Competitive research is an area that’s either completely overlooked by a brand, or taken to an extreme level while missing the basic goals that need to be reached. Because competitive research becomes a cornerstone for strategy development, it’s important to research from inside the trees, and outside of the forest.
Overall, brands need to:
- Identify what others are already doing in the space, and how successful they are.
- Identify areas of opportunity and weaknesses within their specific vertical.
- Identify what tactics a competitor is using to gain a competitive advantage.
What We’re Doing
We approach competitive research with these fundamental questions:
- What is their link building strategy?
- How are they leveraging social media?
- Identify areas of weakness or opportunity in their strategy (notice whether they’re focusing strictly on their brand, or expanding into other social areas for maximum reach).
- How all these facets work together: focus on their overall “marketing strategy” rather than segregating them into “search” and “social.”
- Continuing the stalking with tips and tools.