Based on your competitor’s marketing message, what kind of customer does the viewer have to be for these messages to appeal to him or her? What is their age range? Where do they have to be located? What's their profession, if any? What other customer demographics can you infer? You're essentially trying to come up with a "buyer persona", a character who best represents the person your competition is trying to reach.
If you’re an ecommerce business, then you need to be running Google Shopping Campaigns. Consumers use Google’s search engine on a daily basis to find all kinds of products that they need (including yours), and running Google Shopping campaigns can help you connect with them. These campaigns pull product information, such as the product image, price, and merchant name, from your company’s Merchant Center data feed and conveniently display them to the viewer. Because it pulls this data each time a user makes a search inquiry, you can be assured that your product ads are always up to date and accurate (so long as you keep your data feed that way), keeping your potential customer from feeling confused or frustrated.
You cannot expect your employees to stick to their schedules and stay organised if the person at the top doesn’t do the same. As the leader of your start-up, you need to set an example for your staff, which means that you have to be the most organised person in the company. While it is important to ensure your employees follow suit, try not to be too overbearing about how they choose to organise their days.
Katey Ferenzi has lived and breathed ecommerce for +10 years. In the mid-2000s, she and her husband started their own online business and successfully exited so they may come to Bigcommerce to teach other SMBs how to do the same. Currently, she's consulting for Jasper PIM, a Product Information Management (PIM) solution focused on unifying back-office operations with front-end shopping experiences for mid-market and enterprise businesses looking to scale.
Best used to reach users who: live or move about in a certain area, for whom you have other data like preferences or demographic info Best used to find users who: are nearby your store, venue, or service; users who are in your parking lot, or entering a mall, for example Best used to reach users who: are in a certain aisle of your store; who are on a certain bus or train; who are moving through a space like a museum
For this reason, some companies have taken a more direct measurement approach to IP geolocation vs. trying to infer it through ping triangulation. It’s far more straightforward, but requires a lot more manual effort. Basically, these companies send cars out to drive up and down every street in the country and log WiFi IP addresses as well as their physical location to populate the same table that more traditional geolocation companies build through technical means. Google and Skyhook both use this approach.
When you conduct your competitive analysis, it's worth analyzing the sales models of your competitors. In his article Three SaaS Sales Models, Joel York describes the three most common SaaS sales models based on the relationship between price and product complexity. Companies with low priced and low-complexity products must focus on developing a self-service option so they can maintain a healthy relationship between customer acquisition cost (CAC) and customer lifetime value (CLV). Slack, Trello, Dropbox, GitHub are all low-price, low-complexity products.
"Cloaking" via IP delivery works differently from cloaking via "user agent". While IP address spoofing is harder than user-agent spoofing and more reliable, it is also harder to keep the list of IP addresses used by search engines for their crawlers up-to-date. An outdated list with active crawler IP addresses missing enables the search engines to detect the cloaking and may result in a removal of the site from the search engine's index.
It’s important to remember that online shoppers are humans, and to treat them as such. The examples below show two versions of the same ad for a fake cyber security business. While version A does provide potential customers with information about the company and the services it offers, it fails to address them as people or speak to the challenges or pain points they might be experiencing.
The metrics you provide here will depend on the depth of your research. Be sure to keep it consistent by including criteria that can be answered for all competitors. Providing specific, additional information for just one competitor will give your document a bias. As far as gathering publicly available information, here are the first places to look. For company size, LinkedIn is a great resource for discovering the approximate number of employees. Financial details? Check Yahoo Finance and Wikipedia for relevant information. Want to get an idea of their website’s traffic and ranking score? Search on Alexa. More Free Resources: AngelList, Crunchbase
How do current customers rate the following features of your business compared to your competition.Rate the following as: fair, good or excellent. Our Company / Competition ___________ /__________ Price ___________ /__________ Quality ___________ /__________ Durability ___________ /__________ Image/style ___________ /__________ Value ___________ /__________ Name Recognition ___________ /__________ Customer Service ___________ /__________ Customer Relations ___________ /__________ Location ___________ /__________ Convenience ___________ /__________ Other
Your conclusion should be presented to other business stakeholders especially when you’ve decided the next steps. For example, you may alter your Product Roadmap as a result of the competitor analysis. Sales and marketing teams may benefit from summaries that contrast your product with key competitors and emphasise your product’s strengths so that they can take this message to market.
