Competitor Research Services
Industry research is information gathering about industry markets or customers. This important business strategy aspect focuses on research on the breaking news of the industry, industry financial, industry developments, marketing trends, & future industry forecasts. Developing a strong industry research campaign & industry market analysis will help sales & marketing teams perform faster, smarter, open doors & close more deals.
Competitor Research Benefits
Doing a competitive analysis is a vital step in making an effective internet marketing strategy. A complete competitive analysis will give usable metrics & help marketers in their strategic goal-setting & planning. Doing a complete competitive analysis will direct the Web development project in the right direction.
Competitor Research Application
What to analyze:
Start by listing your top competitors that compete in your market & visit their websites. Here’s what to assess on your competitors website:
- Home page: Is the home page informative & websites purpose well-stated? Is the proper mood & tone set for visitors? Is it fast-loading & error-less? Is there a clear telephone number for prospects to call?
- Navigation: Is the navigation consistent as you page-hop through the site?
- Site organization: Is the site easily understandable? Does the navigation make sense to visitors?
- Links & labels: Are links easily distinguishable & working? Are there broken links?
- Search and search results: Was the search engine function easy to find & use? Are there basic & advanced search functions? Are they accurate & relevant?
- Readability: Is the font easily readable & line lengths acceptable? Is it easily scanned, with chunks of info, or solely text blocks?
- Performance: Do pages load fast or slowly? Are graphics & multimedia optimized for easy web viewing? Does any multimedia play correctly? If an update on multimedia software is required, is there a link available?
- Content: Is the content relevant? Does it meet your expectations? Is the site content unique or using other sources?
It’s a good idea to take & rate your competitors on a scale of 1-10 on an all-inclusive performance scale. Look at how your competitors are attempting to reach your prospects.
Competitor Research Services
Competitor research looks at the weaknesses and strengths of potential competitors. In business, you must know who’s your competition or you’ll drown in the business world. There’s many ways & steps this can be done including:
- Define your industry in both scope and nature.
- Determine who’s the competition.
- Figure out who your customers are & their wants.
- Figure out what’s the key industry success factors.
- Rank the main success factors by giving each one a weighting – The sum of all the weightings must add up to one.
- Rate each competitor on each of the key success factors
- Multiply each cell in the matrix by the factor weighting.
For More Information
Forward Marketing (FM) is a full service marketing firm specializing in Internet “ROI” with complete Marketing & Keyword Research Services. We also manage the Houston Internet Marketing Forum (HIMF), the Houston Website Designer Forum (HWDF), and related seminars with partners such as the Art Institute of Houston. For more information, Contact Us, Follow Us via social media, or call us at 713-449-2000.
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