{"id":3768,"date":"2019-08-14T12:18:30","date_gmt":"2019-08-14T12:18:30","guid":{"rendered":"https:\/\/digitalschoolofmarketing.co.za\/?p=3768"},"modified":"2022-09-05T19:24:03","modified_gmt":"2022-09-05T17:24:03","slug":"how-to-do-a-competitor-analysis-in-digital-marketing","status":"publish","type":"post","link":"https:\/\/digitalschoolofmarketing.co.za\/blog\/how-to-do-a-competitor-analysis-in-digital-marketing\/","title":{"rendered":"How to do a competitor analysis in digital marketing"},"content":{"rendered":"<section class=\"l-section wpb_row height_medium\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_grid cols_3-1 laptops-cols_inherit tablets-cols_inherit mobiles-cols_1 valign_top type_default stacking_default\"><div class=\"wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"w-image align_center\"><div class=\"w-image-h\"><img decoding=\"async\" width=\"680\" height=\"479\" src=\"https:\/\/digitalschoolofmarketing.co.za\/wp-content\/uploads\/2019\/08\/DSM_Infographics_SocialMedia72-e1565784921776.jpg\" class=\"attachment-full size-full\" alt=\"DSM Digital School of Marketing- Competitor Analysis\" loading=\"lazy\" srcset=\"https:\/\/digitalschoolofmarketing.co.za\/wp-content\/uploads\/2019\/08\/DSM_Infographics_SocialMedia72-e1565784921776.jpg 680w, https:\/\/digitalschoolofmarketing.co.za\/wp-content\/uploads\/2019\/08\/DSM_Infographics_SocialMedia72-e1565784921776-600x423.jpg 600w, https:\/\/digitalschoolofmarketing.co.za\/wp-content\/uploads\/2019\/08\/DSM_Infographics_SocialMedia72-e1565784921776-300x211.jpg 300w, https:\/\/digitalschoolofmarketing.co.za\/wp-content\/uploads\/2019\/08\/DSM_Infographics_SocialMedia72-e1565784921776-284x200.jpg 284w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/div><\/div><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>Competition in business is an amazing thing. Competitors push you to achieve more. Also, they show us what we are capable of achieving. But it\u2019s always a good idea to keep an eye on your competition and do frequent competitor analyses. This is especially true in the <a href=\"https:\/\/digitalschoolofmarketing.co.za\/blog\/what-are-the-components-of-a-digital-marketing-plan\/\">digital marketing<\/a> world where things change so quickly!<\/p>\n<h2>Competitor Analysis<\/h2>\n<h2><strong>Doing a competitor analysis helps you:<\/strong><\/h2>\n<ul>\n<li>To compare topics, tactics, and channels that drive market performance for you and your competition<\/li>\n<li>Find opportunities to differentiate your brand and beat your competition<\/li>\n<li>Gather digital consumer insights to make informed decisions about your <a href=\"https:\/\/digitalschoolofmarketing.co.za\/blog\/why-digital-marketing-strategy-needs-to-be-flexible\/\">digital marketing strategy<\/a><\/li>\n<li>Establish where you are in comparison to your competition, industry leaders, and market influencers.<\/li>\n<\/ul>\n<p>Kenichi Ohmae said, \u201cWithout competitors, there would be no need for strategy,\u201d So, to give you a head start on your competitors, here\u2019s how to do a competitor analysis in digital marketing:<\/p>\n<h3>Choose the right key performance indicators (KPIs)<\/h3>\n<p>Analysing how your competitors\u2019 audience is growing, how many times they are posting, and how their followers engage will give you incredible insights to build your digital marketing strategy.<\/p>\n<h4><em>Five simple steps to get started with a KPI framework<\/em><\/h4>\n<p>In order to get started with a KPI framework, ask the following five questions:<\/p>\n<ol>\n<li>What is your business goal?<\/li>\n<li>Do you have the relevant data and capacity to put together the framework?<\/li>\n<li>How can you improve your performance metrics?<\/li>\n<li>Who is going to be making use of your framework? Is it internal, or external?<\/li>\n<li>How are they displayed?<\/li>\n<\/ol>\n<p>Your KPI framework will never be the same as the next person\u2019s. This is because it is personal to your brand goals and your strategy requirements. Keep the next points in mind when creating this framework:<\/p>\n<ul>\n<li>Are they measurable?<\/li>\n<li>Do they drive towards the benefits you are trying to deliver for the consumer?<\/li>\n<li>Do they align with your brand\u2019s objectives?<\/li>\n<li>Are they realistic?