Surprisingly, you can mine a lot of useful intelligence from employee reviews on Glassdoor. Because employees leave anonymous feedback, they don’t hold back on what they love (and don’t love) about their employer. You can often uncover cultural aspects of the organization by reading how employees perceive senior leadership and whether or not they enjoy working there.
Research Access suggests many other ways that geolocation can help improve the market research process. For example, a consumer products company could use geolocation to “understand how frequently a sample of shoppers visits different grocery chains,” or an auto manufacturer could apply it to collect “a sample of minivan-driving moms to better understand how the product is used.” There are a multitude of ways geolocation can help improve understanding and inform strategic direction for companies of all sizes so they can more closely meet their prospective targets’ desires.
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.
Your entire PPC campaign is built around keywords, and the most successful AdWords advertisers continuously grow and refine their PPC keyword list (ideally, using a variety of tools, not just Keyword Planner). If you only do keyword research once, when you create your first campaign, you are probably missing out on hundreds of thousands of valuable, long-tail, low-cost and highly relevant keywords that could be driving traffic to your site.
A logo offers a brief glimpse into a company’s branding language. This section will quickly provide your audience with that value, as the different colors and imagery will give life and organization to your document by separating the competitors’ brands from each other. When it comes to adding your competitors’ logos, make sure to use high-quality images. Including words like “vector” and “high-res” to your Google search will bring in superior results. Make sure your logos are consistent across the board. (Most companies have both with-text and without-text logo variations — double check to make sure it’s the same format for each of your competitors.)
Another easy, yet possibly expensive, way of testing geo-location is using a PPC platform such as AdWords. You can set your campaign targeting to very specific locations and languages, as well as set the destination URLs of your individual ads. Similarly, this will require a set of landing pages for each campaign, but delivers results very quickly. You may be able to run a fast, data rich, and location-based conversion analysis with little more.
It works like this – if there is an IP address the company wants to locate, they ping it from a few of their servers, for which they already know the location. A ping is just a way to test if a computer can connect, and how long it takes to do so, but doesn’t transmit any meaningful data. Then, by looking at the time it takes each server to connect, it can establish a shared point or origin, and thereby physically locate the user. It uses the public IP locations to validate their approach and check for anomalies in network latency which would lead to bad data.
Keywords are the crucial foundation for online marketing efforts, and in this course, author Matt Bailey shows how you best structure search engine optimization and pay-per-click plans around the insights you glean from keyword research. He helps you explore the sources for keywords and build a keyword list with research and management tools like Raven Tools, Moz, SEMrush, and Wordtracker. He shows you how to filter and interpret keyword data, observe trends, and better understand the intent of the searcher, and how to develop an informed strategy and implement keywords throughout your site for maximum searchability. Matt also covers how to apply your keyword insights to Google AdWords campaigns and measure the results of your SEO and AdWords efforts.
No matter how marketing-savvy your company may be, you can always learn more about your customers, especially when it comes to personalizing your advertising. That’s where geotargeting can again be beneficial. The information received from geolocation can help a brand determine where a consumer is looking so it can better tailor events, products, and services to those consumer interests in the near future.
Once you know your target audience, you can easily aim your advertisements towards areas where your target audience would be. Bonobos, an online male clothing store, did a great job of this when they were launching their Guide Shops pop-ups. The “store” would serve purely as a try on and styling area. Once you ordered clothes, they’d be sent to your house directly.
