How To Use Competitive Intelligence
- 1. 5 Steps to Online Marketing Success Using Competitive IntelligenceA beginner’s guide to competitive intelligencePresented by: Karen CostaOnline Marketing Specialist compete.com
- 2. What is competitive intelligence?About Compete and Compete’s Data5 Simple Steps to Online Marketing SuccessBrief Q&A Agenda
- 3. The action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executive s and managers in making strategic decisions for an organization.What’s Competitive Intelligence?
- 4. each month Compete’sOnline Consumer Panel measures2 million US online consumers
- 5. Compete & Local AnalyticsWhy the numbers aren’t exactly the same…Compete tracks actual users versus individual pages on websites.Compete’s numbers are unaffected by cookie deletion & non-human behaviorBoth technologies have strengths and weaknesses but compliment each other to help you get a better understanding of your competitor’s online strategy.
- 6. How can you add value to your business with Compete PRO?
- 7. Step 1: Formulate a Strategy & Know the CompetitionCreate a timeline for yourself and your competitive set Product releasesIndustry newsEventsCorrelate these events with shifts in site performance.Industry trendsSeasonal changesCampaign performancehttp://www.flickr.com/photos/eivindw/
- 8. BenchmarkCreate Competitive SetsCompetitors large & small
- 9. Keep an eye out for break-out competitionIdentify Industry LeadersWho had success in site engagement & popularityLook for the “Why” New product offerings
- 12. InvestigateStrategy Dive Deep for Top Performing CompetitorsSubdomain ActivitySearch ActivityTraffic ReferralsIdentify the root of your competition's stellar performance using compete’s tools. http://www.flickr.com/photos/loungerie/
- 13. Take ActionFinding areas of opportunity with compete metrics
- 14. Step 2: Understand Your Competitors’ Search AnalyticsDig yourself out of the keyword rutTake advantage of search work tested & implemented by your competitorshttp://www.flickr.com/photos/loungerie/
- 15. Search Analytics- what can we see?Daily Search Referrals
- 16. Keywords
- 18. Paid Share
- 20. Total Time Index
- 21. Export as CSV
- 22. Natural ShareStep 3: Copying is a form of flatteryUncover where your competition is getting traffic & where that traffic leaves after visitingBuild relationships with similar partners (affiliates, advertisers, bloggers, influencers)http://www.icanhascheezburger.com
- 23. ProspectingFind the right partners, publishers & clients using thorough qualification tacticsSpend more time perusing and less time qualifyinghttp://www.flickr.com/photos/mauricekoop/
- 24. Referral AnalyticsUncover where your competition is getting traffic & where that traffic leaves after visitinghttp://www.flickr.com/photos/lfodness/
- 25. Step 4: Fix your leaky bucketsCreate conversion funnelsIdentify where customers drop off using destination traffic reports to find out where users go after they leave your sitehttp://www.flickr.com/photos/44442915@N00
- 26. Recapture lost leads so business can bloomCreate conversion funnelsIdentify where customers drop off using destination traffic reports to find out where users go after they leave your siteReward customers for coming back and bringing other new customers with loyalty programshttp://www.flickr.com/photos/44442915@N00
- 27. Step 5: Stay on topFrequent checkups help ensure your website stays healthy. Monitor your benchmarks and KPI’s regularly.Integrate competitive intelligence as part of your online marketing strategy. http://www.flickr.com/photos/helga/
- 28. Lather, Rinse, RepeatLike any online marketing strategy, there is no simple fix.Arm your organization with tools to succeed. Competitive intelligence complements all analytics packages. http://www.flickr.com/photos/flashpro
- 30. Thank you! For questions, contact kcosta@compete.comPresented by: Karen CostaOnline Marketing Specialist compete.com