There are many ways to help and improve your digital marketing performance. Most people consider search engine marketing, content marketing, social media and even improvements to their website. However, there is one thing that many people often don’t think to consider but can really help in your marketing efforts. How do you stack up against your competition?
Knowing what your competitors are doing and how well they are doing them can give you valuable insights as to the direction you may want to take, or improvements you could make to gain a competitive advantage.
Here are 5 areas you should focus on to gaining a competitive advantage.
1. Search Engine Visibility
Do some searching. Who are your online competitors? Sometimes the results can be surprising. Look at who has good visibility across the search engines. Consider who also has visibility on third party websites as well as their own.
2. Top Performing Adwords in Google
Look to see which competitors are showing up at the top of the Google Ads lists. These Ads are paid for, so your competitors are probably paying for the associated keywords because they know they are getting a reasonable return on their investment
Once you have identified the keywords your competitors are ranking for that are relevant, both paid for and organic, you can use those words to help you with your own strategy. Draw up a list of the words that you need to target more effectively, and also the ones where you are performing better. Use this data to guide your efforts and remember, the ones where you are performing better will still need work to maintain their positions and mustn’t be forgotten.
Now it’s time to dig a little deeper. You know your keywords and now you need a good content strategy to optimise them. Look at what content is out there and where it is. Look at the structure and the images. Knowing what’s out there, how it’s being received and where it is will help you structure your own content creation plans.
5. Social Media
Find out where your competitors are most active. If you have a similar audience then it will show you not only where your audience is active, but also the type of content that is already popular. You can see what’s being commented on, shared and liked.
Working through these steps will provide you with the information you need to take steps to gain a competitive advantage. Use it to improve on what your competitors are doing, or to spot and fill those gaps that your competitors are leaving.
A word of caution though, don’t get so wrapped up in monitoring your competitors that you forget to monitor your own performance. Make sure you keep an eye on what performs well and what doesn’t, making changes where necessary to make sure you continue to improve.