Whatever industry you’re in, we all want to beat our competition! Nobody likes a rival and we all want the lion’s share of the industry’s custom. But what if we told you that you could beat the competition whilst also letting them do all of the hard work.
Rather than focusing all your energy on out-selling the competition, you can go a step further and use their insights, successes, and failures to inform your own campaigns.
Skeptical? Let us show you how it can be done!
Competitor Keyword Analysis
We all know that having an online presence is key in today’s digital-centric climate. And most companies with even a basic digital marketing strategy will already be using certain keywords to boost their Search Engine Rankings. But what many companies are still unaware of is that you can actually use your competitors’ keywords to boost your rankings too.
A competitor keyword analysis is basically using the keywords that your competitors use to gain an advantage. By researching, analyzing and understanding your competitors’ keywords, you can inform and adapt your own keyword strategies based on their successes and failures.
But you can also do much more than just that! By identifying your competitors’ keywords, you can leverage off their brand and reputation to boost your own profile. One way of doing this is by using your competitors’ brand names as your own keywords. So for example, if you are burger restaurant based in Westmead, you could use terms like Hungry Jacks Westmead or McDonalds Westmead to leverage off nearby competitors. That way, new potential customers may stumble across your restaurant and try your burgers instead of otherwise going to a huge burger chain.
Properly researched and executed, using competitor keywords can be a fantastic SEO strategy. But be careful and make sure you carefully consider your strategy before putting it to use. There are some of the tools like Pricing Intelligence where you can collect the price of the different product across any number of competitors.
Competitor Facebook Ad Auditing
Social media marketing is a huge part of marketing and advertising in today’s digital-centric world. And Facebook marketing can be particularly effective. Thanks to their sophisticated targeting capabilities, you can focus your budget and energy on reaching the audience most likely to become customers.
But Facebook advertising can also be used to research and stay ahead of the competition. Competitor Facebook Ad Auditing allows you to just that by getting information about the marketing campaigns they run on the social media platform. Not only does this let you see what your competitors are doing, but it can also help you understand how their customers (and your potential future customers) are responding to it. And once you know this, you can amend your marketing strategies accordingly.
There are many different tools available on the market to help you analyze your competitors’ social media campaigns. And whilst many of these cost money, there are also some free options available if you want to dip your toe in the water before investing in it fully.
Facebook’s “Info and Ads” tool is an in-built tool made by Facebook. It can be accessed on any business page and from there you can see all the active ads any page is running. This doesn’t just apply to Facebook, it also includes campaigns on Instagram, Messenger and Audience Network.
This free tool is fantastic for giving you an overview of your competitors’ current adverts as well as the people they are targeting. For better results however and a deeper analysis of their performance, you may want to consider paying for tools like AdSwiper.
Artificial Intelligence enables us to gather and process enormous amounts of data that can help us improve our operations and boost profits. But how can you use AI to elevate off your competitors’ pricing choices?
AI-based pricing helps you gather information from a countless competitor and consumer sources. It allows you to out-price your competitors in real-time but can also help identify when customers are willing to pay more for certain products. From customer loyalty cards to their responsiveness to competitors’ deals and special offers, AI-based pricing can help you stay competitive in your industry whilst still turning a good profit.
Keeping an eye on your competitors is a no-brainer in business. But the thing that separates the good businesses from the extremely successful ones is the ability to use competitor insight to get ahead of the field. By tracking their keywords, social media marketing, and pricing, you can use their research, insights, successes, and failures against them and elevate yourself in the process!
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