It simplified the ways that an organization can compete into four: cost leadership, differentiation, the focus on cost, and the focus on differentiation. Since the inception of Five Forces there has been a lot of discussion about how helpful the categories are, but it seems to be part of everyone’s strategy and competitive toolbox, especially for MBAs.
You may be wondering why these seemingly different strategies are included as one. The reason is that the strategy is the same: Getting the most out of your budget. The only difference is the tactics to achieve that strategy. Sure you may need to look at different metrics and dimensions of your campaigns to maximize your budget, but in the end you achieve the same thing.
Unfortunately, whilst digital marketing provides these tools, most advertisers still find themselves in a situation where they don’t know what is working. The ubiquity of search engines in our modern lives has led advertisers to skip straight past considerations for strategy, planning, and measurement and dive straight into tactical marketing efforts like Pay-Per-Click and SEO, where they are as equally unsure if their efforts are delivering a meaningful return for their business.
- Hi, I'm Matt Bailey. Welcome to keyword strategy in depth. Keyword research is the fundamental building block, for all of your on-line marketing efforts. It goes beyond optimizing your website, to enabling a better connection when marketing to your audience, as you are using their language. We'll begin by finding sources for keywords, seeing how search engines deliver different results based on the types of keywords, and building your keyword lists. Next, I'll demonstrate how to effectively sift through the keyword data, in ways that maximize your ability to understand the searcher, and derive their intent. We'll see how to implement your keywords throughout the content of your website. Then, I'll demonstrate how to setup an initial Google AdWords campaign, utilizing your keywords, and avoiding the top five mistakes that companies make in AdWords. I've been marketing online for nearly 20 years, and I love to teach people how to be successful in their own businesses with the tools, tips, and experience I've learned along the way. Now, let's get started.
Along with understanding how your potential customers are searching for your company and/or product online, you also need to decide what part of the sales process you want to target. Are you looking to start a prospecting campaign that attracts users at the very beginning of the process, and then convert them later via email marketing or retargeting? Or do you want your website to be shown in front of in-market searchers who are looking to buy right away?
SpyFu displays side-by-side data on your competitors' paid and organic search results, so you can easily see where it's more cost-effective to bid on a particular keyword as opposed to trying to rank for it organically. That way you can use your time more efficiently by writing content around those keywords that drive a lot of traffic but are more expensive to bid on.
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.
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.
Exhaustive – Your keyword research should include not only the most popular and frequently searched terms in your niche, but also extend to the long tail of search. Long-tail keywords are more specific and less common, but they add up to account for the majority of search-driven traffic. In addition, they are less competitive, and therefore less expensive.
Long-tail keywords: Longer keywords or specific phrases might not be used as search queries as frequently by your audience. In the above example, for instance, it’s likely that a freelancer looking for a coworking place queries ‘coworking bristol’ rather than ‘coworking space in bristol’, however, the traffic generated by all combinations of long-tail keywords can provide your site as much traffic as the short-tail keywords. And why would you risk losing any opportunity you have to be present on search engines? We are not the only ones saying this, HitTail also give facts about long-tail keywords; about 70 percent of queries are long-tail.
1,000+ keywords: if it’s just you or 2 of you, this is probably more than you can chew off. It’s not hard to gather 1,000 keywords though, so if you’ve got the time, the people and the inspiration, it usually does pay off to write a lot of meaningful content. Do make sure that all those keywords relate to your products or services as otherwise it’s nonsense and make sure that you’re structuring your site well around it.
Long tail keywords are longer word phrases. They are specific phrases searchers are more likely to use when doing a specified search. Due to the more tailored nature of long tail keywords, it is important to create a theme around these phrases. Doing so will increase your business’ rank in search engine results. A generic single keyword is not as valuable as multiple keywords that match a user’s search. In short, long tail keywords prove that, as far as B2B SEO goes, less is not always more. Once you’ve compiled a list of “long tail keywords” that describe a certain theme, you can begin conducting your keyword research.
