Know Your Adversaries With
Digital Marketing Competitor Analysis
Most businesses don’t comply with marketing rule No. 1.
Know thy enemies.
At its core, competitor research is straightforward. Look at what your competitors are doing, identify what you are doing the same as them, and stop doing this.
Knowing your competition will make a huge difference and allow you to differentiate. Without standing out, a customer can only evaluate you through price; this is surely a race to the bottom where no one wins.
Common Responds To Competitor Analysis
"But we have no competitors"
If you don’t have adversaries, then a market for your product or service may not exist. Even if you have a brand new innovation, you still need more people to move from the old to your new way. Simply put - where else could your prospects spend their money to satisfy their needs (which your product or service solves)?
This is an interesting thought that will result in fewer new customers, decreasing conversion rates or existing customers leaving. Why wait for this to happen? By periodically benchmarking yourself and assessing what the experience is like for your customers, you can remain successful or improve.
When it comes to knowing your enemies - more is always better. We have some pretty cool artilleries to analyse all things online to establish where you sit - and develop a strategy to attract customers to achieve your objectives.
We live in a world where there is usually enough business to support you and your competitors, but you need the right prospects to be aware of you early in the buyer journey. That way, you can influence them and be the product or service of choice when they are considering a purchase.
If you have a reasonably new or very innovative offering or product, identifying a new category is a powerful strategy. You cannot be a category of one, as there must be other competitors with a similar offering. Category leaders absolutely dominate the market - which is what we want for you.
Our team can help you get there.
Let’s knock off your adversaries.
Talk to our assassins today.