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Take your marketing strategy to the next level through effective competitive analysis. Not sure where to begin? Continue reading to learn more about using your competitor’s marketing strategy to boost sales in your own business.
Post contains affiliate links. Disclosure can be viewed here.
Learn More About Their Traffic Sources
Learn more about the types of content that are performing best to gain key insights into the needs and preferences of your target audience. Discover traffic-drivers for your competitor’s website, and tailor your content, products, and service offerings to those needs.
You can also learn more about the various methods your competitor uses to generate traffic to their marketing channels.
Identify the Customer Journey
Once you’ve studied your competitor’s process of generating traffic, you can use that information to map out your own strategy.
Perhaps there is a certain influencer you need to reach out to or a specific ad placement you need to consider. This is the type of information you can acquire by studying your competitor’s customer journey.
Keep an Eye Out for Upcoming Market Trends
If you want to grow your market share, you need to stay ahead of the game. Identify changes and trends taking place in you market so that you can shift your strategy accordingly. If you notice your competitor’s moving in a certain direction, this may be a signal of an upcoming shift.
While this may seem like a lot to manage, there are platforms that offer Competitive Intelligence such as Semrush. You can take advantage of these tools to unveil traffic trends and increase your bottom line.
You can learn more about Semrush and their wide range of digital marketing tools, as well as sign up for a FREE TRIAL here.