How a Digital Competitive Analysis Benefits Your Business | HenkinSchultz

How a Digital Competitive Analysis Benefits Your Business

By March 4, 2019Digital
free competitive analysis

Odds are, your business has competitors (well, duh!). It doesn’t matter what industry you are in, competition can be fierce when you are fighting for the attention of your consumers while they are browsing the Internet. You are fighting for premier digital ad space, top paid search rank, and social media news feed visibility. What makes it tougher is that consumers are considering your competitors while doing research to make more insightful decisions.

Consumers are Doing More Research

Consider these facts from AdWeek, Forrester, and Accenture on how consumers are doing research today:

  • 81% of B2C shoppers conduct online research before they make a purchase.
  • 94% of B2B buyers conduct online research in the buying process.
  • 60% begin by using a search engine to find the products they want.
  • On average, consumers visit at least 3 online stores before making their purchase.
  • Even if you as the seller are trying to drive in-store purchases, 74% of business buyers conduct more than half of their research online before making an online purchase.

Having consumers aware of your brand on the front end of their research is important.

This is where a competitive analysis can help you fill in the gaps. It will show how your competitors are outperforming you and what you can do to improve your digital presence. Our main goal is to impress your target audience while they are doing their initial research so you get the sale over your competition.

A digital competitive analysis allows you to compare the content, tactics, and channels driving market performance for you and your competitors. It gives you a deeper understanding of how your competitors promote themselves so you can use that to your own advantage.

Here are a few reasons how a digital competitive analysis from HenkinSchultz benefits your online marketing strategy:

1. We Help Identify Your Direct Online Competitors:

Your competition is not just a business right down the street from your physical location. Chances are that there are national brands you are competing with as well. HenkinSchultz helps your business pinpoint your direct online competitors, both locally and nationally.

2. We Determine the Strengths & Weaknesses of Your Online Competition:

By doing deeper research into the specific channels your competitors are using, we will be able to see where they are excelling and where they are not.

  • Are they active on social media?
  • How engaged are their social media audiences?
  • How much are they spending on PPC ads?
  • What keywords are they bidding on?
  • What organic phrases are they showing up for?

These are the type of questions we can help answer to determine how strong their presence truly is.

3. We Reveal Opportunities to Outperform Your Competitors:

HenkinSchultz helps determine some low hanging fruit that your business can take advantage of right away. We also provide long-term action items your business can do. This allows you to leverage yourself against your competition in your overall digital marketing strategy.

Our Method of Analysis

HenkinSchultz will show you key insights into how you compare to your competitors’ online presence by:

  • Identifying social media trends, engaging web content, and opportunities.
  • Determining benchmarks for your digital marketing strategies.
  • Analyzing high and low performing keywords your competition is using.
  • And more!

Looking to understand more about what your competitors are doing or ways you can improve your business’s online presence? Contact us. Our digital team will conduct a free keyword gap analysis.

What is a keyword gap analysis? Basically, we look at what keywords are already working for you, and what your competition is doing. Using this data and your rankings, we can pinpoint areas for growth and help you achieve greater success online.

Fill out the form below to get your free analysis!