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Marketing Competitor Analysis

Competitor analysis is an essential activity for businesses. To keep up the standards of their marketing activities, businesses would do well to monitor what others are doing, especially those operating in the same industry. In this blog article, we shall be discussing some competitor analysis tips aimed at revealing insights about marketing trends within specific industries.

Keywords and search rankings

Having experience within a specific industry, business leaders can understand what potential search terms may be used by prospects seeking their services. Testing out these different keywords and seeing which companies rank amongst the first will provide indications in relation to both their pay-per-click (PPC) and search engine optimisation (SEO) strategies. This activity can provide insights to hone existing digital and content marketing strategies.

Social media

The activity of competitors can be analysed by following their social media channels. This would be quite straightforward as content on social media is made publicly available. Businesses can also make use of social media listening software to keep themselves abreast of the latest developments in relation to their competitors. The number of followers and most importantly engagement on social media content can provide valuable guidance regarding the reach and brand awareness of competitors.

Website traffic

Getting a solid understanding of your competitors’ digital footprint means comprehending the traffic volumes that their websites attract. The more traffic a website gets, the better the chances of featuring more prominently on search rankings.  Software such as Alexa enables businesses to understand how effective competitor websites are through the number of visitors, the average time spent and bounce rate. Apart from understanding the volumes that competitor websites are getting, such software enables one to comprehend the quality of the traffic. Such analysis enables businesses to understand the competitor landscape and fine tune strategies if they are trailing.

Backlinks and referrals

SEO software enables one to review the number of backlinks and referrals linking to competitor websites. The more backlinks directing to a website the better for popularity and authority purposes. It is important to keep in mind that the websites that are linking to a platform should be of a certain authority and repute. If businesses find that they are trailing in this respect, they can explore the option of guest posts on other websites, so that they may spearhead backlinks. 

Email marketing

Email marketing mailshots still remain amongst the most effective promotional strategies. In this respect, competitors can also be monitored. This can be done quite easily, simply by signing up for their newsletters. Businesses would then understand the type of content that their competitors distribute which may include newsletters, promotions and offers. They would also get design and content ideas from these mailshots.

Events

It is quite important to keep tabs on the events being organised by competitors. For certain businesses, events provide invaluable networking opportunities to develop new working relationships. Events being planned and organised can be monitored through a company’s social media channels. Such events can include conferences and webinars just to name a few.

Employer branding

In the midst of the struggles to find adequate resources, more companies are investing in their employer branding efforts. Monitoring social media content will allow businesses to understand what competitors are doing to retain employees and recruit new members of staff. This would reveal other insights such as the workplace atmosphere and the type of culture sustained within the different organisations.

Competitor campaigns

Analysing the campaigns of competitors will allow one to understand where they are investing their money. Knowing which channels are most effective to reach the intended target audience can yield better customer acquisition results. Analysis of marketing campaigns will shed light on the messaging being communicated, visuals, effective platforms and keywords amongst others.

Analysing the marketing strategies of competitors is an extensive, yet essential exercise. To learn more about collecting such insights, send us an email on [email protected]

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