We'll explain why you need ongoing competitive analysis in digital marketing and how often you should do it.
Competitor analysis is usually carried out to identify the strengths and weaknesses of other market players, define your company's position in relation to them, highlight gaps and estimate your potential and opportunities to fill them.
So, what are the 6 basic steps?
1. Get updates on your competitors’ performance
2. Analyze your competitors’ SEO efforts and check what strategies they are using
3. Check your competitors' ads and get marketing ideas
4. Find out what your competitors are doing in the content marketing and PR departments
5. Check the competition’s social media accounts and analyze their activities and audiences
6. Review your findings while keeping your own strategy in mind
Watch this playlist to learn more about competitor research http://smr.sh/KdK
What is your competitive analysis workflow? How do you analyze the performance of your competitors? Let us know in the comments below!
Chapters:
00:00 Introduction
00:13 What is competitive analysis?
00:47 Why do you need continuous competitive analysis?
02:48 How often should you review your marketing strategy?
03:10 Key steps in a competitive analysis
USEFUL RESOURCES:
How to Perform Competitor Analysis and Improve Your Digital Marketing Strategy with SEMrush:
https://www.semrush.com/blog/how-to-do-competitor-analysis-in-digital-marketing/
How to do an SEO competitive analysis: https://www.semrush.com/blog/how-to-do-seo-competitive-analysis/
Full capabilities of SEMrush Traffic Analytics and Market Explorer: https://www.semrush.com/blog/10-things-traffic-analytics-market-explorer/
TOOLS MENTIONED IN VIDEO:
Traffic analysis: https://www.semrush.com/analytics/traffic/
Market Explorer: https://www.semrush.com/market-explorer/overview/
Organic search: https://www.semrush.com/analytics/organic/overview/
Advertising research: https://www.semrush.com/analytics/adwords/positions/
Brand monitoring: https://www.semrush.com/content-marketing/brand-monitoring/
Backlinks analysis: https://www.semrush.com/analytics/backlinks/
Social Media Tracking: https://www.semrush.com/social-media/
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