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.
In particular, strategy is how the team aligns so that decisions made at any level are likely to be better for the longer term goals of the organization. If you don’t have that alignment, you will be constantly struggling to move the organization ahead, together. A well-executed competitive analysis provides the framing for how your group is the best one to take on the challenges and opportunities ahead.
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.
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.
Because of our idea that you should have one brand and several (hundreds) keywords, we’re not big fans of keyword domains at Yoast either. By using a keyword domain you bind your companies past, present and future to a single keyword. And with the abundance of new top level domains (TLDs) now available, you’ll have a very hard time buying all of the TLDs with the same keyword to keep out the competition.
1. Branding or converting strategy. One of the first things to consider in developing a keyword strategy is what you want to accomplish when you reach your target audience. Do you just want to generate an impression for branding purposes or do you want to invite them to your place where you get them to make a purchase? Here are three types of strategies to consider:
Twitter is also a great place to get guidance about what's popular as it relates to your search terms. Just type a word or phrase into the search bar and see what trending topics come up. You can also use social media monitoring tools like Hootsuite, which allows you to create a stream based on a particular phrase and monitor mentions of it, or TweetReach, which gives you a similar quick analysis.
Geo-targeting is virtually a necessity for businesses advertising online, since they cannot assume – as one can with traditional media, like newspapers or radio – where their audience is located. Luckily, this powerful tool is not hard to implement. For example, a small outfit like a pizza parlor with a finite delivery range can purchase online ads that only appear in the browsers of people with an IP address within the neighborhood. Geo-targeting also increases the opportunities for A/B testing. For example, a Japanese-speaking immigration lawyer in the U.S. may choose to run two separately geo-targeted campaigns: one locally for people looking to bring family over or maintain status in the country, and another one in Japan targeting people looking to emigrate.
Strategic technique used to evaluate outside competitors. The analysis seeks to identify weaknesses and strengths that a company's competitors may have, and then use that information to improve efforts within the company. An effective analysis will first obtain important information from competitors and then based on this information predict how the competitor will react under certain circumstances.
The enterprise sales process is reserved for highly complex products sold at a high price. Because enterprise products provide so much value and prospects take longer to evaluate the product, companies must adopt a complex selling process and longer sales cycles. Selling to large enterprises with a high ASP means competing against rivals with high-touch sales models.
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.
The final and most important metric is conversion. Make sure that you set up your conversion goals within your analytics. That way you can see which keywords are not only driving traffic but out of that traffic what percentage is converting. That is how you can measure keyword success. If you’re not doing this, then it becomes more difficult to identify your highest performing keywords.
Do I Need to Analyze All of My Competitors? There are several markets where it is relatively easy to name every competitor. These are concentrated markets where only a handful of competitors exist. If this is the scenario for your product or service, you will need to develop an analysis for each competitor. The steel industry and automobile industry are examples of these types of markets. If you are selling in a market with many competitors, your job of analyzing the competition becomes a little more difficult. Since it is unrealistic to collect and maintain information on dozens of competitors, you will be able to save yourself valuable time, without sacrificing the integrity of your competitive analysis, by using the old 80/20 rule. In fragmented markets with many competitors, it is most probable that 80% of the total market revenues are accounted for by 20% of the competition. It's the 20% you would examine most closely. For instance, in the computer industry, the personal computer market, is represented by hundreds of clone manufacturers with the majority of the market being captured by a handful of manufacturers such as Compaq, IBM, and Apple. When using this approach it is important to keep abreast of your market for new and upcoming players who through some variable, whether it be new technology or an aggressive advertising campaign, may become a dominant player. What Means are Available to Limit and Control the Competition? Marketers of different brands of products will often pursue a particular market segment. Market Segmentation, which is the means of breaking down larger markets into smaller ones requiring different marketing mixes, is a means for strengthening and focusing your attempt to limit and control the competition. There are however, a broad range of strategies a business can employ in a competitive environment — from price changing and new packaging to improving customer service and new product development. CONDUCTING AND PREPARING YOUR COMPETITIVE ANALYSIS [top] Conducting and preparing your competitive analysis will follow these steps:
It’s also best to look for those businesses that are of a similar size as yours. For example, if you’re a solo entrepreneur selling handmade potholders online, big chain grocery stores usually aren’t your direct competitors, even if they might carry handmade potholders in their inventory. Instead, look for other small to medium scale producers of handmade potholders and similar kitchen accessories.
You need to develop tactics to recognise and double down on the deep conviction you have in your gut that nobody else understands. Stop looking for consensus or opportunities that seem obvious and compelling at first glance. Great opportunities never have “great opportunity” in the subject line. Honing your gut instincts and acting upon conviction is a theme of every successful journey.
