– How Do You Stack Up? Competitor Analysis | Boston Digital

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As you study your competitors, your goal should be to answer the following questions: Are they looking to grow or maintain? Try Qualtrics for free Free Account. What types of content are published the most? A competitor analysis — also called a competitive analysis — identifies your industry competitors and evaluates their strategies to determine areas of opportunity for your business. Essentially, if children have a free hour in their day, they can either decide to download a game or to read a book. Your competitors are walking the same road you want to walk on to succeed in business.
 
 

 

– Who are the main competitors

 

Read article. While we may not all have the investigative powers of Sherlock Holmes, that doesn’t mean we need to take a blind approach to our competition. Here are our best practices for how to identify both your indirect and direct competition. By Amy Biggart February 22, Competitive research is the backbone of a strong marketing strategy.

But how do marketers identify their primary competitors and their strategies? Here is our five-step strategy for how to identify your competitors, research your competition, and channel it into powerful marketing that meets your customers needs.

The first step to finding your competitors is to differentiate between your direct and indirect competition. Direct competition is a term that refers to the companies or publishers who sell or market the same products as your business. Your customers will often evaluate both you and your direct competitors before making a purchase decision or converting.

They may write the same type of content as you and be competing for the same keywords. As you craft your marketing strategy, you need to be aware of both your indirect and your direct competition. A thorough understanding of your product and the value it provides to your audience or customers is crucial to identifying your direct competition. If you work for a sneaker brand, for example, you are not simply in competition with other sneaker brands.

Only by looking at your product and evaluating its value you need to know not just that your sneakers cover and protect feet, for example, but also that people might evaluate them for durability, athletic use, and style , will you realize the full scope of your competition. Take a look at the market for your product and evaluate which other companies are selling a product that would compete with yours. Talk to your sales team and find out which competitors they see come up often in their sales process.

Again, your customers are the key to unlocking your direct competitors. In addition, during the sales process your sales team can also ask your potential customers which businesses they are considering. In this day and age, your potential customers will often seek out advice and recommendations on social media sites and apps, or on community forums like Quora or Reddit. This is especially true for any marketers speaking to millennial audiences.

But enough about your direct competitors. How do you identify your indirect competitors? Your indirect competitors have just as much influence on your selling process as your direct competitors. So how do you discover them and track them effectively? Keyword research is the best way to identify your indirect competition.

By conducting a competitive SEO analysis , you can determine which businesses or publishers are competing for space on Google. After all, many of your customers are looking for your products and solutions by typing them into search engines. If you are currently using an SEO platform or technology, you may find that your SEO technology can help you identify competitors with data and insights. It also can tell you which websites are ranking for a keyword important your business.

These represent your indirect competitors. Click to enlarge. When it comes down to it, many of your indirect competitors are writing about topics close to your value proposition. From there, type the keywords into Google and see who is competing with your content on search engines. Anyone writing content around your value proposition, represents a person, blog, business, publication, or organization that is the indirect competition of your business.

Head into AdWords and scan those keywords that are important to your business. Is there a lot of competition for any of those keywords? If there is, check out which businesses or websites are purchasing ads for those keywords.

Those also might be known as, say it with me: your indirect competition. Again, at this stage, keyword research can really help you decide where to put your efforts. If your competitors are targeting specific keywords with their content, where is there opportunity to outperform them? Are they implementing a particularly strong keyword strategy? What insights can you glean from that? From there, you can look toward opportunities to either compete with them directly for attention around specific topics or questions, or differentiate your approach by looking for gaps in their content or new angles to approach questions your audience is posing.

Lastly, you can always go back to paid data. If your indirect or direct competitors are putting money behind ads, you can be sure those keywords represent important business initiatives. This will also provide insight into where your competition is placing their efforts and money. When it comes to marketing and competition, it is absolutely essential to approach competitive analysis strategically.

You have all the tools you need to develop a thorough understanding of your direct and indirect competition, and build a stronger marketing strategy based on that knowledge. So what are you waiting for? What is Indirect Competition? A few effective techniques for identifying direct competitors: 1.

Market Research Take a look at the market for your product and evaluate which other companies are selling a product that would compete with yours. Solicit Customer Feedback Again, your customers are the key to unlocking your direct competitors. Check Online Communities on Social Media or Community Forums In this day and age, your potential customers will often seek out advice and recommendations on social media sites and apps, or on community forums like Quora or Reddit. How to Identify Indirect Competitors Your indirect competitors have just as much influence on your selling process as your direct competitors.

