Competitive analyses for SEO are not something that should be overlooked when planning a digital marketing strategy. This process can help you strategically build unique and complex SEO campaigns based on readily available data and the demand of your market. This analysis will instantly put you ahead of competitors who are following cookie-cutter SEO programs and not diving deep into their industry. Start implementing this process as soon as you can and adjust it based on what is important to your own business or client’s business.
If you aren’t aware of buzzwords in your industry or the terms your potential audience will search to try to find you, you need to do some more research or you will definitely be losing people. In Jerry’s case, he has office space for rent as individual desks in a common room. He needs to realize that the term his potential audience will use to search for that is ‘coworking’. A five-minute keywords change would provide Jerry with a clearer vision of his website’s performance and a greater likelihood of being found through search. Check out the revised keywords below:
For small businesses, PPC can be competitive and expensive, which is why many struggle to break through. Especially when they are competing with bigger companies with sophisticated digital marketing departments and huge budgets. The good news is it IS possible for small businesses to compete with larger, established companies for clicks. Being a little bit smarter and nimble will make all the difference.
They differ in many aspects, from gender to age; from organic to paid; from 1024×768 to 320×480 and onwards. More significantly though, people arrive to your site from across the world: from different countries and languages, different currencies and climates, and a whole assortment of cultural expectations. Hence, even if you have a “.com” English only site, you may very well be an international business by default.
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.
When I was working with BLADE, an Uber-like helicopter service, we wanted to know why people would pay $600 for a 5-minute long helicopter ride from Manhattan to the airport, but not the other way. In this particular case, our competitor was sitting alone in a black car in traffic back to the city. The benefit was that they weren’t really in a rush and they could catch up on things. It was the only time they could be alone with their thoughts.
As you can see, we not only changed which keywords to track (the core of the SERPs tool) but also the location setting of the search engine. As a local business, most of Jerry’s customers will come from the UK. Using this setting rather than the general Google setting will give him much more accurate results on how his keywords rank in his location.
For example, if a user from a high income neighborhood visits a car dealer’s site or clicks on a paid search display ad, that consumer may be directed to a landing page displaying a luxury vehicle, while consumers located in a lower income area may be targeted with a deal on an economy vehicle. The higher income consumers may be more interested in deals such as cash off or lower interest rates whereas those in lower income brackets may be more receptive to lower monthly payments.
Are they targeting low, middle, or high income customers? Look at their pricing information, including how they phrase it. If they use words like discounts, sale, affordable, or cheap, then they aren’t targeting the high income crowd. Also look at the marketing materials themselves, whether it’s a brochure or online banner. Are they attention-grabbing or elegant?
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.
It's important to note your competitor's actions over time. For example, if one of your competitors is consistent with pricing, product features, promotion, and their market share it may mean that they're not exploring or exploiting additional market opportunities. Or, if one of your competitors has a decline in sales volume it may mean they will be employing new marketing strategies in the near future and should be monitored closely. Identify the Competitions Strengths and Weaknesses In order to develop effective competitive strategies, you need to make a realistic assessment of your competitors' strengths and weaknesses, as viewed by the market. You need to ask yourself what each of your competitors do very well, better than your own company? Then, ask yourself in what areas are each of your competitors weak. Construct a simple chart. The copier company's might appear like this: Strengths and Weaknesses of Competitors Competitor: Strengths Weaknesses A. Superior customer service 3-year warranty Higher price B. Quick innovator Unique features Higher price Limited distribution channels C. Large market share Lower price Comprehensive ad campaign Viewed as market leader by market segment Slower product No direct access to parts Other Factors to Consider
Think about what else is around you. Don’t just think about where you are; think about what’s around you. Are you a restaurant near a stadium or an airport? Encourage people to stop by after the big game, before that Ed Sheeran concert, or for a graduation celebration in your ad copy. If you’re a boutique fitness studio, advertise to people who are health-conscious and attending the farmer’s market nearby. Put these suggestions into your copy to increase in-store events.
On the other hand, version B not only communicates the valueof the cyber security business (protecting other business’s data from hackers and cyber attacks), but also acknowledges the potential customer. The copy in version B also addresses the fact that what the viewer is likely looking for in such a company is a sense of security, and caters to that with the words “protect” and “safe”.
Location history of a consumer provides a lot of information specific to that person: where they like to shop, what they like to buy, how often they make the trip, and even how they get there. Obtaining this information gives great insight to marketers that enhances the ability to target consumers and deliver relevant, responsive location specific ads and information, even if the consumer is not currently in that area. <<<