To determine your company's market share on a percentage basis, thefollowing formula should be used: Current Market Share = Company sales Industry salesYou should then compute each of your competitors' market shares. It will give you a clear idea of how your sales volume compares to your competition's. If you don't have total industry sales figures you won't be able to figure out your market share, but you can still get a good idea of your competitive position by comparing the sales volume figures. For example, say last year Company A sold $3 million dollars worth of copiers, Company B sold $5 million, and you sold $4 million. It's obvious that Company B has the largest share of your market and is your greatest competitor. Competitive Objectives and Strategies For each competitor in your analysis, you should try to identify what their market objectives are and determine what types of strategies they are using to achieve them. Are your competitors trying:
Annual ReportsIf your competitor is a publicly-held company, many of its reports to the U.S. Securities and Exchange Commission are available on the SEC-Edgar Web site. Annual reports provide financial information, including sales volume, revenue increases, and their total market share. 10-K reports provide still more detail, and are supplemented by the quarterly 10-Qs. 8-Ks show significant events such as acquisitions and board membership changes when they occur between 10-K and 10-Q filings. Annual reports from privately-held corporations are sometimes available through friends, relatives, and business acquaintances who own stock in a competitor's company.
A first step is to try to articulate what market it is that you serve. Who are the customers in this market and what problem, need or want are they experiencing? Which organisations are currently satisfying these needs or wants and how do these organisations differ? If there are multiple products tailored to different market segments try to define the ways in which these products can be grouped together or set apart. Using simple 2×2 matrices (e.g. price vs. functionality) can help to categorise your competitors and help to show what customers are looking for.
If you want to see what people are talking about at any given moment, there's no better way than to check in with your social media channels. Most of us already do this throughout the day, but if you haven't tapped into your channels for keyword research, you're missing out on valuable insights. Here are just a few things you can uncover by typing a word or phrase into the Facebook search bar:
After setting your campaign goal and choosing the right platform for your ad, the next step is to plan your ad targeting for your most relevant audience. There are two types of targeting. You can target audience for a specific geographic location and you can also optimize your campaign for a specific device type, operating systems and wireless networks.
With a clear understanding of our objectives and audience, we can now determine how we want to target our prospects across the AdWords network. There are multiple targeting options available, from location to demographics and display ads to video ads. The trick is to tailor your adverts to deliver the best results based on how your users browse the web. This chapter provides you with the primary elements required to accurately target your campaign.
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.
Reason: When a visitor sticks around on your site for a minute or less, you can consider their stay to be negligible. When a visit exceeds that amount of time, the visitor has more potential for becoming a client and an increased chance of converting on your calls-to-action. If a visitor spends a considerable amount of time on your website, they are likely to come back or to take action on conversion areas you have included in your site (call-to-actions, downloads, contact forms, etc.).
Many marketers experience this issue during PPC campaigns: They’re attracting the attention of their audience and driving traffic with their ads, yes—but those website and landing page visits aren’t resulting in the amount of conversions they would have expected. If you are also experiencing this, your ads may be targeting consumers who aren’t quite in the decision stage of their buyer’s journey through the use of too many top-of-the-funnel (TOFU) keywords in your ad copy.
Now, to figure out state and postal code involves a more complex process. At the core though, the geolocation services build up a network of servers from which they can send out pings, or connection requests, and known physical locations of public entities like universities and government office IPs. Eventually, with enough data, the geolocation company has the capability to triangulate any IP on the web.
It's wonderful to deal with keywords that have 5,000 searches a day, or even 500 searches a day, but in reality, these popular search terms actually make up less than 30% of the searches performed on the web. The remaining 70% lie in what's called the "long tail" of search. The long tail contains hundreds of millions of unique searches that might be conducted a few times in any given day, but, when taken together, comprise the majority of the world's search volume.
Choosing landing pages for your keywords is an important element of your keyword strategy, and can be critical for both your SEO and your user experience. Look at it this way: When you click through to a site that really isn’t relevant to your search, what do you do? You most likely leave that page after a few seconds and likely won’t consider it in the future. So having poorly optimized landing pages can cost you sales. But they’ll also damage your SEO efforts, making it hard to rank.
Your CompetitorsYou probably see the owner of a rival organization at trade shows, association meetings, and perhaps even socially. You can garner a great deal of information through a simple, friendly conversation. People like to talk about themselves and share their success stories and concerns with business associates. Assign someone to check the competitions' Web sites regularly for pertinent changes and news. (And take a good look at your own: Do you say anything there that you'd just as soon not have your competitors see?)
But while many marketers understand the value of geotargeting, not many are likely to understand how the technology behind it works. Having a firm grasp on the technology though is actually critical in this case, as different solutions take different approaches to the problem of determining the physical location of a consumer, and the simplest solution is usually the least accurate. Just as traditional strategies don’t always translate well to digital, many desktop strategies don’t translate well to mobile.
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.
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.
A backlink gap analysis aims to tell us which websites are linking to our competitors, but not to us. This is vital data because it allows us to close the gap between our competitors’ backlink profiles and start boosting our own ranking authority by getting links from websites that already link to competitors. Websites that link to multiple competitors (especially when it is more than three competitors) have a much higher success rate for us when we start reaching out to them and creating content for guest posts.