What Will a CompThreat Tell Us About Our Competitors?
Identify Advantages and Shortfalls, Articulate Solutions
Maybe you've done some form of competitive analysis before or maybe this is a completely new mindset for you. Either way, you're probably wondering what insights a CompThreat can actually give you about your competitors.
We're glad you asked. In short, it tells us where your competitors aren't succeeding, and where they may be trying tactics you haven’t. Here are a few concrete examples from past CompThreats that we've done:
- A laboratory supply company learned that each of their main competitors was running paid search campaigns, aggressively staking claim to a bigger share of the market while our client was left with a shrinking piece of the pie.
- A regional nonprofit learned that their site was beating out the competition when it came to search engine rankings in some niche categories...but falling behind in their main target areas. Their situation required a new direction for their content as well a bigger commitment to paid search to bridge the gap.
- A sign manufacturing company learned that one of their main "competitors" really wasn't a competitor at all when it came to the online marketplace. And due to the narrow focus of their business, we concluded that any paid search efforts needed to be targeted very precisely to reach their target demographic.
- Lastly, a local web design agency learned that their main competition really didn't have as mighty of a web presence as they presumed. A handful of SEO updates was all they needed to level the playing field. And our further recommendations gave them the ability to stake new ground in their market.
We'll stop ourselves there, but the truth is we love finding these kinds of opportunities for our clients to grow their businesses. It's exciting (for us and them) to empower these companies to act with confidence as they plan their digital marketing strategy for the coming months and years.