7 Guidelines for Competitive Business Intelligence & SEO Market Research
Paid Search Marketing, Search Marketing Tools, SEO – Facebook – Google+ 1 – LinkedIn – Twitter – Pinterest
When it comes to success with search engine marketing, half the battle is in knowing what your competitors are up to and being able to exploit that information to your advantage. Having the right competitive business intelligence tools and being able to decipher what they show with regard to SEO market research is essential to staying one step ahead of your competition. The following seven guidelines will help you understand that there is a right way to approach gathering competitive business intelligence and how to use that SEO market research effectively to increase your chances for success.
1. Gather Marketing Research Data Methodically
2. Acquire the Right Business Analytics Tools
3. Always Gather Updated Competitive Intelligence
4. Be Precise, but Think Big Picture
5. Keep Your Business Analytics Market Research Current
6. Establish and Remain Consistent with Business Intelligence Indicators
7. Separate Yourself from Your Competition by Always Knowing What They Are Doing
For example, with some analytics tools, such as SEMRush, you are able to understand the competitive strategies of the top players in the search market. You can compare how your website performs against named competitors for both organic and paid search traffic volume. You can even see what kinds of messages your competitors serve one those same terms to see if you can beat them.5. Keep Your Business Analytics Market Research Current
Business analytics market research is only as valuable as how current the information is that you are using to gain insights and make directional decisions for your online search marketing campaigns. Basing your decisions and strategy on outdated data could damage your business, and may take months to recover lost revenue. Current and sufficient data is critical, as the digital landscape move so fast. By the time you finish reading a traditional competitive analysis report, the data is too old to actually give you the relevant insights you need. Having search engine marketing business analytics tools at your beck and call are invaluable for their complexity of insight and timeliness of information.6. Establish and Remain Consistent with Business Intelligence Indicators
Let’s face it, CEO and CMO’s are busy. They often do not have the time or the capacity to sift through reports full of big data. They just want to know the key insights needed to make decisions better and faster. That is why it is very important to establish key business intelligence indicators, sometimes known as KPI’s and remain consistent with them. Competitive intelligence must be completed in a way to transform complicated big data into meaningful numbers, so all marketing people can easily understand and use our intelligence as a common KPI.7. Separate Yourself from Your Competition by Always Knowing What They Are Doing
In every single industry, there will always be a certain amount of companies all competing for valuable market share and incremental revenue. New companies will enter and old companies will leave. You cannot expect to base your strategies online to match what your competitors are doing, or you run the risk of always falling behind. Learn what your competitors, both new and old are up to and then do it better than them. Convince your audience that you are the best solution to meet their needs. Expand your reach into marketing channels where your competitors are not. Never stop!
If you follow these seven guidelines for competitive business intelligence and SEO market research, adjust them to meet your own personal business goals and needs, you will quickly find yourself at the top of the market with new found success