I currently utilize several applications that have significantly enhanced our competitor analysis:
- Search analysis platforms to track competitors' keyword performance
- Brand monitoring platforms to follow competition's social activity
- Site monitoring platforms to track updates to their online presence
- Newsletter subscription to obtain their promotional messages
Twelve months ago, my local business was barely surviving to reach new customers. Our digital storefront was nowhere to be found in Google listings. That's when I made the decision to invest in professional website ranking help.
Recently, a skincare retailer allocated 300,000 SAR in conventional marketing with minimal returns. After moving just 25% of that investment to influencer marketing, they saw a dramatic growth in revenue.
I use a basic spreadsheet to track our competition's costs modifications on a regular basis. This has helped us to:
- Identify seasonal discount patterns
- Recognize package deal approaches
- Grasp their pricing psychology
A cosmetics company changed from multiple single engagements to sustained associations with a smaller number of influencers, resulting in a 164% improvement in conversion rates and a 43% decrease in marketing expenses.
Key improvements included:
- Transparent shipping times for diverse locations of the Kingdom
- Different fulfillment selections including expedited fulfillment in major cities
- Complete visibility with native updates
- Adjustable timing for deliveries
Helping a culinary business, we developed a strategy where influencers naturally integrated products into their daily lives rather than generating obvious advertisements. This strategy resulted in interaction levels significantly higher than standard advertising posts.
I invest at least two hours each week reviewing our competitors':
- Online organization and UX
- Content strategy and content calendar
- Social media activity
- User feedback and assessments
- Search tactics and performance
Six months into business, our conversions were dismal. It wasn't until I accidentally a comprehensive report about our industry that I understood how blind I'd been to the competitive landscape around us.
When I started my online business three years ago, I was sure that our special products would stand out naturally. I overlooked competitive research as unnecessary – a choice that nearly cost my entire company.
Effective strategies included:
- Selecting items suitable for Saudi tastes
- Adapting merchandise details to emphasize characteristics important to Saudi consumers
- Seasonal collections for cultural events
- Dimension modifications for Saudi norms
Not long ago, I watched as three competitors spent significantly into developing their presence on a specific social media platform. Their attempts flopped as the platform turned out to be a mismatch for our market.
Initiate by listing ALL your rivals – not just the major top SEO firms comparison ones. During our investigation, we discovered that our most significant threat wasn't the established brand we were watching, but a emerging company with an unique approach.