Is competitive analysis help your content to stand out?
Competitive analysis is a process in which the product or content is compared
with the content or product of the competitive/rival company. With the help of this analysis we can know the differences and the back draws in your content, and we can modify your content according to the present techniques and styles followed by the competitive companies of same product.
The style of logo which the other competitive company is following can be adopted to make your logo be attractive and be comprehensible by the target audience. Like the logo used by Coca Cola and Cola Next, they have a texture which relates one another. The steps which are useful in performing the competitive analysis are described below.
Identification of Rivals:
The major need for competitive analysis is to identify the rivals and the same products available in market with its price and specifications. For this purpose, an excel sheet is used to keep record of the data for analysis. You can collect this type of data by using Google to find the competitors in your location.
Content Strategy used by Rivals:
Now in marketing, there comes the content which can be images, videos, blogs, articles etc. For it you can use your competitor’s website to check the images or blogs used by your rival to get an idea about the content suitable for social media marketing.
Identification of SEO structure:
You also need to identify the SEO structure used by the rivals to make your content appear on top and publicly available. You can use keywords in your blog, images and even in the website’s URL.
Text Style & Fonts:
You can use the text style or fonts used by your rivals as you have the same target audience and you can build your content by having an idea from the rival’s websites to use for your content. Actually, you should not do that, but it can help you understand your competitor and the target audience as well.
There are a lot benefits of competitive analysis but there can also be some hazards, mainly the sense to copy content ideas. There are pages, posts, and videos that contain similar information, but your goal would always be to use your own ideas on it to make it uniquely yours. As you complete your competitor analysis, it’s useful to prepare a list of topics, themes, etc. on which your rival focuses. This can help you identify gaps in your own content collection, but its value is more than that. Instead, by identifying the topics and concepts covered by your rival, you can identify gaps in their strategy and set yourself up for growth and build out a unique strategy for your brand.
Social media Activity:
You should know the presence of your rival and their daily activity like doing posts and posting their product specs or information. Accordingly, you would have to appear on social media and interact with customers to provide a better experience working with you. It is a much important for a business to have a strong social media presence. Besides providing a great way for business to interact with their customers and prospects, social media is also an excellent platform for sharing content. According to their activity you should know the following info about your rival’s
social media activity:
How many followers they have?
Do they have amazing profiles?
Do they have profile photos or cover photos?
Do they post content?
How often do they post?
What kind of information they share?
No one can deny the fact that marketing can be extremely cut-throat and tricky, especially for small business. Holding your ground against the big players in the
corporate world with their huge market share and marketing budgets can be nerve-
wracking. This is why it is important for you to know exactly what your competitors are up to and plan your winning strategy accordingly. You never know, you may just be able to beat them at their own that way. This is where having a strong content marketing strategy comes into the picture.
Most of the content that your rivals publish is open to public reading. You can use this as
your advantage. Follow your competitors and monitor which content works with your products or services. Once you have this knowledge, you can control the earning for your business. By following their content marketing strategy, you can know more about the kind of content they choose to publish on their blog (or on other platforms), how their content fares on social media, whether or not their social media engagement growing, the keywords they use that bring them revenue, their strategy for pay-per-click advertising, and how their website and its links are performing and what type of hosting or domains they are using for their websites. If you don’t have a strong content marketing strategy in place already, don’t worry. Last year was great for content and upcoming year is touted to be even better.
Just like Facebook and LinkedIn, other social media have been witnessing the
publication of large quantities of free content on their platform. In keeping with
this emerging trend, the upcoming year is sure to allow for more content to be
posted and shared on other social media platforms as well.
Being original in your approach always pays off. This applies to research for
obtaining consumer insights in real time as well. The idea is to collect and present
fresh data to readers and followers and capture their interest and attention.
Computers and software are already beginning to write with the help of algorithms. You can see this happening during the preparation of basic weather reports. Such software can take bits of information from thousands of social media profiles and put them together to form engaging, well-timed online stories with offline user experiences.
Some of the Chief advantages of competitor’s analysis are following:
A better understanding of market
Better influence on target audience
Market potential forecasting
Tracking the change in economy
Track of new products in market
Price of products in market
Achieving a good no of audience