Imagine this. It’s a new year and you are a small business owner. You are committed to taking your business to the next level and trying new marketing tools to achieve your goals. However, you are unsure of how much you should be spending. Should you run the risk of spending too little, causing yourself to be overpowered by your competitors with larger marketing budgets? Or what about the risk of overspending and a possibility of losing your leads to those who are quicker than you? This is where competitor analysis comes to play.
There is no exact science to what your business should be spending on marketing/ advertising, but through a thorough competitor analysis, you’ll have a good starting point.
You may be wondering what exactly is a competitor analysis? In short, it is a report that is a compilation of what your competitors are doing online. Such research outlines their strengths and weaknesses, but most importantly, the opportunities and potential your business has to be successful in the digital realm.
If you’re still wondering whether your business needs to invest in a competitive analysis in 2019, here’s another good reason. Unless your competitors employ a dark web wizard who is able to hide all of their online actions (which I guarantee they do not), they are leaving a small digital footprint from which we are able to draw and interpret data from. We are also able to compile estimated search volume and bid prices for specific keywords on major search engines. Not to mention, generate an intelligent estimate as to what your competitors are spending on a monthly basis for certain keywords.
Are you wondering how this helps you?
Well, with this data we are able to guide your marketing investment decision based upon what available marketing dollars you have. More simply put, we consider your available budget and suggest the route that is most beneficial for your business. This saves your business from failures such as getting caught in the middle of an unwinnable pay-per-click war with a competitor with a substantially larger marketing budget than you.
Ready to invest in your future?
Famous WSI Results is proud to offer a competitor analysis from now until 1/31/18 at half the cost! For $495, we will put forth our proven and tested practices towards giving your business the competitive edge it needs to take the next step in 2019.
Today’s Digital Marketplace is a battlefield and your business competitors are the enemy. There are some real tangible rewards for winning the web war. A sound strategy and comprehensive competitive analysis can be a gold mine of developing effective ways to do battle with your competition.
It is Critical to regularly check and benchmark your rankings and those of your competitors. Surprisingly, very few businesses use this strategy before they invest their advertising dollars. A wise business marketing plan involves a strategic in-depth analysis, extensive preparation and well-thought-out marketing agenda that will lead to measurable web victories.
All businesses, large or small, compete every day for business opportunities and high qualified leads. Digital Marketing has revolutionized how companies create brand awareness, online reputation and customer engagement.
If you would like to make this the year you get ahead of your competition, do your homework. Do an in-depth competitor analysis in order to discover what strategies and tactics they are using and how they are working for them. By doing a little behind-the-scene search and discovery, you could find some valuable information that will help you achieve web domination.
Want to Find Out More? Fill Out the Form below and Download our ‘Competitor Analysis: Your Road Map to Winning the Web War’ Ebook.
Who doesn’t love a little friendly competition, right? It’s what our society thrives on and what Darwin designated as ‘The Survival of the Fittest’. The business world is full of saturated markets where competition is not only a way of life, it is imperative to a company’s survival.
One effective way for businesses to improve their products and services is to do a comparison of their competitors marketing strategy in order to gain some insight on what it can do to improve and create a clearer path to success.
If you’re looking to benefit from a comparison analysis of your industry, check out these 5 Steps you should take to make your company more competitive and better focused on success.
If you would like help with your Competitor Analysis, get in touch …
A competitor analysis is an in-depth review of a wide range of web data that reveals your competitors’ digital marketing strategies and tactics, enabling you to gain an advantage by learning from both their strengths and weaknesses.
Watch this video to discover the 5 key areas that an effective competitor analysis should include:
If you would like to find out more about how Famous WSI Results can help with any or all of your marketing strategies for 2016, get in touch.