Digital Marketing has revolutionized how businesses can increase sales and nurture long term relationship with their audience.
You can accelerate this road by conducting a competitor analysis.
A competitor analysis is a detailed review of a wide range of web data that discloses your competitors’ digital marketing strategies and tactics allowing you to gain advantage by learning from your strengths and weaknesses.
Here are 5 key areas that an effective competitor analysis should include:
- Website Content Benchmarks
A closer inspection of competitive website can help you gain advantage in your marketplace by identifying factors such as:
- Mobile ready content
- Frequency of new content
- Level of social media engagement
By using online search tools, you can:
- Identify key phrases your competitors are targeting
- Pinpoint how to formulate your website content and
- Link building strategy to gain maximum search exposure
- Pay-Per-Click and Remarketing (PPC)
Spending money on paid search without appropriate search data can lead to overspending. A professional competitor analysis will help your campaign, including calculating costs of customer acquisition.
- Social Media Engagement
Monitoring your competitor historical social media engagement can be very informative. It indicates:
- Which social media platforms attract your target audience
- Which content formats drive the most engagement.
- Lead Nurturing Calls to Action (CTA)
Examining the arqui-texture and style of competitive calls to action can give you a head start in better understanding and then leading new customers through their bind cycle.
In conclusion, effective marketing is all about ongoing texting which can be accelerated through smart research like a competitor analysis.
If you would like to conduct a professional competitor analysis for your business get in touch with your Digital Marketing Consultant.
WSI was founded in 1995 and is an innovative digital marketing agency with offices in over 80 countries. We’ve spent over 20 years helping more than 100,000 companies and large global brands unlock the full potential of their business by leveraging the Internet and its many unrecognized opportunities. We’d be happy to help do the same for you and consult on your digital marketing strategy. Simply give us a call or get in touch with us at email@example.com to learn more.
About the Author
Rick spent 20 years in the insurance industry in finance, primarily developing reporting platforms for B & C stakeholders. His ability to speak to consumers of data (managers and analysts) and translate their needs to programmers led him to start his own digital marketing agency in 2004 to develop data driven solutions for business owners.
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