Keyword Research Keyword research is the best way to identify your indirect competition. To get started analyzing your indirect competition, check out our guide to the SEO competitive analysis. More from my site What is a Facebook Dark Post? About the Author: Amy Biggart Amy is a content marketer trying to make the world a happier and funnier place, one well-placed gif at a time. When she’s not drinking coffee, she helps produce, edit and publish content and creatives for startups.

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Who are the main competitors –

 
 

Ne w Balance is also one of the renowned brands of sports shoes and apparel and one of the leading competitors of Nike in the United States. Based in America, New Balance is a sportswear, footwear, and apparel brand that was founded in Apart from that, it also makes and sells apparel including bottoms, jackets and vests, hoodies and sweatshirts, shirts, pants, tank tops and apparel for various sports activities.

New Balance has established a strong position in the US, where it is among the main competitors of Nike. Columbia Sportswear is also one of the well known names in the world of sports shoes and apparel. The focus of Columbia Sportswear is on developing special technologies and products for outdoor activities. Columbia Sportswear makes and sells products including sportswear, gear and equipment designed for various outdoor activities like hiking, trekking, skiing, travelling and other outdoor activities.

Columbia has continued to improve its product portfolio and the technologies it uses for production. Just as the leading brands like Nike and Adidas, it has also outsourced most of its production to external suppliers. It has developed special technologies and design philosophies with the potential to revolutionize the world of sports. While Nike is the overall market leader in the sports shoes and apparel industry, ASICS is among the leading manufacturers of athletic and running shoes.

Athleta is a brand of athletic apparel owned by Gap Inc. The brand offers active, sustainable and technical apparel to help girls and women follow a more active and healthy lifestyle. Athleta makes and sells apparel for various activities including running, yoga, sports, travel and other health related activities for women.

Lululemon has also acquired a lot of fame as a leading athletic apparel company. Now, it sells apparel for both men and women and targets customers who like living an active and healthy lifestyle. It designs and sells products that are especially made for healthy activities like yoga, running and workout. It has developed a special raw material called Luon, which it uses as the fabric for making Lululemon clothes. Lululemon also acquired Mirror, a special platform with more than 10, workouts to help its customers follow a healthier lifestyle and workout at home.

Mirror is like a large screen that can be fitted in your living room and can be used to learn from professionals. Lululemon also depends on external suppliers for production. Abhijeet has been blogging on educational topics and business research since He graduated with a Hons.

He likes to blog and share his knowledge and research in business management, marketing, literature and other areas with his readers. Notesmatic uses cookies. Read article. While we may not all have the investigative powers of Sherlock Holmes, that doesn’t mean we need to take a blind approach to our competition. Here are our best practices for how to identify both your indirect and direct competition. By Amy Biggart February 22, Competitive research is the backbone of a strong marketing strategy.

But how do marketers identify their primary competitors and their strategies? Here is our five-step strategy for how to identify your competitors, research your competition, and channel it into powerful marketing that meets your customers needs. The first step to finding your competitors is to differentiate between your direct and indirect competition. Direct competition is a term that refers to the companies or publishers who sell or market the same products as your business.

Your customers will often evaluate both you and your direct competitors before making a purchase decision or converting.

They may write the same type of content as you and be competing for the same keywords. As you craft your marketing strategy, you need to be aware of both your indirect and your direct competition. A thorough understanding of your product and the value it provides to your audience or customers is crucial to identifying your direct competition.

If you work for a sneaker brand, for example, you are not simply in competition with other sneaker brands. Only by looking at your product and evaluating its value you need to know not just that your sneakers cover and protect feet, for example, but also that people might evaluate them for durability, athletic use, and style , will you realize the full scope of your competition.

Take a look at the market for your product and evaluate which other companies are selling a product that would compete with yours. Talk to your sales team and find out which competitors they see come up often in their sales process. Again, your customers are the key to unlocking your direct competitors. In addition, during the sales process your sales team can also ask your potential customers which businesses they are considering.

In this day and age, your potential customers will often seek out advice and recommendations on social media sites and apps, or on community forums like Quora or Reddit. This is especially true for any marketers speaking to millennial audiences. But enough about your direct competitors. How do you identify your indirect competitors? Your indirect competitors have just as much influence on your selling process as your direct competitors. So how do you discover them and track them effectively?

Keyword research is the best way to identify your indirect competition. By conducting a competitive SEO analysis , you can determine which businesses or publishers are competing for space on Google. After all, many of your customers are looking for your products and solutions by typing them into search engines. If you are currently using an SEO platform or technology, you may find that your SEO technology can help you identify competitors with data and insights.

It also can tell you which websites are ranking for a keyword important your business. These represent your indirect competitors. Click to enlarge.

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