DIGITAL MARKETING COURSE ON COMPETITOR ANALYSIS
Motto: “Be a Step-Ahead of your Competitors in Digital Marketing”
Introducing Competitor Analysis training program focusing on, ‘How Competitors within your industry are managing themselves in digital environments to reach new customers and drive online user engagement?’
Discover your true online competitors and how you can gain a clear advantage through analysis of their activity. If you can identify areas of relative strength & weakness, and then match them to clearly identified customer needs, then your Organisation will enjoy much greater returns. It is not a mysterious art of whisper and anecdote – there are some straightforward actions you can take today to build a picture of what your Competitors are really up to in the Online Business generally.
Understanding the need, we’ve come up with this Digital Marketing Competitor Analysis course, which will help to;
*Identify your top Competitors in Digital Marketing space
*Learn what your Competitors are doing online
*How and where your competitors are marketing themselves online?
*What are their estimated online marketing budgets?
*What technologies/channels are they using including SEO, PPC, Display, Social etc,
*What keywords are they ranking for in online searches?
*Where are they engaging their audiences most effectively?
*What their strengths are online and more importantly, what are their weaknesses?
With a better understanding of your online competitors, your team can strengthen itself in areas that matter most.
Competitor Analysis Course Content:
-Introduction to Competitor Analysis (SWOT) – Digital Marketing Competitor Analysis – How to Spy on Competitors – Live demo on top 10 Competitor Tools – Digital Marketing Strategy – Research & Analysis Reporting – Exam
Who Should Attend Competitor Analysis Training:
Anyone who is directly or indirectly involved with Digital Marketing, one who is involved in Online Business plan or making strategic decisions, online start-ups or business owners, offline marketers
For further information / Registration for Digital Marketing Training:
Contact Ranjan Jena @ +91-7760969452 | firstname.lastname@example.org | Bangalore, India | www.onlinepaidlook.com/about-me
Additional info, keep this Marketing Planning Model in mind and do the digital marketing competitor analysis;
Let’s understand S M A R T for Competitive Analysis
There comes a point in every person’s life where he starts to doubt his own abilities and talents. He loses direction and does not focus on important things rather, he poses a threat to his own career and personal life. When you are just not able to figure out what exactly you want it’s better to set a GOAL in life!
What’s a goal???
It’s clearly defined as personal objective which you want to achieve in a specific period of time. They are very good self-motivators and helps in building up self-confidence, can be used as measuring tools for achievements.
Now, apart from setting your goals you also have to analyze and conceptualize things that you would want to achieve in any sphere of life; be it the career, family, education, finance or anything.
Now, its always advisable to set your long-term goals and then break them down into smaller ones which would eventually lead you to your temporary destination. You have to set precise goals like dates, time, amount. Make sure that the goals set are realistic and small so that after you achieve them you derive a sense of satisfaction and you feel that you are making constant progress.
Now the best way is to use the SMART Technique where;
- S – Specific
- M – Measurable
- A – Attainable
- R – Relevant
- T – Time Bound
Every time you achieve your goal, appreciate yourself and review your goal plan. If what you achieved was done without any effort then you should actually aim for something higher and more difficult, and at the same time what you achieved was done consuming more time than anticipated you have to target for something a little more easier.
This kind of review and constant changes would actually bring about a momentum towards the vision of your future eventually accomplishing your Mission.
Let’s understand A I D A for Competitive Analysis
A organic food lover is suddenly stopped at a crossroad with mouthwatering pictures of fruits and vegetables, and they also claim it to be organic with free home delivery with a few bonus points if purchased in a given set of time. What do you think this person would do???? I’m sure he would run to the store and purchase it for the brownie points or at least would visit the store to check whats really happening. This is exactly what AIDA is.
- A – Attention (the picture grabs attention)
- I – Interest (organic increases interest)
- D – Desire ( bonus points motivates desire)
- A – Action (gets into the store to buy)
The basic principle of AIDA is to grab the attention of the target audience and set the momentum by trying to keep their interest in the advertisement and slowly woo them into desiring the product and then the action is definitely carried out without any problem.
It is definitely not as easy as it sounds, but if the correct kind of advertisements is used for the right audience the desired result would be easily achieved.
Now let’s go through the 4 features;
Normally to grab a person’s attention big pictures are used which looks very desirable to the target audience. A trendy treadmill for a person who wants to choose a healthy and fit life, baby products for people with kids or the ones expecting them, clothes for people who would want to buy a few, so on and so forth. Now their attention is grabbed.
After the first step, it is very important to keep the interest of the target audience alive. That could be achieved by stressing on some words like discount or free or something related to their requirements, for e.g., “Treadmill at DISCOUNTED rate”, “baby products which accommodate all YOUR BABY requirements”. This would develop an interest in the product and they would continue reading it.
