Competitor analysis could make a huge difference on how your company operates. Learning a thing or two about your competition is a good thing especially if you are formulating a digital marketing strategy. You’ll learn more about things that work and things that don’t work. Studying their internet marketing strategy will give you the chance to see opportunities that otherwise, your company wouldn’t know existed. There are times when you can even copy some of these strategies in order to get to your niche. Now, here are some effective competitor analysis strategies that you could implement.
Follow your competitors’ social media account
What is the best strategy that you could use in order to study your competitor’s social media marketing strategies? First thing that you need to do is to check their social media accounts. Start following them regardless if it is on Twitter, Facebook or even Instagram.
From here, you could weed out things that could be applied on your company. For instance, how many times do they post on the platforms? What are the things that they post? Do they follow the 80/20 rule wherein they post 80% non-promotional, 20% promotional posts?
You can even test their responsiveness. Try to leave a comment or perhaps, try to send an inquiry to test how they’ll react.
Know the link-building strategy
Though backlinks are no longer that important in today’s main SEO strategies, it still remains as a great way to boost a site’s ranking. Where does the site get its juice from? Do they perform guest blogging with some other blogs? Or perhaps, they are still submitting the url of their site to some directory out there? In order to find out you could always use tools including Open Site Explorer and Majestic.
What is their approach in content marketing?
Content is king in today’s World Wide Web. Apart from the posts in Facebook and social media, it is also imperative that the company engages in a content marketing campaign in order to help drive links, gain traffic and more importantly convert traffic into customers.
Try to see what your competition offers the market. Do they produce guide books? Or maybe, they are producing some infograph that could be shared across social media platforms and even blogs.
Subscribe to their email list
Email marketing plays an important role in branding and following up with your consumers. If you want to know more about the email marketing strategy of your competition, try to subscribe to their list. Try to evaluate things sent by the competition. Does it end up in spam folder? Also, take the opportunity to analyze the techniques that they use in order to catch the attention of their subscribers.
Who works for them?
Lastly, since authorship is becoming an important part of internet marketing, take the time to take a look at the background of their writers. Who are they hiring? Do they have specialties of some kind? Do they have someone who is an expert in a specific field who could produce content?
Finding the right strategy online may be the best thing you’ll ever do. If you failed to check what the competition is doing, you may lose a lot of opportunities. With these tips on how to study your competition, you’ll maximize a lot of things in your niche.