Competitors Analysis is one of the most underrated yet highly significant digital marketing strategies. It helps a business understand and analyze the marketing strategies of its competitors to overtake or beat them in the market. A successful execution of this strategy requires exceptional skills, a qualified team, a calculative and analytical approach, and the ability for detailed speculation of data. Interestingly, despite being a crucial part of a successful and strategic digital marketing campaign, not every digital marketing team or company possesses the skills, ability, and competence for the fine art of Competitors Analysis.
However, it is not the case with SEO Discovery, which is rightfully the best competitor analysis and digital marketing agency in the country and abroad. Recently, SEO Discovery has been honored with a Certificate of Achievement for its unmatched excellence in the field of competitor analysis by Semrush, one of the most reputed digital marketing education & certification agencies. This valuable gesture has established SEO Discovery as the leading digital marketing expert on a global level.
However, let us look deeper into it and understand how we help our clients and partners with our superior skills that have earned us this prestigious honor.
What do you mean by competitor analysis in the field of digital marketing?
Competitor analysis means not only the analysis of the marketing strategies of the competitors but also keeping an eye on their strengths and weaknesses. It also includes the analysis and examination of things like pricing, products, distribution, data, and algorithms. It is not a one-time activity but a continuous and gradual process that needs to be carried out by experts having undivided attention to each and every detail. Sticking to the core principle and essence of competitor analysis has helped SEO Discovery become an expert in this field.
How SEO Discovery helps its clients by doing competitor analysis?
SEO Discovery helps its clients in reaping the enormous benefits of competitor analysis, such as:
- Acknowledging and identifying the opportunities and obstructions in the market and moving ahead accordingly.
- Understanding the pricing strategy of the competitors and comparing it against their own.
- Identifying the weaknesses of the competitors and turning them into an opportunity for themselves.
- Scanning the market for the most yielding digital marketing strategies and practices for inspiration.
- Targeting existing as well as potential customer groups for better expansion and establishment in the market.
- Using the accumulated information and synthesizing it to pioneer unique and effective marketing strategies.
- Analyzing the scope for the successful launch of new products or services in the market and making calculative predictions about their reception among the target customers.
- Setting benchmarks with the success of all the specific campaigns.
What makes SEO Discovery’s competitor analysis different and better than its competitors?
SEO Discovery adopts unique and wholesome strategies for competitor analysis:
- Categorization of Competitors
We categorize the competitors into three groups:
- Primary Competitors- Those who deal in the same or similar products and services of the same quality and give direct competition in the market.
- Secondary Competitors- Those who offer a similar upgraded or degraded version of the same product.
- Tertiary Competitors- Those who deal in products related to your product and don’t compete with you directly.
- Sticking to the four Ps of marketing
We stand by the four Ps of marketing, namely,
- Product (specifications and quality)
- Promotion (on all suitable digital platforms)
- Price (to ensure affordability, competitiveness, and gross profit)
- Place (online or offline)
- Choosing the correct mode of competitive analysis
SEO Discovery also chooses a suitable mode and approach for competitor analysis for all its clients from the following options:
- PPC Analysis of Competitors
It is done by analyzing the ads, keywords, CTAs, and landing pages used by the business competitors of the client. It helps in uncovering the budget and goals of a specific company.
- Social Media Analysis of Competitors
It is done to know what social media platforms the competitors are using to drive sales and engagement. It helps gain more attention, popularity, and engagement than competitors on social media platforms.
These skills, knowledge, and strategies have made SEO Discovery the most efficient and prominent Competitor Analysis Agency worldwide in the realm of digital marketing and helped us get recognition and accolades from renowned agencies like SEMrush.