Many companies do competitor analysis at the beginning, when they develop their digital marketing strategy, and then never go back to it. This is a serious mistake because, in many cases, knowing how competitors are moving allows you to adjust the direction of a campaign. The result? You avoid wasting time and money.
This article will show you the main points of a competitor analysis that you should undertake once your campaign has been running for a while. See the key metrics that we recommend tracking on each online marketing channel and how you can features of our advertising database get the information you need with SEMrush tools.
Who should you analyze as your competitor in digital marketing?
Why do you need ongoing competitor analysis?
How Often Should You Review Your Digital Marketing Strategy?
How to Analyze Your Competitors' Digital Marketing Strategies: Key Takeaways
1. Get updates on your competitors' performance
2. Analyze your rivals' SEO efforts
3. Get marketing ideas from your competitors' online ads
4. Look at what your rivals are doing in content marketing and public relations
5. Monitor your competitors' moves on social media
6. Review the results with your goals and strategy in mind
Who should you analyze as your competitor in digital marketing?
Competitive analysis typically includes your direct and indirect competitors – those who provide the same (or similar) solutions to your same (or similar) audience.
Your online competitor analysis should cover all of these, plus another group of rivals : all those brands that want to capture your users. They don’t necessarily have to sell them a similar product or service, but they are trying to grab their attention.