Once they are done reading it automatically it triggers a desire to check the product and they walk into the store and now all you have to do is just let them know, how the product is going to help them in real life? Once they get an understanding of the product and your genuineness its all well from there.
They would buy the product if all the above criteria’s are fulfilled.
So next time you write a blog post on promoting your product it would be advisable that you follow the AIDA strategy and get to your goals with flying colors. This is a simple yet effective tool.
Let’s Understand S O S T A C for Competitive Analysis
SOSTAC is a powerful tool used to make business plans, marketing plans, digital plans, operational plans as well as personal plans. It is a very simple tool and an acronym used for;
- S – Situation Analysis
Where are we now?
- O – Objectives
Where do we want to get?
- S – Strategy
How are we going to get there? —“Big Picture”
- T – Tactics
The detailed way to get to the big picture, way to work towards the Strategy
- A – Actions
Who is going to do what and when?
- C – Control
How can we control and develop the Process?
Let’s take each features one step at a time;
Situation basically takes us through a variety of questions which when answered could help us build strategy for the future like checking about the performance time and again, what are the advantages of our distinctive marketing, is our marketing mix really effective, are we pitching for the right kind of customers using appropriate channels of distribution and communication, the PEST factors that could affect our business. If these questions are answered to then all the areas of SITUATION are covered.
This is where our mission, vision comes to light. We define and work on our vision so as to achieve our mission. Our marketing objectives and business development plans are to be defined. SMART objectives are taken care of.
Let’s Understand D I S C for Competitive Analysis
While we think of life as a beautiful cruise ship and the people we work with or live with as our fellow passengers, nevertheless a few companions just get annoyed or are forever offended by you no matter, how hard you try to make this cruise ship experience a splendid one. There is always this one person who makes it just impossible to just give in and u keep trying!!! Sounds familiar right???
Every company has a diverse set of employees and every person’s attitude and behavior is definitely wired differently and to contemplate their thoughts, and likes and dislikes is very difficult to comprehend. If you know the basic character of an employee we can approach that particular person in a way that he could be approached without being offended or annoyed.
This is exactly, why DISC was designed which classifies people’s behavior into 4 types by looking at their preferences on two scales;
- Task versus People
- Fast-paced versus Moderate-paced
What exactly does DISC stand for?
- D – Dominance
Direct, result-oriented, firm, strong-willed, forceful
- I – Influence
Outgoing, enthusiastic, optimistic, high-spirited, lively
- S – Steadiness
Patient, even-tempered, accommodating, tactful, humble
- C – Conscientiousness
Analytical, reserved, precise, private, systematic
By using the test, we come to know the behavior of a person and it helps to approach the said person in a way that would be welcome to him. It helps us analyze, if an employee is a people person or a task-oriented person, and makes it very easy for every person to approach each other in the best way possible.
Let’s Understand PEST for Competitive Analysis
While starting a business, there are a lot of factors that come into being and a lot of them are beyond your control. If you are not really prepared for the same, you might just be taken by surprise and the upward trend of your success could just slide down.
A few common but important factors are:
- How the new laws and government policies could affect your organization?
- The kind of technological developments are likely to hinder or help your progress?
- How the people’s lifestyle affect the value of your products?
Now, these are the kind of issues that could bring about a stall in your Organizations development and this is when the PEST analysis becomes so useful.
PEST helps you to avoid initiatives that are likely to fail because of factors beyond your control & spot opportunities that you can take advantage of.
PEST stands for;
- P – Political
How can a change in government bring a turmoil in the way your organization functions?
- E – Economical
What is the economy likely to be doing in the next few years?
- S – Socio-cultural
Generational changes that are likely to be significant, which could affect the way your organization functions
- T – Technological
Would the developments in technological changes be a threat to your business?
You got to brainstorm issues related to each of the topics and come out with the best strategy to overcome any kind of eventuality. For example, while talking about political, what would the government be like while doing business, how stable is the government and its tax policy when would be the next election and who is the prospective winner and would that really hamper your business or would it just delight it? These are the kind of questions that you should be prepared for. Always have a solution in the most adverse situations.
Coming to the Economic Factors,
You have to consider the effect of globalization on your organization, what is your economy likely to be doing in the next few years? what would be the projected economic growth in your region? What are the labor costs? Is the economy likely to be stable and the methods to raise finance?
Next comes the Socio-economical Changes,
Are there any social taboos or cultures that your organization is overlooking, is the population getting older or younger and, if the generational changes that are likely to be significant which could hamper your organizational growth.
The last to consider is Technological,
Here you have to consider the impact of emerging technology, R&D on your business and you come up with new developments? Is any new technology threatening your business? Could new technology disrupt your method?
You have to prepare yourself to face any kind of eventuality by doing a thorough analysis of each of the above 4 factors. You have to draw conclusions from, what you have identified? PEST helps you look at the “big picture” while planning for the future. You can draw conclusions and prevent potential threat well in advance and also take up opportunities that come your way.