Competitive analysis is a method of strategic research focusing on collecting information about all the rival companies to check traffic to any website. Likewise, it helps you know the tactics of the rival companies and the threats they are presenting to the companies. Competitive research turns out to be legal practice involving the gathering of information accessible to the public. Make use of local sources like newspapers, databases to collect the required information.
Ways of Performing Competitive Analysis to Boost Marketing Strategy
Finding out the real competitors
For designing a content marketing strategy, first, you have to identify both direct and indirect competitors in the markets. Besides, try to grab the audience’s attention by outranking others and standing out from the crowd. Doing an SEO competitive analysis is a great way to check what the competitors are trying to do. With the information, you get, increase the traffic to your website and improve sales.
Try to make the business stand out
With so many similar businesses in the market, competitive analysis helps to stand out from the rest and check traffic to any website. The Internet has made it possible to reach out to large audiences making it easy to capture people. Adding local tags to the keywords is an excellent way of appealing to the audience. Further, check out what the competitors are trying to do to know your next move for impressing the audience. Competition is fierce online, and you have to do a competitive analysis to make yourself recognizable in the crowd.
Following all the current trends
All the businesses follow specific trends based on the preferences and needs of the customers. Secondly, keep track of all the things your competitors are doing to identify the trends and changes quickly. Implement all the latest trends into the business models you are preparing. It helps you to stay in the competition and active in attracting the target audience.
What to Look for in Content Marketing Strategy?
Most businesses do a competitive analysis to check traffic to any website before their content marketing. They prepare a set of questions for the competitors they have to answer.
How often is it required to blog?
The first question will be about the blog strategy they follow. Further, it depends on the size of the business and its nature. As per the analysis, blogging at least once a week is an excellent way to start. Blogging becomes a promotion to let your customers know about your products. After establishing the audience, you can increase the frequency of blogging. You can increase the number of blogs to 3 every week if you think it is necessary.
What should be the topics?
Competitive analysis helps to cover all the topics as per the specific customer base. Likewise, look up to what the competitors are posting. Competitors will blog about their products to improve their sales. Choose the topics wisely, and you will get ahead in the race of competition.
What should be the length of the post?
If the business targets only the CEOs, short posts turn out to be the best. Besides, if the competitors are developers, they will enjoy longer posts. Look at the competitors to know the length of the blog posts you will be preparing—experiment whether long or short posts will be suitable for your business.
Who should you blog for?
Business blogs are authorized to several people of the world as well as internal and external contributors. Moreover, the author’s approach will be to generate valuable content to generate the leads. Blogs authorized within the company are to build authority within the company. But blogs focused on external contributors try to attract a new audience and potential customers.
Conclusion
After analyzing the competitor’s strategy, you will understand how good your company’s content should be. The only thing to remember is that you are not the competitor. Further, don’t replicate precisely what your competitors are trying to do. Competitive analysis is to know the prospects of the competitors and not to copy them. Competitive research lays the foundation from where you will be able to build a strong content marketing strategy. You can hope the best for your business to attract more sales.