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
The easiest way to target a particular geographic area is simply to set up a Facebook ad as usual. When you’re setting up the audience and you get to the map, hit “Drop Pin” and place the indicator in the middle of your intended target area. Then, use the radius slider to modify the full range of land that your targeting will cover. You can adjust this from 1 mile to up to 50 miles.
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.
For example, say you run your own B2B marketing agency. If you’re advertising high-level digital marketing services, you want to make sure that the traffic you get from PPC campaigns only includes quality leads. Using negative keywords like “free” and “cheap” will help you avoid people who are not looking to pay for marketing services. If you only work with clients in the United States, you could also use location-based negative keywords. For example, to avoid keywords like “B2B marketing services in Russia” you could add “Russia” as a negative keyword.
Some publishers and networks have even developed performance-based marketing plans based on geo-targeted ads. Ads and marketing are only placed and paid for when there have been proven results to show that this venture is worth it. It has always been very effective to target a certain demographic based off of their age, gender, or career. This can be taken even further by taking a look at certain locations and what demographics reside there. Website data can be used to determine what geographic locations are most frequently perusing a site and that area can be targeted as well.
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.
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.
From my experience, you don’t need complex algorithms to save money with paid search. You don’t need a crazy PPC management tool to trim down costs for campaigns. You need only employ one of 3 core paid search strategies in order to succeed in your PPC campaigns: 1) Maximize your budget, 2) Improve Branding by showing up in a top position and 3) Maximize your profit potential.
Some websites regard visitors in different ways. For example, blogs are not as concerned with their visitor type, so long as they are drawing in visitors. In short, having an audience matters more than who makes up the audience. A business website, on the other hand, is looking for a certain type of traffic. This traffic should come from your target market. To make this happen, creating a keyword theme is necessary.
This emphasis on competition is related to the advent of game theory in the mid 20th century around the same time. The problem is that game theory is one mental model of many to help make decisions, not the only one (Ben Thompson from Stratechery has a good post on the Prisoner’s Dilemma that is a fundamental one). Even researchers are starting to point to the fact that there are no perfect solutions (such as a Nash equilibrium) to most situations.
It’s easy to get frustrated when stakeholders ask how to rank for a specific term, and solely focus on content to create, or on-page optimizations they can make. Why? Because we’ve known for a while that there are myriad factors that play into search engine rank. Depending on the competitive search landscape, there may not be any amount of “optimizing” that you can do in order to rank for a specific term.
Remember that martech landscape map with over 5,000 companies? Almost every product category is made up of over a dozen different players. You can’t reasonably expect to analyze all of them. You don’t need to either. An ideal competitor analysis includes three to five companies that represent the biggest threat to your business. (Go with five if you’re operating in a crowded market.)
If you don't know the difference between head terms and long-tail keywords, let me explain. Head terms are keywords phrases that are generally shorter and more generic -- they're typically just one to three words in length, depending on who you talk to. Long-tail keywords, on the other hand, are longer keyword phrases usually containing three or more words.
Successful online advertising requires ongoing work and optimisation to improve performance and results. Maximising output and reducing input is critical. You must clearly outline the business objectives, goals, and audiences for each campaign. This chapter outlines our PPC model which considers objectives, goals, audience, and targeting to ensure your PPC is based on a solid strategy with clear measures in place to analyse and improve as you go.
Conduct a business download meeting. I meet with key stakeholders to learn everything I can about the business and the industry they compete in. Is the business itself growing or struggling? What about the industry as a whole? I use this time to learn what has worked and not worked from a PPC perspective and to determine if PPC performance goals are realistic and achievable (or if they exist at all).
As the content manager, Annie manages a team of brand journalists and is the driving force behind the content strategy for companies in a wide range of industries, including healthcare, technology and professional services. Relying on interviewing skills she developed in her seven years as a journalist, she uncovers insights about what motivates buyers in these industries and uses that knowledge to shape client websites and editorial calendars.
And so on and so on. The point of this step isn't to come up with your final list of keyword phrases -- you just want to end up with a brain dump of phrases you think potential customers might use to search for content related to that particular topic bucket. We'll narrow the lists down later in the process so you don't have something too unwieldy.
A company’s slogan, tagline, mission statement and unique value proposition — all of these are important when determining how you stack up against your competitors. What is the company’s key positioning and how does it compare with other companies in this space? How do they describe themselves? This section is your opportunity to include what you feel is valuable descriptive information.
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.).
For example, within the HubSpot Blogging App, users will find as-you-type SEO suggestions. This helpful inclusion serves as a checklist for content creators of all skill levels. HubSpot customers also have access to the Page Performance App, Sources Report, and the Keyword App. The HubSpot Marketing Platform will provide you with the tools you need to research keywords, monitor their performance, track organic search growth, and diagnose pages that may not be fully optimized.