USE YOUR COMPETITORS TO SUPERCHARGE YOUR SEARCH

Understand how to use both competitor insights, as well as behavioural and audience insight data to show you how to move your strategy planning to a human centric approach. It should convince you that you should not just be thinking about your brand in isolation, but instead, be examining what your competitors are doing. Mapping how their strategy and tactics can impact your own marketing efforts, as well as considering the ever changing behaviours and attitudes of consumers. Considering how customer expectations and demands of brands change, and what impact this has on your own strategic direction.

Transcript

1. USE YOUR COMPETITORS TO SUPERCHARGE YOUR SEARCH. Lottie Namakando Reflect Digital @lottienamakando https://www.reflectdigital.co.uk/supercharge
3. “IT’S NOT ABOUT YOU. IT’S ABOUT THEM.” Clint Eastwood
4. HOW MANY NEW BRANDS HAVE YOU SEEN OR TRIED THIS YEAR?
5. YOU ARE NOT ALONE.
6. SWITCHED BRANDS AT LEAST ONCE IN A YEAR. 71% Source eMarketer
7. SWITCHED BRANDS FOR A HIGHER QUALITY ALTERNATIVE. 70% Source Forbes
8. SWITCHED BRANDS BECAUSE OF BETTER DEALS. 66% Source Statista
9. SWITCHED BRANDS TO BETTER FIT PERSONAL CIRCUMSTANCES. 16%
10. BRANDS IN A CONSIDERATION SET. 5 Source eMarketer
11. YOUR COMPETITION IS HIGH.
12. HUMANS ARE BOTH FICKLE.
13. AND BIASED.
14. DECISION MAKING IS INFLUENCED BY MANY FACTORS.
15. Think with Google
16. COM-B MODEL FOR BEHAVIOURAL CHANGE. “Do I have the ability to perform the behaviour? Are we clear we can answer their needs? “Do I have the time/opportunity to do the behaviour?” Do we provide enough guidance on how to complete the action? “Do I want to do this behaviour?” Do they believe that we can provide the solution to their need?
17. FACTORS INFLUENCING DECISION.
18. WHAT FACTORS ARE CURRENTLY INFLUENCING YOUR CONSUMER DECISIONS?
19. CAN YOUR SEARCH PERFORMANCE BE JUDGED BY YOUR TACTICS ALONE…
20. NO!
22. YOU NEED TO KEEP A FINGER ON THE PULSE OF CUSTOMER NEEDS.
23. AND THE COMPETITION’S STRATEGY AND TACTICS.
24. LET’S LOOK AT SOME EXAMPLES…
25. MANY BRAND SETS ULTIMATELY DO THE SAME THING.
26. EXPERIENTIAL GIFTING BRANDS.
30. CREDIBILITY AVAILABILITY VALIDITY
31. CREDIBILITY AVAILABILITY VALIDITY AVAILABILITY EMOTION
32. CREDIBILITY AVAILABILITY VALIDITY RANGE DISCOUNT AVAILABILITY EMOTION
33. THEY SPEAK TO DIFFERENT NEEDS.
34. BUT WHICH ONE IS THE MOST IMPORTANT?
35. THINK ABOUT WHAT IMPACT YOUR MESSAGE HAS.
36. SUDDENLY THE OFFERING IS DIFFERENT.
37. THEY HAVE USED NUDGES TO ENCOURAGE BEHAVIOURS.
38. NUDGE; A SMALL TWEAK TO THE ENVIRONMENT THAT CAN HAVE A POSITIVE (AND BIG) IMPACT ON BEHAVIOUR, WITHOUT LIMITING CHOICE.
39. CONSIDER THE MENTAL SHORT CUTS OR BIASES WHICH INFLUENCE US.
40. YOU KNOW THE THEORY.
41. SO WHAT DO YOU DO NOW….
42. YOU OBSERVE.
43. COMPETITION CUSTOMERS WHAT DID THEY DO IN THE PAST? WHAT ARE THEY DOING NOW? WHAT MIGHT THEY DO IN THE FUTURE?
44. COMPETITION CUSTOMERS • Auctions Insights • Competitor Audits • Competitor Ad Reviews • Competitor Ad Monitoring • Competitor USP’s Monitoring • Rankings Monitoring • Keyword Coverage • Brand Search Strategy • Search Trends • Social Listening • Customer Surveys • Website Engagement Audit • Messaging Tests • Focus Groups • Brand Sentiment • Customer Journey Maps
45. UNDERSTAND WHAT DATA SOURCES YOU NEED.
46. IDENTIFY WHO YOUR SEARCH COMPETITION IS.
47. DECIDE ON YOUR FREQUENCY OF DATA ACQUISITION.
48. DOCUMENT CONTENT OF COMPETITOR ADS & LISTINGS OVER TIME.
49. REVIEW CUSTOMER NEEDS QUARTERLY.
50. BUILDING A BANK OF INSIGHTS AND KNOWLEDGE.
51. THEN YOU PLAN.
52. CONSIDER WHAT FACTORS COULD INFLUENCE DECISION. TYPE OF DISCOUNT PROMOTION DURATION DISCOUNT AMOUNT OFFER RESTRICTIONS OFFER AVAILABILITY ADDITIONAL BENEFITS
53. STRUCTURE YOUR CALENDAR WITH YOUR OWN KPIS IN MIND.
54. YOU OVERLAY WHAT YOU KNOW FROM YOUR COMPETITOR RESEARCH.
55. PRODUCE A PREDICTED COMPETITOR MARKETING CALENDAR.
56. PRODUCE A PREDICTED COMPETITOR MARKETING CALENDAR.
57. THEN YOU TEST.
58. BUT REMEMBER, THE VARIABLES ARE NOT JUST YOUR OWN.
59. YOUR TESTS ARE TWO SIDED. YOUR OWN COPY AGAINST ITSELF. YOUR COPY AGAINST YOUR COMPETITION.
60. FINALLY YOU EVALUATE.
61. PLOT YOUR RESEARCH OVER YOUR OWN PERFORMANCE DATA. OWN BRAND PROMOTION COMP BRAND PROMOTION
62. EXPLORE THE IMPACT YOUR MESSAGE HAD ON ENGAGEMENT.
63. DECIDE HOW YOUR STRATEGY ADAPTS.
64. ALLOWING YOU TO BE STRATEGIC AND RESPONSIVE.
65. ENSURING YOU BRAND CAN RESPOND TO THE MARKET CHANGES.
66. INSTIGATED BY YOUR COMPETITION.
67. OR BY YOUR CUSTOMER’S NEEDS.
68. SO TO RECAP.
69. THINK ABOUT THE WORLD AROUND YOUR BRAND.
70. YOU CAN START AS BIG OR SMALL AS YOU WANT.
71. BIG RISK ASSOCIATED WITH IGNORING YOUR ENVIRONMENT.
73. “IT’S NOT ABOUT YOU. IT’S ABOUT THEM.” Clint Eastwood
74. THANK YOU. Download the slides: Find me on LinkedIn: