Keeping an eye on your competitors and knowing your competition is very important in digital marketing. This aspect of digital marketing can be likened to an espionage unit or spy and surveillance department of the government and is very vital to achieving success and ranking 1st in search engines or having high conversion rates. Make sure though that you limit yourself to surveillance of your competitors and not sabotage as competitors can quickly become allies on the online world. Also, there are heavy penalties for negative digital marketing practices online.
Who are your competitors?
Competition is the nature of business. With the increased use of the internet in buying goods and services, you are not just competing with your geophysical neighbors but competing globally. Competitors are not just businesses that can potentially take money away from your business, they could be new businesses offering substitutes or similar products that can make your own product or service redundant even if you “got there first” or started earlier than your competitors.
In digital marketing, doing an internet research is the fastest way to find competitors. For example, if you have a keyword in mind and type it in Google search, the results on the first page could be your competitors unless they don’t sell the same service or product that you do. Even the ones who are not selling your product could render your website “invisible” or outranked in Google and unreachable to customers so they could still be called competitors.
What do you need to know about your competitors?
There are many things that you can learn from and about your competitors which could help your company. A digital marketing agency can also help you get information from your competitors. For example, you can learn about what products and services your competitors provide and how they market them to customers. You can also learn about the prices of your competitors or how they distribute and deliver their products.
You could check out the techniques, strategies and technologies they use to gain customer loyalty as well as back-up services that they provide. You can learn about the brand and design values of customers through research. You might also want to know about whether they are innovating their business methods as well as their products. You can even learn about the numbers of their employees and the quality of their staff and talents. You might want to check out how they use their IT through their websites and email services.
Lastly, you can learn about their owners, founders and their management from information gathering. You can check their annual report if they are a public company. You can check their presence online and their media activities by checking websites, blogs, journals, articles, customer feedback, testimonials, forums and social media sites.
Why you need to know what your competitors are doing?
As long as you are abiding by the rules and laws of intellectual property, there are many things you can copy from your competitors. You can copy their best practices and avoid the mistakes that they might have committed in the past. This can give you an edge over them and other competitors. Knowing about your competitors can also help you learn a lot about your own business because competitors are always on the same niche as you are.
You can also build better relationships and connections as your competitors can become your allies if the competition is not very stiff. Aside from replicating and copying from your competitors, it is very important to align yourself with the competition. Becoming too deviant in business is very risky and can become dangerous as your competitors might work together to isolate and crush your deviant business in the market.
About EDM
Excel Digital Marketing is an internet marketing firm providing website marketing & promotion across an array of industries. Our main goal is to assist clients in obtaining more online traffic, leads and ultimately sales. We achieve this goal by utilizing several internet channels such as content marketing, SEO (Search Engine Optimization) and paid advertising.
Our main focus service areas are in the following cities: Arlington, Atlanta, Austin, Dallas, Houston & San Antonio at the present time. For more information please visit or main site located at: https://exceldigitalseo.com/