Unfortunately, I can’t answer all of these questions for you. But I will offer up one solution, and that’s the valuable question of where to begin. Segmenting out an audience is often one of the most important and daunting tasks for a marketer. But the work is worth it. Segmenting visitors into audiences is going to make conversion marketing campaigns more relevant and effective. An easier way to segment is by using something called geo-targeting.
Some very general words such as “marketing” or “business” are very competitive, making it harder to rank well for them in search engine results. If you are a small- or medium-sized business, you probably want to choose less competitive keywords, more specifically related to your business (these are commonly referred to as long tail keywords). The greater the volume of searches on a keyword, the more competitive it is. There are a number of different tools you can use to determine thecompetitiveness of a specific keyword as well as suggest and help you brainstorm new keyword ideas.
As of 2017, there are over 5,000 products in the martech sphere alone competing for business in complex and overlapping ways. Some companies leverage their expertise and resources to enter new markets. Salesforce is a great example; look at the number of martech categories it’s listed in. With so much competition, SaaS companies can't win on features alone; they must win on brand and customer experience.
The assumptions that a competitor's managers hold about their firm and their industry help to define the moves that they will consider. For example, if in the past the industry introduced a new type of product that failed, the industry executives may assume that there is no market for the product. Such assumptions are not always accurate and if incorrect may present opportunities. For example, new entrants may have the opportunity to introduce a product similar to a previously unsuccessful one without retaliation because incumbant firms may not take their threat seriously. Honda was able to enter the U.S. motorcycle market with a small motorbike because U.S. manufacturers had assumed that there was no market for small bikes based on their past experience.
L’Oreal did something similar when it used geolocation technology to create a virtual art exhibit that allowed attendees to uncover the art and feel as though they were right there looking at it. Brands can also use geolocation technology in mobile apps that include gamification aspects to engage a user more fully in a particular product or service.
SEMrush isn't free, but it will give you the comprehensive data you need to make smart decisions about what keywords to target. It's also easy to use. Let's say your company wants to be the first name to show up when someone searches for "solar panel installation." Type that keyword into the Phrase Match tool within SEMrush, and you'll be able to see that term along with other related terms.
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.
A quick and easy way to compare your product or service with similar ones on the market is to make a competition grid. Down the left side of a piece of paper, write the names of four or five products or services that compete with yours. To help you generate this list, think of what your customers would buy if they didn't buy your product or service.
In writing the summary and the presentation for the competitive analysis that I did for this collaborative note-taking app, the competitive analysis matrix helped me a lot. I drafted a document with all of the high-level takeaways from this analysis and answered all of the questions that were set as goals. For the presentation, I shared the document with the client, which helped both the client and me to finalize the features, the flows and the end requirements for the product.
A transactional sales approach to customer acquisition is best for products with a higher average selling price (ASP) then self-service solutions. Customers expect to see a demo, or even try the product. In fact, when customers are paying more, they expect more hand-holding throughout the process. While this can drive up organizational costs and complexity for a SaaS vendor, it can yield significant revenues and long-term customer loyalty. For this approach, companies need to optimize their sales, marketing, and support in a way that allows them to build a relationship with the customer over the customer lifetime. Most SaaS companies fall under this category.
Let’s start with an easy one: target the areas your business serves. If your restaurant has one location in Chicago, set your search campaigns to only show to searchers in and around Chicago! If you’re an ecommerce site that serves the Pacific Northwest, don’t show your ads outside of Washington, Oregon, Idaho, Montana, and Wyoming. This is the most basic way to ensure that you’re not wasting clicks – and money – on consumers who can’t convert.
Of course, many small businesses don’t have the time or expertise to run tests on the successes and failures of their PPC campaigns. This is why simplified tools that use complex machine learning to do the testing for you are so helpful to manage PPC for small businesses. If you’re a small business owner and want to take it on yourself though, follow the winning strategies above to get started on the right track!
SEO competitive analysis is critical because it gives data about which tactics are working in the industry we are in and what we will need to do to start improving our keyword rankings. The insights gained from this analysis help us understand which tasks we should prioritize and it shapes the way we build out our campaigns. By seeing where our competitors are strongest and weakest, we can determine how difficult it will be to outperform them and the amount of resources that it will take to do so.