As marketers, we must be aware of our competitors in order to anticipate and win at all times. By researching your competition, you may improve both your product and your marketing.
Look at your rivals’ advertising or search terms that they use, help us to target not only our new customers but also theirs! You have more options than you realise with numerous online tools available at your service. The paid version of many of these tools offer accuracy and strategy planning that helps us take the next few actions required. You’ll know which channels to target and what approach will set you apart once you’ve examined how your competitors market to their clients.
1. What are you looking for?: Figure out your priority from the competitors in your industry. How active are your rivals? Who are their partners? Who are their target audience? How tough is the competition for the audience? Can you tell any regional or seasonal trends in the field? This might take a while, but will make you a seasoned marketer at the end of the day.
2. Use SEO to analyse: Your competitors could be everywhere, even on the third page of Google results, yet your competitors could be good teachers in a few aspects. They may be good at something that our business is lacking in. So thoroughly study their strengths and weaknesses to know about the scope and field for our growth and the techniques that we have to adapt to.
3. Scan the competition for all types of content: Learn more about your target audience and develop content that outperforms the competition. There is no need to copy or plagiarise any if their content as we will have the unique content that is not in the internet, yet what your audience is looking for!Studying the content with patience is all that matters as it gives us a new perspective into the matter and let’s us create novel content.
4. Make profiles to reveal competitor strategies: Of course, this may not be a very novel method. However, defining and revealing your unique value proposition gets your competitive path clear! Why, if you have an edge over your competitors, a few may even try to copy or recreate your innovative details their own way!
Though product or service quality is what runs the business, the quality of your competitive approach also plays an important role in determining your reputation among your competitors and among the combined audience. These customers are actually easier to please, only if you know what they want from your competitors and you! Customer satisfaction is the ultimate goal of any business and marketers play a major role in bringing in more customers and a positive reputation to flourish better.
