Your Competition To Leverage Your Digital Marketing
What is Competitive Analysis?
In order to become a leader and rank well for the most popular keywords and terms on the major search engines, it’s crucial to understand the digital marketing strategies of your competitors. The growth of your organization depends on how you market your business online, and whether or not you have the proper data and information to do so.
Successful competitor analysis will answer these questions:
Who are my top competitors?
What volume of business are they doing online?
What keywords and phrases are my competitors using?
Does their target audience vary from mine in any aspect? If so, how?
What do their content, calls-to-action, and on-site strategy look like?
Where are their inbound links coming from, and how can I find similar or better links?
What are the weaknesses of my competitors, and how can I exploit those?
Does my business possess any strengths that my competitors lack?
How do I leverage this information to create a solid and quantifiable plan?
Competitive analysis is one of the most important steps in marketing research. Having a solid grasp of what works for others and what doesn’t – as well as what they are and aren’t doing – can help your business rise up in the search engine results pages. This means more (and better) traffic, increased conversion rates, the ability to discover new opportunities, and the implementation of greater digital marketing strategies.
Competitive analysis uncovers key insights about your competition by:
Uncovering areas for improvement by evaluating your website
Determining your position and visibility in search engines and social media
Identifying digital assets, such as blogs, videos, white papers, etc.
Evaluating how you present your business, products, services, and value
Assessing customer satisfaction, including your online reputation
Pinpointing new digital advertising opportunities and platforms
A thorough competitor analysis will identify your strengths and weaknesses, expose critical errors and offer insight for best practices, and put you on the path to becoming a leader within your industry – whether that’s a very broad market or a specific niche. We also provide customized recommendations from our research which will help you improve your overall performance and promote more conversions.
Your digital presence matters more today than it ever has in the past. The days of having a website just to have it are done and over with, and the race to capture more customers is neck and neck. Regardless of what industry you’re in, you have to keep up with your competitors – at a very minimum – or you fail. To be successful, you’ll need to surpass your competition in the online realm so that you can acquire better placements, get more attention, and capture prospective customers and clients before someone else does. Being seen is crucial for any business, and knowing what to do once you’ve got someone’s attention can either make or break you.
Consider the following:
90% of shoppers haven’t made up their mind about a brand before starting their search.
This means that you if you’re the first to capture the attention of a potential buyer, you have an opportunity to convince them why your product or service is superior to others.
87% of shoppers begin product searches online. When searching for a specific product or service by keyword or term, the first results that a consumer sees are the first ones they’ll be looking at. If you’re not among the top results, your chances of a sale are slim-to-none.
67% of shoppers research products online before shopping for them offline. Even if you are a brick and mortar store, an effective and properly performing website can help you bring potential customers into your physical locations and boost sales.