The Marketing Benefits of Competitor Analysis

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As a local business, keeping an eye out for how the competition around you is presenting itself to the public is important. It helps you keep your representation in check. You can gain valuable insight into how other businesses conduct themselves.

It can then be put into practice, whether you adopt some of their methods of success, or put a halt to some of yours that could be damaging to your image. A well-to-do local business in Columbia, TN recently contacted our team of professionals to ask about receiving the benefits of competitor analysis. They understood that looking at other businesses in their area helped them put some perspective on their productivity.

The first area of analysis that is typically done is an assessment of your competitors’ digital marketing outcomes. This includes variables like website traffic, for example. Some information that we gather from your competitor performances are as follows:

  • If the lead competitive company has changed recently.
  • What changes affected your competitors in recent months.
  • Which digital channels yielded the best performance

A next and crucial step in the analysis process is to discover what SEO strategies your competitors are implementing for success. Our agency utilizes industry-proven programs to get a look into these strategies and provide you with a bird’s eye view of the performance.

Some pieces of information could be successful keywords, consumer behavior metrics, popular pages of their website, estimated cost of ad keywords, and more. Finding out what works for them will help our progress going forward to can help enhance your own marketing strategies.

The same holds true for yet another approach of analyzing local competitors. That is to assess the performance of any online advertisements they have created and recently run. Specific keywords and a plethora of other information can be collected about what is working for the particular company.

Other patterns that can be discovered are from more historical data, such as seasonal adaptations they might make of “on and off” times. Sometimes, adjustments like these can make for greater success with running certain campaigns.
Lastly, the type of content that their strategies provide their consumers can offer up plenty of information for a profitable competitive analysis.

Some questions that our team poses about your competition to uncover these variables sound like the following:

  • What platforms are they publishing on that are working best for them?
  • Who else is associating themselves with their company and promoting exposure?

We help you get the benefits of competitor analysis by gathering this lucrative information about the competitors in your area. Our team of marketing professionals can help your business rise up in the ranks. It’s not impossible to achieve these top ranks you might have marveled over for years, you just have to make that call. Give OCGnow a call today at (904) 600-3600 to schedule a FREE evaluation of your business today.

This post was originally published on 5/9/2020 and updated on 9/28/2021 for accuracy and a larger scope of information.

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