Marketers have a good understanding of what is going on in their business and marketing team. With so much control – from advertising to blogging and positioning – sometimes marketers don’t have a complete understanding of what’s going on outside the four walls of their business.
However, it is essential to be aware of external factors; its impact may be more important than determining internal success. Gaining a complete understanding of your competitive landscape and market environment will help you use the information collected to advance your strategy in all areas of marketing.
Let’s take a look at some examples of how you can use that intelligence to win and win the competition.
How to fill the gaps in content marketing
Monitoring your competitors’ content marketing can help you in your content marketing strategy.
See the channels and topics your marketing depends on to analyze your competitors’ content strategy. Ask yourself the following three questions about each of your competitors:
- What media do they use to publish the content?
- What kind of media do they publish? (Articles? Slide Share Offers? Infographics?)
- What topics do they cover?
In addition to the creative side of a competitor’s content marketing, you also need to consider the technical aspects of your strategy: how to structure and optimize your content for search engines. Especially if you have a competitor with a marketing team or a larger budget, you can look at the strategies they implement to learn best practices and get inspiration for tests that you can try yourself.
Competitive information about your competitors’ content marketing allows you to…
- Create content that stands out from the rest of the market
- Find out which content topics, formats, and channels are most popular
- Leverage your competitors’ knowledge of technical optimization
How to position your product in a unique way
It can be difficult to position your company or product if you are in a market with similar solutions or common values. For example, if your solution is “easy to use”, but your competitors say it is their solution, how can you prove that your claim is more valid?
The key to obtaining a unique position is to understand the messages of your competitors and the real and promoted benefits of your solutions. Find the answers to these questions:
- How do our competitors position their companies and products? How does this position change over time?
- What is unique about our messages and solutions?
- What are the real strengths and weaknesses of each participant’s solution, as revealed by their customers?
To gain a complete understanding of competing products, you need to analyze what and how they communicate the solution details on their website and in the help documentation. Also read what customers say about review sites and support topics, both valuable sources of internal information about a company’s strengths and weaknesses.
Competitive information about your competitors’ products and positioning allows you to…
- Create unique messages that you consider the best solution
- Educate internal teams about competitors’ strengths, weaknesses, and strategies
- Get more competitive deals, consistently positioning yourself as the best solution
How to generate more leads in a competitive market
Each company, including its competitors, competes for the attention of its public. To create great lead generation campaigns, you need to understand your competitors’ marketing efforts.
Answer these questions:
- What are the main channels and promotions that our competitors use to generate leads?
- What tests and changes are they doing and what can we learn from their optimization efforts?
- What promotions will offer something better or more exclusive in the market?
When analyzing competing leagues, review the topics and types of promotions and look for common themes. Do you have a similar offer? Promote your alternatives to try to suppress it.