What’s the difference between your brand and your keywords? Are you using both effectively? Your brand is one of your most important keywords, but it shouldn’t be your only keyword, nor should you have lots of keywords but no brand. There should be a keyword strategy behind the keywords you pick. This post highlights the why of that and explains the basis of the how, then points you to several useful posts for the how.
When looking at competitors for the PwC field service operations group there were lots of competitors (including paper printed out and stuck to the wall). What was interesting was that most of the competitors were originally independent companies, but then acquired by larger companies. What was most helpful was looking at how each organization’s strategy changed their end goals. In the case of Field Service Lightning it was originally about the CRM capabilities of SalesForce, but is now about the integration of machine learning for Salesforce’s Einstein.
By using organisation techniques, such as document processing solutions and an outsourced document collection service, you will be able to improve customer service. Problems with organisation can lead to a drop in customer service, which is highly detrimental to any start-up. Customer satisfaction is key to any return business, which is why you need to be organised.
Other EmployeesYour employees working in other areas of the company also become exposed to competitive information. They interact with others in their industry area and often learn what your rival is doing or hear gossip and rumors. Make sure your entire staff knows they should share any information concerning the competition immediately. Former employees of a competitor can provide you with insight on: your competitor's new products, marketing strategies, how-to improve productivity and employ other resources more effectively, and what your competitor's general working environment is like.
If your account is currently achieving a return on ad spend (ROAS) of 5, and your goal is to achieve a ROAS of 6, your strategy should focus on efficiency optimizations to improve ROAS. If your account is achieving a ROAS of 5 and your goal is to increase revenue as long as your ROAS is at or above 4 (and you have additional budget to spend), then your strategy will need to focus on growth initiatives.
Google Ads operates on a pay-per-click model, in which users bid on keywords and pay for each click on their advertisements. Every time a search is initiated, Google digs into the pool of Ads advertisers and chooses a set of winners to appear in the valuable ad space on its search results page. The “winners” are chosen based on a combination of factors, including the quality and relevance of their keywords and ad campaigns, as well as the size of their keyword bids.
If you have a poor billing system or are constantly losing invoices and important documents, soon your clients will move on to greener pastures (and more organised businesses). If you implement a strategy to become more organised, you will find your customer service improving. This will lead not only to return clients but to new business, as word-of-mouth travels about your professionalism and efficiency.
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.
Privacy and security concerns are, by many accounts, the one thing holding location based services back from exploding. One of the first backlashes came from Nordstrom customers, when that retailer tracked customers through its physical locations for market research purposes. The word “creepy” was applied at the time, and it’s still a word commonly found in discussions of how location-based marketing can tend to make people feel.
Small businesses typically don’t have the budget or the amount of data necessary to take advantage of the benefits machine learning offers PPC marketers. If they’re not using a marketing agency to manage PPC that gives them access to machine learning optimization, they can also sign up directly. Acquisio’s Promote product was designed for small business owners to use with a monthly subscription model, simplifying ad creation and set up while allowing ad spend amounts as low as $100 using machine learning optimization. They explain in a past post about the small-business-machine-learning conundrum.
When creating and implementing a digital marketing campaign, you first need to design your keyword strategy. This strategy is more than just finding keywords that will bring you the highest number of visitors. It’s a top-to-bottom concept that will influence how you design your site, select keywords, optimize your pages and measure the success of your campaign.
I analyze the story the competitors tell with their landing pages, their site UX, and transparency (reviews, trust). Then I adjust my wireframe, making sure my client’s page can stand up to all that and more. Sometimes all I need is a better visual design than the competitor’s, but often, it is a matter of better explaining the value proposition of the service/product and putting together a more logical flow of elements.”
Typically, VCs make just one bet in a product category to avoid cannibalizing their investments. You are either an Uber or Lyft investor. This is a commonly accepted view in the Valley. If you see a VC’s name missing from the category you’re competing in, they might be a good candidate to approach for fundraising. They missed the chance to invest in your competitor, but now they have the opportunity to work with you.
