When was the last time you got your website gauged for leads and ran a competitor analysis? The world of digital marketing is pushing boundaries ahead while widening the horizon of competition.
Are you in to confront it?
This never-ending battle to rank on the top of SERP is provoking marketers to come up with more advanced and reliable marketing techniques to outdo the competition. But the heightened competition is ready to beat the rest.
Analyzing strategies of your competitors and utilizing these stats to frame your strategies can strengthen your marketing spine. Here are some competitive analysis steps that can help you outperform your competitors and get more traffic and leads.
The term “competitive analyses” involves thorough research on competitor’s marketing strategies, sale campaigns, advertising campaigns, products etc. An in-depth study of all these things will give you an idea to curate your strategies and campaigns. Ready?
First thing first, prepare your business goals!!!
Before getting into competitive analysis, analyze your business goals like increasing leads, sales, brand visibility, conversion etc. Determining your goals would give them an edge. Now, check if your goals are relevant, specific, measurable, and can be achieved in the given time frame. Done?
Now establish your target audience. Having an idea of your target audience would help you prepare effective strategies. Take a look at your customer base in terms of age, gender, demography, occupation, and interests etc. to run similar marketing campaigns.
Know where you stand. Identifying your market position would help you figure out the competitors and your shortcoming for a quick fix. This will help you identify gaps in the market to get them filled for effective marketing.
You know it all, your ambiguities and possibilities. It’s time to frame strategies to get in the market using SEO, SMM, PPC, Email Marketing, Content Marketing, and Video marketing. Choose the one that can leverage maximum benefits.
Do a Thorough Competitive Analysis
Find your top competitors simply, search your business-related terms on search engine and jot down top 5 websites to analyze. For instance, you run a college and want to analyze your competitors for the keyword “best BCA College in Ghaziabad”. You will get multiple results, check what kind of results they are and how are they affecting your rank. Select your business-related terms and get it checked using free competitor analyses tools to get an idea.
Here, you will see that #3 is not a college and nor the #5. IPEM Ghaziabad, a well-known BCA college, is on #4. Analyze what’s helping them rank high to beat them.
- Know What They Actually Do
Determine their location, services, offers, their work ethics, and pricing. Compare all these aspects with that of yours. Create an in-depth profile of their work to understand them better.
- Determine Their Sales Tactics And Results
Collect their background information; what strategies and platforms do they use to market their products and services? It won’t be a piece of cake. Their rank in search engine results could be due to their content, updated Meta Tags, website speed, quality SEO or anything. Get the analyses done by a professional to avoid errors. Our team at Assert IT solutions is endowed with sufficient knowledge and resources to give you every minor detail about your competitor.
Once you get to know all about them, start structuring your strategies.
Brainstorm New Strategies
Search engine keeps rolling out new updates, follow them and abide by them. Craft effective business strategies and work on aspects missed by your competitors. Utilize marketing channels missed by them to increase your exposure. Run digital marketing campaigns for exponential business growth. Analyze their strengths, weaknesses, opportunities, and threats and use them in a positive way to yield positive results.
All this will surely take time, but keeping your success in mind, it’s worth it. Don’t miss your growth opportunities; let Assert IT Solutions conduct a competitive analysis to let you see unforeseen growth and leads. We are a team of 150+ marketing experts who can unleash best to give you edge over your competitors.