Most companies in the business world are taking a leap towards imbibing a digital strategy for their company. In these competitive times, it is difficult to stand out and get noticed. But don’t worry, the super power of the internet will help you carry out a competitive analysis that can help you pace ahead of your competitor’s digital marketing strategy. Let’s go through a step-by-step process on how to build your digital strategy.
Identify Your Competitor’s
The first step that you need to do is identify who your competitors are on a granular and general level.
General level of identifying is to see the ranking of your competitor’s on Google. Different brands position themselves differently and have different keywords that they use – for example, ‘influencer marketing’ will rank different than ‘marketing gurus’, etc. You need to identify the key word, in this case, ‘marketing’; so that you can understand the industry’s sub-sectors and major players that fall within them.
Granular level of identifying is to explore more about competitor’s in your industry and checking up on how your digital strategies are compared to theirs. You need to note things like where they are driving traffic from, top sources of referring traffic and your competitor’s competitor.