Online pay-per-click (PPC) advertising allows almost anyone to create ads. Each time your ad pops up online and someone clicks on it, you pay a small fee. PPC advertising appears in search engines like Google or Bing and on social media platforms such as Facebook, Twitter, LinkedIn, and Pinterest. The point of PPC is to get fresh visitors to discover your business online.
In reality, even profitability focused campaigns will have limits when it comes to budget, so our focus is often maximizing profitability within the budget we have allotted. This can mean bringing in fewer conversions at a lower cost per acquisition (CPA) and eliminating elements of campaigns that are under performing compared to your acceptable conversion goal. Mining search query reports, establishing negative keywords, bidding down on keywords with high CPA’s or no conversions are all techniques we employ in order to maximize our profitability within the parameters given.
7. Use a keyword research brief to share for unified messaging. The final tip is to attempt to break down the silos that are typical in medium to large organizations and share with them enough keyword data so they can be encouraged to use your targeted keywords in their respective messaging. One way to do this is to develop what I call a keyword research brief. This is simply a document that is like an executive summary of keyword research for your top keywords. This document should be no more than one to two pages. It should be a quick read. See an example of this below.
Still in the early phase of rollout, Store Visits is being added to the Adwords Estimated Conversion tool in order to track in-store visits directly from your AdWords account. According to a recent Google study, 32% of offline customers said that location-based search ads led them to visit a store or make a purchase. For businesses with physical stores, this tool could really help to show how your PPC ads are affecting your overall bottom line and marketing initiatives. To be eligible for the feature you must meet the following criteria:
"Since consumers know what they are looking for, you can optimize your content around the core needs and problems your target audience experiences. It is your job to build an SEO strategy by knowing what your customers are looking for. This will allow you to create relevant content that your customers want to read, and as a result, your content will rank higher in Google."
To use this feature, you’ll need at least 15 conversion in the last 30 days, though you should really only use it if you have more historic conversions in order for AdWords to more accurately adjust your bids to meet the target. If you’re selling a product or service that is particularly seasonal, keep a close eye on your Cost per Conversion target to make sure that AdWords doesn’t reduce your bids too much if you have a period where conversions aren’t happening as much as they were during peak season.
Examples like the above support metrics that find geotargeting doubles the performance of all kinds of marketing methods, from email campaigns to paid search. Per data from the Local Search Association’s LSA Insights database, it also doesn’t matter what vertical your business is in. The click-through rate for geotargeted mobile display ads was higher than the industry benchmark for all verticals.
PPC marketing is now a standard way for businesses to find new customers for their products and services. Yet many small businesses have been disappointed with their first steps into PPC. It can be a tricky marketing strategy. First-time PPC marketers often underestimate the time it takes to lay down the right foundations, the budget required, and the work needed to keep on top of your game.
How do you figure out what keywords your competitors are ranking for, you ask? Aside from manually searching for keywords in an incognito browser and seeing what positions your competitors are in, SEMrush allows you to run a number of free reports that show you the top keywords for the domain you enter. This is a quick way to get a sense of the types of terms your competitors are ranking for.
There are lots of questions, as yet unanswered. For example, when considering anonymity, is it okay if trackers gather data, but aren’t able to discern exactly who a user is? There are questions of security and privacy, and information one company might share with another. There are questions of choice: should customers always have to opt-in, or can opt-outs work, too? There are questions about who can and can’t be trusted with these services: your company, for example, versus, say, the U.S. government.
This is a great list! I especially appreciate the sample set of pages you recommended - oftentimes we ask clients we're onboarding who they consider to be their competitors, but once we start digging into their sites we see they're not necessarily "search" competitors or the sites just aren't that similar to be regarded as such in the search engine's eyes. At least these pages can help weed out any sites that just aren't built out to be similar to a client or are way ahead, so you can get an accurate comparison!