Do you know what your competitors are doing?
If not, it’s time to find out. Competitor research is one of the most powerful ways for businesses to gain insight into their competition and improve their own marketing strategy.
Learning more about your competitors will provide a better understanding of who you’re up against in the market and allow you to make strategic adjustments accordingly.
Here are some tips on how to conduct competitor research:
Research Their Content
Have you ever been on a blog and wondered where the author got all of their inspiration?
By doing competitor research, you can determine what content they’re producing and how it’s resonating with their readers. Take a look at some of your competitors’ most popular posts to see what topics are trending, as well as any common themes or patterns in their content.
You can also view real-time search analytics for keywords related to your target market to see what type of content is being sought out. This is an excellent way to find new topics that might not have previously been considered through traditional brainstorming methods.
Analyze Their Blogging Frequency
How often do your competitors publish content?
By analyzing their blog posting frequency, you can learn how far in advance they plan out their content. If it appears that they’re publishing on a fairly regular basis (every couple of days or so), consider adding a few times per week to your schedule.
On the other hand, if they’re only producing updates once every couple of months, consider bumping up your own publication dates.
In addition to blogging frequency, look at what type of content is produced for clues as to the best times and topics for your audience.
For instance, are most posts being created during morning hours when everyone’s getting ready for work? Consider adjusting your blogging schedule accordingly.
SEO Competitor Research: Know Where They Get Their Traffic From
What’s your competitor doing to drive traffic to their website?
By looking at which social media sites and channels they’re using, you can determine what networks appeal most to their audience.
If you haven’t already integrated social media into your marketing strategy, consider testing these platforms for yourself. Use the results of observation analysis (such as the number of followers or likes) as an indicator for how well each channel is performing.
Sign Up for Their Newsletters & Emails
Are your competitors offering valuable insights and tips via email or newsletter that customers would be interested in reading?
By signing up for newsletters and emails from your competitors, you’ll have an opportunity to discover any upcoming promotions or limited-time offers that people may be interested in.
In addition, you’ll get a look at any giveaways or contests that are currently being offered. This will help ensure that your customers have no reason to go with another business aside from yours.
Follow Them on Social Media
Are you following your competitors on social media?
By keeping up with them on social media sites like Facebook, Twitter, and Instagram, you can connect with their audience and learn more about what they’re doing to market themselves effectively online.
Be sure to keep an eye out for information regarding upcoming products or events that people might respond well to. Social media is a great way to connect with customers and build trust.
Look at Their Website Design/Layout
Are your competitors using an online marketing company that specializes in website design?
Following the example of what works for them can provide you with some insight into how your own site could be optimized for conversions. Check out their homepage, landing pages, email opt-in forms, etc. You’ll see if any changes could improve your site’s look, feel, and functionality.
If a few of the most popular companies in your industry all use certain elements on their sites (such as blog posts or calls-to-action), consider trying these things out yourself. You may be one step ahead of everyone else.
Look at Their Emails and Landing Pages
Do your competitors have an email capture form on their website?
If so, take a look and see what’s working well for them to get you to opt-in. What language are they using?
Is the main focus of the page placed on a specific image or call-to-action button? Are there any other elements that you feel would improve your own conversion rates if you added them to yours?
Also, check out how their sales pages are set up by looking over some emails and landing pages. Check out their content structure and wording to gather ideas for your own next marketing campaign.
Choose which parts work best for your audience (and test these features) and improve upon the parts that appear to be underperforming.
Take a Look at Their Services and Product Line
Are your competitors offering products or services you don’t have available?
Offering more product variety could make you an appealing business compared to others who only sell one type of thing.
Plus, customers will often feel better about supporting a company that offers more than just one type of value. It shows that you’re not all about making money from them. Instead, you’re concerned with meeting their needs in addition to providing high-quality products and/or services.
Find Out Your Competitors’ Demographics and Statistics
Find out how old your competitors’ customers are and how much money they make per year. Also, check how far away from their location people are when they purchase products or services.
By knowing this information about your target audience and how they differ from the competition’s, you’ll be able to better tailor your marketing campaign for its greatest impact.
Top Competitor Research Methods
There are a lot of ways to conduct competitor research.
To be successful, how you gather information and use it should be tailored to your audience’s needs and wants. By following these strategies and tips for conducting competitor research, you’ll have a much easier time learning how to do market research on competitors. You’ll then come up with a more effective business plan for your organization.
We hope you enjoyed this guide and it has helped you understand the advantages of competitor research. Don’t forget to share it with your friends. Also, check out more internet and tech related articles on this blog.