AdvertisingNot only does advertising copy tell you a competitor's price and other product information, it provides an indication of your competitor's entire promotional program and budget. When reading a competitor's advertisement be sure to note the following: publication, frequency, special offers, product features and benefits highlighted. If your competitor suddenly places an advertisement in an industry publication that neither of you are currently selling to, it's an indication that they're trying to reach a new market segment. It's also important to notice the design and tone of your competitor's advertisements. What kind of image do they convey? How does your own image compare? Are their advertisements in color while your own are black-and-white? Even if they're not, a clever advertising campaign can communicate that your competitor is an innovative, fresh company.
In the last year, Google and Bing have both indicated a shift to entity-based search results as part of their evolution. Google has unscored this point with rich snippets and Knowledge Graph, and Bing has now upped the ante on personal search results with Bing Snapshots. Find out how you can adopt strategies to stay ahead of the curve in the new world of semantic search results.
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.
An important distinction to make before we begin is that a Competitor Analysis is not a Product Comparison. Although we may make mention of the types of products sold, we should not be including the detailed product features in a Competitor Analysis. Quite often, two seemingly distinct products can solve the same customer problem or satisfy a similar need. At its core, a Competitor Analysis is a document that evaluates the strengths and weaknesses of your rivals.
Your keyword strategy should make clear which “keyword groups” you focus on. It doesn’t have to be a long list of keywords (though it doesn’t hurt to have one). Your keyword strategy should be a definition of a group of keywords that you’re tackling. Every time you’re writing new content you can have a quick look at those groups and pick a new keyword that falls in line with the strategy.
You and your competitors are competing for the attention of potential customers. That’s why it's useful to know how your competitors use social media channels and paid acquisition channels to reach their target audience. While digital channels are key in today’s marketplace, you also need to pay attention to offline channels like events, meetups, conferences, and direct mail. This is where the face-to-face interactions occur that are often the key to establishing connections and sealing deals. You can usually find out information about offline events by visiting the “Events” section of your competitors’ websites and also searching for their names in relation to conferences and events on the wider web.
The use of semantic search has completely changed the way we perform modern search queries today. A decade ago, people stuck with what was short and simple. If they wanted to find the best pizza places in New York City, they would type in “Pizza New York.” However, with Google’s Hummingbird update and the algorithmic improvements to semantic searches, people now are more inclined to type in “Where is the best pizza place in New York City.”
You need a keen understanding of your ideal customer and the market so that when you launch, your product is positioned correctly in the ecosystem of all products and services. Since competition can come from anywhere, you need to catalog your strengths and weaknesses relative to both direct and indirect category leaders (i.e., those adjacent to your core business).
Svitlana Graves Svitlana Graves is a digital marketer with a focus on conversion optimization. She enjoys combining in-depth customer research with data to conduct smart experiments. At the moment Svitlana is taking clients’ revenues to new levels as part of CRO Team at 3Q Digital. On a personal note, Svitlana loves Latin Dance and foreign languages. She speaks 5 and is learning her 6th.
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. <<<