Learning from Your Competitors Can Be the Framework for Your Marketing Efforts

In research, in-context observation is a simple method of data collection that involves observing behavior and trends. This can especially be useful in marketing, especially when you take a look at the efforts that competitors are doing to push their marketing goals further. If you don’t have the time to take a look at what they’re doing, then here’s a short guide.

Direct or Indirect Competitors?

Before that, you can start by determining the type of competitors they are. Direct competitors offer the same product or service as you while indirect competitors don’t necessarily offer the same but provide alternatives.

Playing the Customer

Even for a day, you can put yourself in the shoes of your customers. You can check out their website and take a look at the work they’ve put in, from the design of the website to the content that you can find. This will give you an idea of what’s attractive to you and what’s not.

Determining Their Positioning

What makes their business unique and how would you differentiate yourself from them? Knowing how your competitors position themselves will help you determine what makes you unique in the same industry.

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Conducting a SWOT Analysis

Doing a bit of research will show their strengths, weaknesses, opportunities, and threats. A SWOT analysis is a simple way to determine what works for them and what could work for your business as well. By examining these, you could potentially grow your business, especially if your competitor is doing fairly well.

At the end of the day, it’s all about where your competitors excel. Consider the 4Ps of marketing as well. Look into their pricing, place, product, and promotion. You can make use of all the info you gather and put them together to create a well-rounded marketing campaign.

Monsoon Marketing Helps You Put Them Together

Monsoon’s approach to marketing is all about applying the best practices in the modern-day marketing environment. Whether it be content marketing, social media management, and even web design, we’re all about distributing your brand to a vast audience. The use of tools for search engines and social media is also our assurance that we provide value for your target audience.

Get Content Help from Monsoon Marketing

Our content marketing solutions at Monsoon Marketing will help you storm up some leads and create a loyal customer base by creating value for them. We provide content for blogs, graphics, social media, and more. We develop the content you need to drive more traffic to your website and secure more conversions. 

Be as involved as you want in the process of developing the ideal content for your website. Let Monsoon Marketing help. For a consultation, contact us today. We fill the gaps that exist in your marketing strategy.

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