How Your Competitors Position Their Brand
By performing competitor research, you can gain valuable insights into your industry. You can use this information to learn from your competitors’ mistakes and make sure that your brand stands out from the crowd.
Identifying what your competitors are doing well will help you improve your website. There is no reason why you should not use them as a learning tool. They may not have better products or a better service than you, but if they perform more effective marketing campaigns they might attract more customers.
So, here’s a few things you can do to effectively monitor your competitors:
- Sign up to their newsletter
- Follow them on social media
- Read their blog
The first thing you should do is sign up to your competitor’s newsletter. Their newsletter is how they position themselves and their brand to already existing customers.
Even the sign-up process is important to understand. Do they offer money off for signing up? What wording do they use? What email platform do they use? Answering these questions will help you understand how they entice potential customers to sign up and existing customers to come back.
Then, once you start to receive your competitor’s emails, you can see how often they send them. Try to spot patterns e.g. is there any particular day or time they stick to?
Finally, read the content of the newsletter. What title do they use? What is their leading story or deal? Do they have more content on the rest of the email, or does it just focus on one subject? How do they attempt to bring customers to their website?
Once you have an understanding of what may work best, it’s time to test it out on your website or as part of your online marketing efforts. Invest in UX writing and build your email lists.
Following your competition on social media tells you what their brand marketing strategy is day-to-day. However, it should be said that you should never engage with any competitor post.
You will gain an understanding of how they present their brand and how they would like to be seen by their customers. They may also present themselves slightly differently on different platforms, tailored to different audiences. When using LinkedIn Ads, they may be professional, on Instagram more personal, on Twitter more informative, and on Facebook a mixture of personal and professional.
If you use social media, it is important to understand each audience and how best to interact with them. Many businesses opt to use a social media management service for all the benefits of competitor research and the expertise to run campaigns.