How To Do Marketing Competitor Analysis (& What To AVOID)

About this Video

• Video Title: How To Do Marketing Competitor Analysis (& What To AVOID)
• Channel: Elevate Digital
• Speakers: Tom
• Duration: 00:10:36

Introduction

This video explains how to perform effective competitor analysis without harming your own marketing results. The speaker emphasizes avoiding common pitfalls like solely focusing on superficial metrics (followers, likes) and instead prioritizing understanding audience attention and creating a unique value proposition.

Key Takeaways

• Avoid superficial competitor analysis: Don't base your strategy solely on easily observable metrics like follower count or ad impressions, as these don't reveal the actual effectiveness of their marketing.
• Conduct an "audience attention audit": Analyze what marketing messages your target audience is constantly exposed to, and develop a strategy to cut through the noise and grab their attention.
• Analyze competitor advertising: Use ad libraries (Meta, Google, LinkedIn, TikTok) to understand the types of ads competitors are running and identify patterns or trends. Aim to create a contrasting message that interrupts these patterns.
• Analyze competitor websites: Objectively compare your website and your competitors', identifying areas where you can differentiate yourself and build confidence with potential customers. Consider elements like call-to-action design and pricing transparency.
• Utilize content gap analysis: Employ tools like SEMrush to identify keyword gaps your competitors are missing, focusing on what your audience truly needs, rather than solely relying on keyword research tools.