Do you feel like you’re up to speed when it comes to recognizing the importance of competitive intelligence? If you need a refresher, start with this post. Once you have the general overview from a business strategy perspective, make sure to jump over and learn how to evaluate your competitor’s print advertising here.
Now we’ll build on that knowledge as we guide you through the next level of competitive intelligence. It’s time to dive into what competitive analysis can do for you and your digital marketing.
Start with a competitive analysis of their website.
A company’s website is its digital hub of information, and as such, provides the perfect place to start learning about their digital marketing. First, evaluate the look and feel of the site. What voice are they using to convey their brand? Do they have custom content, such as blog posts, videos, images, or case studies? Any custom content can provide valuable insight into a broader marketing strategy. Take note of how they’re increasing their SEO value. What keywords are they using to be found by customers?
This information should provide you a clear idea of not only how they brand themselves, but also how they convey that brand to their potential customers.
Investigate your competitors email marketing.
Do they have a newsletter? Do they send out promotional emails? Consider signing up for their emails to evaluate their strategy and practices. Consider how consistently they send emails, as well as the quality and content. Email marketing can be a great way to gain loyal followers and increase sales, so a thorough understanding of what’s working (or not) for competitors can give you the upper hand.
Analyze your competition’s social media.
Which platforms do they use? How consistently do they use their profiles? What material or content do they share through social media? Finally, how many fans and followers do they have, and how do they interact with those fans?
Check out any and all social media profiles your competitors use, even if they utilize a network you aren’t familiar with, or don’t have time for. You can still gain valuable knowledge by investigating their use of that network, and might even find that it’s a good option for you.
Finally, take your competitive evaluation mobile.
An increasingly important part of digital marketing is mobile. How are businesses using mobile device features to their advantage? Do they have a responsive website? Do they use any apps to their advantage, or did they create an app for their customers? Finally, can you adapt their mobile strategies to your business and make them better?
Combine this insight with your competitive intelligence about print advertising, and you’ll have a full picture of competitors marketing strategy. Ask yourself: are their print and digital campaigns integrated? If so, do they present a unified brand message through all marketing mediums?
Now you have a thorough understanding of your competitors’ marketing strategies and tactics, which will help guide you in planning and executing your own campaigns for success over the competition.
How do you gain an upper hand on the competition?