take full opportunity of that social change so that you come out better than your opposition.
Page Content: The days of minimum keyword density are gone. The number of times you use a keyword is really determined by the length of your content. If you are creating unique, quality content your will naturally use your keyword throughout your page. Sprinkle latent semantic keywords throughout your content to strengthen the page’s topical relevance.
Then, within your campaigns, you will have your ad groups. Ad groups should be formed based on themes of keywords. For example, all keywords that relate to dark chocolate could go into one ad group (ie. Dark chocolate bars, dark chocolate for sale online, best dark chocolate shops, where to buy dark chocolate, dark chocolate with almonds etc.). Again, keep your ad groups to a minimum when you are starting. You don’t need more than 6-8 ads within each campaign. Try to limit the amount of keywords per ad group to 10 to 20 per ad group. The keywords will be the trigger for the PPC ads that will appear in searches containing those words.
Make a list of product features and benefits in order of importance, and prepare a table to show whether or not each of your competitors fulfill them.For example, Medium-sized companies that purchase copier machines may look for the following product benefits and features when making buying decisions: Competing Company: A B C D Features: 1. Auto paper feed 2. Auto enlarge or reduce 3. Collates 4. Staples 5. 24 Hour Repair Service 6. Warranty Benefits: 1. Easy to operate 2. Saves money 3. Good print quality 4. Dependable 5. Fast Price: $ Other factors you may want to evaluate include:
Understanding which websites already rank for your keyword gives you valuable insight into the competition, and also how hard it will be to rank for the given term. Are there search advertisements running along the top and right-hand side of the organic results? Typically, many search ads means a high-value keyword, and multiple search ads above the organic results often means a highly lucrative and directly conversion-prone keyword.
Annual ReportsIf your competitor is a publicly-held company, many of its reports to the U.S. Securities and Exchange Commission are available on the SEC-Edgar Web site. Annual reports provide financial information, including sales volume, revenue increases, and their total market share. 10-K reports provide still more detail, and are supplemented by the quarterly 10-Qs. 8-Ks show significant events such as acquisitions and board membership changes when they occur between 10-K and 10-Q filings. Annual reports from privately-held corporations are sometimes available through friends, relatives, and business acquaintances who own stock in a competitor's company.
The final and most important metric is conversion. Make sure that you set up your conversion goals within your analytics. That way you can see which keywords are not only driving traffic but out of that traffic what percentage is converting. That is how you can measure keyword success. If you’re not doing this, then it becomes more difficult to identify your highest performing keywords.