This article is part of a series of twenty articles. Click to read: The Top 20 Web Marketing Concepts Your Next Website Design Company Should Know
Competitor research is an often overlooked key factor that helps to determine the outcome of an internet marketing campaign. Few web marketing companies and campaign strategists take enough care to do the best possible job analyzing the competition during this critical phase. So, why is it so important to know what your business rivals are doing? This article discusses some of the important points to consider concerning competitor research in SEO, SEM, and SMM campaigns.
Competitor research helps to achieve following goals:
Understand the Level of Competition
When launching a new business or attempting to take an existing business to the next level, it’s important to understand the online competition level of the industry as a whole. Some industries have very little competition on the internet and can be mastered with a small budget and little effort. Other industries have companies that spend millions of dollars on ad campaigns annually, and the investment required to compete is extensive. Knowing the current intensity level of your competition online will allow you to plan out what it will take from a time and budgetary standpoint to stay on top. This is an invaluable first step that can help determine what forms of online marketing you will engage in and where you should place your internet marketing budgets to achieve the highest return.
Understand the Market
Before launching a website, new product, or service, it is very important to understand your market. Here we explore competitor pricing, values, and offers. Proper market research can help determine your success in the beginning and is the best way to estimate profitability, capital requirement, and how to initiate marketing and promotional plans.
Understand Customer Needs
While conducting competitor research, you uncover valuable feedback left by competitors’ customers. You will also find comments left by general consumers on the message boards of industry associations and in social media outlets. All of this information is of great help in understanding the general needs of your potential customers, what concerns they have most often, and usually tends to satisfy them the most. You can use this data to structure your website and online marketing materials to appeal directly to the type of customer you’re looking for.
Decide Your Final List of SEO Keyword Phrases
During an SEO campaign, it is very important to find the most effective keywords or search phrases that people use to reach their destination (product or service provider’s website). If a search term is driving a lot of traffic to your prime competitor’s website, it can help you to compete for the same keywords and outrank your competitors in the search engines.
It is always advisable to find an internet marketing expert to help with competitor research as they have in-depth knowledge to guide you during your website and internet marketing launch. They can usually provide a detailed competitive analysis that includes competitor’s websites, social media channels, linked pages, industry affiliations, and everything else you need to know about them in order to start off an SEO, SEM, or SMM campaign in right direction. If you would like to track what activities your competitors are performing online to gain market share, contact seenBEST today. We can help you stand out from the competition and gain market share at the expense of your competition.
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Tags: competitor research, internet marketing, internet marketing campaign, keyword research, keyword selection, marketing and promotional plans, Online Marketing, online promotion, sem, seo, smm, smm campaigns, Social Media, Social media campaign, social media channels, Social Media Marketing, web marketing campaign