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.
We at Moz custom-built the Keyword Explorer tool from the ground up to help streamline and improve how you discover and prioritize keywords. Keyword Explorer provides accurate monthly search volume data, an idea of how difficult it will be to rank for your keyword, estimated click-through rate, and a score representing your potential to rank. It also suggests related keywords for you to research. Because it cuts out a great deal of manual work and is free to try, we recommend starting there.
Benchmarking is the important key factor for any marketing campaign. You should always keep an eye on your competitors. How their ads are appearing, what keywords they are using and plan your strategy accordingly. Never create ads, which looks similar to your competitor’s ads. You should smartly design your ad copy, which should look better than your competitor’s ad.
You’ll often find your hottest leads among people who have already encountered your business once. Depending on your industry, it may be unlikely for people to purchase your product the first time they visit. If you’re an e-commerce operation selling lower-ticket items, you may be able to send people directly to a sales page with excellent results. But if you’re like the dishwasher store we invented above, visiting your PPC landing page may be one step in a larger research process for your customers.
Geotargeting is the practice of delivering content to a consumer — via mobile or web — using geographic location information about that individual. At a basic level, a business can restrict its reach to consumers only located in a defined geographic area such as a state or a city. But location often provides much deeper, more meaningful and identifiable traits that tell you what a person wants, needs or is interested in.
Do they have separate marketing messages for different segments? Sometimes, you might see a stark difference between how your competitor markets their business for one type of customer versus how they present themselves to another type of customer. For example, if you're trying to sell services as a math tutor to high school students who are struggling to pass their math subjects, you'll be making a completely different pitch than you would to those students who need additional help with their SAT math so that they could get into prestigious universities. Your message to the struggling students might be closer to "I'll help you finally pass your math tests!" While your message to the other market will be similar to "I'll help you get into the school of your dreams!" Also, be sure to note if your competitor does something similar with their own customer segments.
Preparing a Competitor Analysis is an activity that all Product Managers undertake at some point in the job. As Product Managers, having solid knowledge of our rivals and their activity in the marketplace helps us make better decisions during the strategic product planning phase. It ensures that we’re ready to respond to our competitors and exploit any weakness in order to gain a larger share of the pie.
Conducting PPC marketing through Google Ads is particularly valuable because, as the most popular search engine, Google gets massive amounts of traffic and therefore delivers the most impressions and clicks to your ads. How often your PPC ads appear depends on which keywords and match types you select. While a number of factors determine how successful your PPC advertising campaign will be, you can achieve a lot by focusing on:
Take Coca Cola and Red Bull for example. They have massive marketing budgets, and the majority of that budget goes into branding and (I am guessing) very little attention is paid to determining the ROI of each individual activity they sponsor. They just know that the more they can build equity in their brand, the more products they will sell. The result? They are some of the most recognizable brands in the world. They are also extremely profitable at the end of the year – they just achieve that profitability differently than what we are used to seeing as direct response marketers.