Know Your Competitors’ Marketing Strategy

Know Your Competitors’ Marketing Strategy

As website owners, we often compare our sites with others. We put them in benchmark, try to know their traffics, page views, bounce rates and compare with ours, side by side. In fact, we often track every aspect of our competitor’s marketing, including their product and service ranges, promotions, advertisings, social media announcements, as well as daily website activities. The reason we do competitive analyze is to identify the market to find out whether there is any opportunity for us to improve and stay ahead of everyone. If you haven’t done it yet, there is no better time than now to start working on it.

Know Your Competitors’ Marketing Strategy

Step 1:

Follow Your Competitor’s Social Media
Marketing cannot be successful if it is separated from the rest of the departments. Understanding the overall business objectives help getting rid of any previous online marketing mess. For example, knowing the overall business objectives in terms of revenue growth can help you take future steps easily and let you plan how you can secure your marketplace position. Sales will raise when the connection between marketing, leads, and sales for revenue growth is transparent.

Step 2:

Subscribe in Competitor’s Mailing List
Email marketing is still a great way to reach your current customers. Almost every successful online business use it to a great deal. Sign up to your competitor’s mailing list and you would know what they are offering to their customers.

Step 3:

Monitor Their Websites
If your competitors are mostly online based then the best way to know them is to monitor their website. And if you do it well, you can easily identify your competitors’ marketing strategy, where you need to improve. Because when you look into them precisely, you can identify what marketing messages are directed to your customer, and once you provide better than those can let you stay on the top of the game.

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