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.).
A competitive analysis won’t help you with pressing business decisions, such as what product feature to build next. (Never copy your competitors for the sake of it; they could be 100% winging it!) Moreover, if you’re the industry leader, the value of analyzing competitors is limited because you’re the one leading the pack through uncharted territory.
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.
It would be unreasonable to run a full technical audit of each competitor, but take into account your own site’s technical SEO performance if you know there are outstanding technical issues to be addressed. In addition to the previous checklist items, I also like to use these Chrome extensions from Ayima: Page Insights and Redirect Path. These can provide quick checks for common technical SEO errors.
The best way to see what geotargeting can do for your company is to undertake a test campaign on a site like Facebook employing the parameters that would best access your target audience in various parts of the country. Include the specified area(s) within the ad’s content and launch it to see how it impacts results at your various locations and your online business. From there, you can further expand on what the technique can do, even using it as a recruitment tool to locate new marketing talent to run your next geotargeting campaign.
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.
WHAT TO EXPECTAn in-depth investigation and analysis of your competition is one of the most important components of a comprehensive market analysis. A competitive analysis allows you to assess your competitor's strengths and weaknesses in your marketplace and implement effective strategies to improve your competitive advantage. This Business Builder will take you through a step-by-step process of competitive analysis, helping you to identify your competition, determine and weigh their attributes, assess their strengths and weaknesses, and uncover their objectives and strategies in your market segment. WHAT YOU SHOULD KNOW BEFORE GETTING STARTED [top] What Types of Organizations Should I Consider as Competitors? Any business marketing a product similar to, or as a substitute for, your own product in the same geographic area is a direct competitor. Firms offering dissimilar or substitute products in relation to your product or service are considered indirect competitors. Indirect competition would exist between the manufacturer of butter and a manufacturer of margarine selling to the same customers. Another example is the manufacturer of eyeglasses who competes indirectly with contact lens manufacturers. Stated in other terms, indirect competition will satisfy the customer's need with a particular product or service, although the product or service used may be different from yours. If a firm has similar products and distribution channels, but has chosen to operate in different market segments, they are not at this time your direct competitor. However, it's important to monitor the marketing activities of such firms because they may decide to move into your market segment, just as you may decide to move into theirs. Take a moment and identify your direct and indirect competitors: Why is a Comprehensive Competitive Analysis an Important Part of a Marketing Plan? To achieve and maintain a competitive advantage in reaching and selling to your target market, you must possess a thorough knowledge of your competition. An in-depth competitive analysis will provide you with the following:
The distinctions here can become quite urgent depending on the kind of product you’re selling or the kind of customer you’re looking to find. If you’re trying to find people who are interested in selling their homes in the East Village, then you don’t want to target people who are just in the East Village on their spring break or while visiting family. If you’re trying to target high net worth individuals on vacation in Montauk, New York because you believe they’re ripe targets for ads about buying beachfront houses in Montauk, then you don’t want to waste your ad spend showing ads to locals.
Competitive analysis can help frame your own product context, discover other problems your customers have, and even bond the team together against a common foe. For all of these reasons and more you shouldn’t ignore your competition. However, if you don’t properly understand how they impact your organization’s strategy, competitive analysis is simply a waste of time.
If your competitors are using a social network that you may not be on, it's worth learning more about how that platform may be able to help your business, too. To determine if a new social media platform is worth your time, check your competitor's engagement rates on those sites. First, visit the following sites to see if your competition has an account on these platforms:
Steve Webb is an SEO audit specialist at Web Gnomes. He received his Ph.D. from Georgia Tech, where he published dozens of articles on Internet-related topics. Professionally, Steve has worked for Google and various other Internet startups, and he's passionate about sharing his knowledge and experiences with others. You can find him on Twitter, Google+, and LinkedIn.
For example, assume your search ad generated 5,000 impressions in one day, of which 100 visitors have come to your site, and three have converted for a total profit (not revenue!) of $300. In this case, a single visitor for that keyword is worth $3 to your business. Those 5,000 impressions in 24 hours could generate a click-through rate of between 18-36% with a #1 ranking (see the Slingshot SEO study for more on potential click-through rates), which would mean 900-1800 visits per day, at $3 each, or between 1 and 2 million dollars per year. No wonder businesses love search marketing!
Information from an analysis of the competitor's objectives, assumptions, strategy, and capabilities can be compiled into a response profile of possible moves that might be made by the competitor. This profile includes both potential offensive and defensive moves. The specific moves and their expected strength can be estimated using information gleaned from the analysis.
The secondary and tertiary groups are both your indirect competition.Their products may not be the same as yours, but could satisfy the same need or solve the same problem. You should primarily focus on your direct competitors, but you should watch your indirect competitors. These businesses may move into another group as your business, or theirs, grows and expand product offerings.
If you're struggling to think of more keywords people might be searching about a specific topic, go to Google.com and take a look at the related search terms that appear when you plug in a keyword. When you type in your phrase and scroll to the bottom of Google's results, you'll notice some suggestions for searches related to your original input. These keywords can spark ideas for other keywords you may want to take into consideration.
So how is geo-targeting different? Geo-targeting refers to delivering ads to people meeting a specific targeting criteria and who enter inside of a defined radius using the same geo-fencing location technology. The key difference is geo-targeting hones in on specific consumer targeting criteria like demographics, behaviors, interests, as well as where the person is located. You often need bigger geos to do this since you are not showing the ads to EVERYONE inside the geo-fence, they must also meet the targeting criteria.
When setting up conversion experiments that test different page elements, it may be valuable to make a prior segmentation that is location-based. Testing different ideas and approaches when location is taken into account, usually creates very interesting insights. What will work better for your funnel – showing your traffic from Spain pages in Spanish or English? Will you quote Euro or Dollar?
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.