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.
Then how can someone afford to pay $54.20 per click if it does not generate profit? The answer is simple: they are spending that money to build a brand and they are not focused on the profitability on that individual click; they are focused on profitability over time and they most likely have a budget assigned to building that brand. Not having to focus on achieving profit for individual click puts a company at a tremendous advantage for displaying their brand prominently in search results. It also makes it harder for profitability based marketers to compete.
A company rarely competes against just one competitor. In fact, in many cases, the biggest competition in the SaaS and tech industries is coming from indirect competitors. These competitors hold a commanding position in their core market, allowing them to expand into different industries and verticals. Who would have thought that Uber and Google would become die-hard competitors in the autonomous car market? As I wrote previously in my analysis of sales enablement and acceleration industry, it is almost impossible to distinguish direct and indirect competitors. In many SaaS verticals everyone competes with everyone.
3. Mapping keywords to the right landing pages. One way to insure you get the best results from your keyword campaigns is to make sure there is very high relevance between the keywords you use and the associated landing pages. This is a very important principle. What happens when you click on an organic listing or a PPC add from a SERP (search engine results page) and the content has little to zero keywords on that page that you used to search on? Right, you bolt and head back and click on another link. Make sure your landing pages are optimized to handle your keyword traffic to make them relevant.
One of the major promises of enterprise PPC management tools is that they employ bidding strategies that will save you all kinds of money by trimming down your cost per click through intelligent bid algorithms. These algorithms often let you adjust bids by just about any variable available in the AdWords/Bing API’s (you can even create calculated metrics) and adjust bids according to these rules in order to reduce costs. What they usually don’t tell you is the best way to set them up or provide algorithms to you that work out of the box. They give you the fishing line, but don’t always teach you to fish. They are a tool, and what we need is a PPC strategy.
Many people believe that a competitive analysis is unnecessary because they feel that they have a good handle on who their competition is and what they offer. But a competitive analysis can also be used when trying to break into a new market. By conducting a competitive analysis for an environment you are unfamiliar with, you are able to model a new business that included many features that your competitors are likely to offer as well as some unique ones that may drive customers away from their typical company.
Volume. The number of searches for that phrase each month. What's a decent volume? It depends on your industry. If you're in a niche industry, like compliance, 100 monthly searches might be as good as it gets. If you offer something with more broad appeal, like furniture, you could expect to see hundreds of thousands of searches each month. Whatever the case, aim for higher volumes, but know that the higher the volume, the more difficult it will likely be to stand out among your competitors. Which brings us to the next number...
PPC or Pay per click advertising is an Internet advertising model which is used to generate clicks to your website. It is the way of directing traffic to your website using relevant keywords related to your product or services. It is a paid traffic and an advertiser will pay an amount to the publisher each time the ads get clicked. Pay Per Click or PPC is one of the effective strategies applied in the search engine marketing campaign. Learn more about PPC Campaign and it’s benefits. If your ad campaign is not well optimized and you are not following PPC best practices, your ROI will be impacted. It is important to spend some time in planning your ad campaign.
A company’s slogan, tagline, mission statement and unique value proposition — all of these are important when determining how you stack up against your competitors. What is the company’s key positioning and how does it compare with other companies in this space? How do they describe themselves? This section is your opportunity to include what you feel is valuable descriptive information.
It’s easy to get blindsided by our own opinion on “high-quality” content. You might be thinking you have an awesome idea that everyone wants to read about, but how do you know with absolute certainty that it’s really that great? And even if your hunch is spot on and you’ve discovered something truly worth sharing, how do you quantify its value? How do you find the right content marketing keywords?
This checklist is broken out into sections that reflect key elements from our Balanced Digital Scorecard. As previously mentioned, this checklist is to help you identify opportunities (and possibly areas not worth your time and budget). But this competitive analysis is not prescriptive in and of itself. It should be used as its name suggests: to analyze what your competition’s “edge” is.
a) Look for any gaps ("0's") on you score sheet and try to fix them. Yes, to an extent–an "ideal" score would be all "4s" down your brand's column. However, that's not always possible and highly unlikely. That said, it might not be the most pertinent thing to address technical SEO issues if you can see that your area of greatest weakness is, for instance, building an audience. Look for the greatest difference in performance between your brand and your competitors, which will illuminate what their main legs-up are.
Now the ad servers don’t create this table themselves, they license it from another company like MaxMind or DigitalEnvoy, whose primary business is geolocation data. This is no enviable task; IP addresses themselves don’t necessarily have an obvious pattern in the way they are assigned like a telephone area code would. It’s a bit like solving a mystery, and the geolocation companies use a variety of methods to approach the problem. /injects>