Marketing departments have to keep up with a lot of analytical information about customers and products. Nowadays, advertising through social media like Facebook entails keeping up with the customer’s shopping habits, preferences, types of devices, and other factors that go into planning a successful marketing campaign.
Another important and complex informational source is a report on your competition. Marketing Land put the process of developing one of these into a few essential steps.
First, analyze the content found on their website, paying attention to – well, everything – especially the specific products or services they offer and how they present them to their viewers. Do they prefer the carousel ad or videos?
The next thing to look at would be there blogs. Again, take copious notes because every scrap of information will help you decide your next marketing strategy.
Looking at your competition’s back-links adds to the bigger picture and can create new entries on your list of people to contact.
Social media is a very important part of competitive online marketing. Perusing the ads, tweets, messages, and whatever else they pass through these platforms can help you determine what is working well for them, how large a fan-base their brand has and other important information to help your people plan a counter-move.
Collecting all of this information allows you to see where your competition is doing well and where they need improvement. Also, this may inspire new marketing ideas for your brand.
Marketing is like a chess game. Watching your opponent’s moves helps determine not only a counter-move but allows you to analyze their strategy and plan your own campaigns accordingly.