The strategic rationale of competitor profiling is simple. Superior knowledge of rivals offers a legitimate source of competitive advantage. The raw material of competitive advantage consists of offering superior customer value in the firm’s chosen market. The definitive characteristic of customer value is the adjective, superior. Customer value is defined relative to rival offerings making competitor knowledge an intrinsic component of corporate strategy. Profiling facilitates this strategic objective in three important ways. First, profiling can reveal strategic weaknesses in rivals that the firm may exploit. Second, the proactive stance of competitor profiling will allow the firm to anticipate the strategic response of their rivals to the firm’s planned strategies, the strategies of other competing firms, and changes in the environment. Third, this proactive knowledge will give the firms strategic agility. Offensive strategy can be implemented more quickly in order to exploit opportunities and capitalize on strengths. Similarly, defensive strategy can be employed more deftly in order to counter the threat of rival firms from exploiting the firm’s own weaknesses.
On the positive side, you can have personalized ads appear for every search query, and improve account performance by increasing CTR and quality scores. On the other hand, if not set up correctly DKI ads can hurt your account if you don’t take into account plurals, misspellings or any other grammatical errors that can occur. Like any strategy, DKI ads require time, testing and good organization to be most effective.
Before you begin, you’ll need to identify six brands to compare your website against. These should be your search competitors (who else is ranking for terms that you’re ranking for, or would like to rank for?) in addition to a business competitor (or two). Don’t know who your search competition is? You can use SEMRush and Searchmetrics to identify them, and if you want to be extra thorough you can use this Moz post as a guide.
While doing the marketing competitor analysis you have to consider everything in SWOT. For that, you need to assess the external factors. This is where the PEST analysis comes into play. By doing the PEST analysis, you are getting to know how your competitors will react when there is a change. Will they consider that change an opportunity to do better or see it as a threat? This will give you an idea as to how your rivals operate. You can even base your marketing strategy on their ideas. Supposing there is a social change and your competitors cannot deal with it. However, your firm can. So you will try to strategize to take full opportunity of that social change so that you come out better than your opposition.
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.
Beyond the city level, your geotargeting on Facebook can further narrow your targeted customers to within miles. For example, a fairly standard radius is 10 miles and closer when you’re targeting a specific product or service in a particular vicinity. If you’re in a more rural setting, you can expand that radius to 20 or 25 miles. Urban areas like Chicago, Los Angeles and New York are targeted within one mile.
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.
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.
Jeff Baum is Director of Services at Hanapin Marketing and a seasoned PPC advertising professional with Hanapin Marketing. a 13 year track record of success in digital advertising. He has developed and implemented strategies to substantially grow revenue and profits for a variety of lead generation and e-commerce businesses. He has also been responsible and accountable for managing hundreds of thousands of dollars in PPC advertising spend per month. Jeff is a recurring writer for Hanapin's blog and PPC Hero.
When an ad mentions the target customer’s region or city, such as Chicago, this approach has proven to deliver a much better response rate than running a national campaign that doesn’t include a location. “It goes back to the messaging aspect,” Fritz explains. “Your geolocation ad targeting is much more effective. That’s because it connects more deeply with prospective customers than a generic advertisement. You are running a social advertisement that is very specific to someone in a particular place. This could be Cleveland, New York City, Miami, Dallas, Los Angeles, or whatever area you have targeted.”
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
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.
This is another great way to position yourself as a “go to” for information within a community. Surround your campaigns or newsletters around what’s going on in a specific area. If a town that you have a lot of subscribers from holds an antique fair once a year, use it in your marketing campaign. In your newsletter for that area, include tips and tricks on how to bargain prices, articles about the best booths from the year before and sales surrounding your own products that would speak to that target audience.
Informational: These keywords represent the very beginning of the conversion process, and are not very likely to convert on the first visit. If you’re running a branding campaign you’ll want to be sure to include informational keywords on your list. If you’ve got a conversion goal, you still can’t afford to ignore these keywords as they make up the majority of searches. Informational keywords often use words/phrases like "how to", “do I need” and “where to find”. Consider these leads to be converted later via your website or a retargeting campaign.
1. More Powerful Personalization, Targeting and Campaign Analysis Capabilities: The capability for ever-more-specific PPC ad personalization and targeting (plus re-targeting) is available, but underused. You can, of course, target demographics and persona characteristics like age or income, customer type or purchase history/level (existing, repeat, prospect), sales funnel position, company role (for B2B ads) and more. Beyond these basics, you can now map the customer journey, learn how the visitor came to you and/or see much of the path taken to buy. This “attribution” insight can significantly improve the ROI of your 2018 campaigns; you’ll see what’s working and what isn’t, for better PPC strategies.
The errors in technical SEO are often not obvious, and therefore one of the most popular. Mistakes in robots.txt and 404 pages, pagination and canonical URLs, hreflang tags and 301 redirects, http vs https and www vs non www versions: each of them can seriously spoil all efforts to promote the site. One quality SEO website analysis is enough to solve all the main problems in this part forever.