We tend to eye our competition through Dirty Harry eyes. However, no one understands the landscape and complexities of your industry quite like your rivals do. While you are always going to vie with them for business, benchmarking your digital marketing campaigns against theirs will help you to develop your medium to long-term strategy.
While we highly recommend benchmarking, i.e. to evaluate your digital marketing by comparing it to a standard – we most certainly do not mean for you to plagiarize or pirate.
Whether you like it or not, your competition and you will face off against each other when consumers do pre-purchase research online. All they have to go on to make their decision is what you reveal to them through your online presence – from social media marketing to your website design to your content. By seeing the comparison through your customers’ eyes, you gain awareness on how you can improve
By thoroughly examining the digital marketing efforts of your rivals, you will be pushed to try new techniques associated with content, design, and brand communications.
With 80% of online content being user-generated, the public is now contributing to the collaboration of your marketing method. Take note of conversations in which your competitors’ clients are engaging to gain insights which you may not gather from your own relations. FAQ’s are an especially prized source of information about concerns your prospects and clients may have.
When all is said and done, your most ferocious competitors can be your allies when it comes to holding you to a superior standard and pushing your limits. On top of which, when the competitiveness is mutual, your whole industry benefits.