<\/li>\n<li>Can you regularly measure and report on them?<\/li>\n<\/ul>\n<\/div><\/div><div class=\"w-video align_none ratio_16x9 has_iframe\"><div class=\"w-video-h\"><iframe title=\"Vimeo video player\" src=\"https:\/\/player.vimeo.com\/video\/283017232?autoplay=0&loop=0&autopause=0&color=00adef&portrait=0&byline=1&title=1&controls=1&muted=0\" frameborder=\"0\" allow=\"autoplay; fullscreen\" allowfullscreen loading=\"lazy\"><\/iframe><\/div><div class=\"w-video-icon\" style=\"font-size:1.5rem;background:rgba(0,0,0,0.5);color:#fff\"><\/div><\/div><div class=\"w-separator size_medium\"><\/div><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>It is important that you do not mistake certain measures \u2013 such as a positive review \u2013 for KPIs \u00a0because these are not measurable or quantitative. Set up an evaluation framework that you can review at the end of each month. Your measures will adjust as you work out what is valuable to your brand and what is not.<\/p>\n<p>Once you have set up KPIs that are valuable, measurable and realistic for you and your brand, explain the relevance of these measures. KPIs can easily become null and void if teams outside of your brand, or even inside your brand, do not understand the importance of measuring and tracking performance.<\/p>\n<h3>Find the right marketing channels<\/h3>\n<p>Are your competitors using emails, <a href=\"https:\/\/digitalschoolofmarketing.co.za\/blog\/how-do-i-write-a-good-heading-for-my-blog-posts\/\">blogs<\/a>, social media, their websites or search engines to reach and engage with their target audience? Why is this important to know? Well, if they are on these channels and you are not, you are missing out on talking to your target audience.<\/p>\n<h3>Identify your competitors\u2019 position in the market<\/h3>\n<p>Have a look at your competitors\u2019 positioning strategy, and soon you\u2019ll have a much-improved concept of what your target market is looking for. Ask questions such as, \u201cAre their customers buying from them because of the price or experience?\u201d or \u201cWhat makes them unique?\u201d<\/p>\n<h3>Review their social media<\/h3>\n<p>One of the best places to analyse your competitors is their social media. Social media pages show what works well and what doesn\u2019t in terms of engagement. It also gives you access to their customers\u2019 minds with reviews and comments.<\/p>\n<p>Don\u2019t get left in your competitors\u2019 dust! Start doing competitor analyses and see how your business will benefit from it. Have you done a competitor analysis? What are some of the benefits you have experienced?<\/p>\n<h2><a href=\"https:\/\/digitalschoolofmarketing.co.za\/contact-us\/\">Get in touch with the Digital School of Marketing<\/a><\/h2>\n<p>Become a professional in digital marketing with the Digital School of Marketing\u2019s (DSM\u2019s) <a href=\"https:\/\/digitalschoolofmarketing.co.za\/courses\/digital-marketing-course\/\">Digital Marketing Course<\/a>. After completing this qualification, you will be an SEO expert, social media marketing specialist and digital marketer aficionado. If you are prepared to learn digital marketing and boost yourself in the fastest-growing occupation that we have yet to see, then this course is just for you!<\/p>\n<p><a href=\"https:\/\/digitalschoolofmarketing.co.za\/courses\/digital-marketing-course\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-759 size-shop_single\" src=\"https:\/\/digitalschoolofmarketing.co.za\/wp-content\/uploads\/2018\/08\/DSM_Footer04-600x96.jpg\" alt=\"DSM Digital School of Marketing Digital Marketing course registration\" width=\"600\" height=\"96\" \/><\/a><\/p>\n<\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"w-btn-wrapper align_justify\"><a class=\"w-btn us-btn-style_2\" href=\"#enquiry\"><span class=\"w-btn-label\">Enquire Today<\/span><\/a><\/div><div class=\"w-separator size_medium\"><\/div><h3 class=\"w-text us_custom_6caa4608 has_text_color\"><span class=\"w-text-h\"><span class=\"w-text-value\">Blog Categories<\/span><\/span><\/h3><div class=\"wpb_text_column us_custom_5cd26a65\"><div class=\"wpb_wrapper\"><ul>\n<li class=\"cat-item cat-item-1\"><a href=\"\/blog\/content-marketing\/\">Content Marketing<\/a><\/li>\n<li class=\"cat-item cat-item-2\"><a href=\"\/blog\/digital-marketing\/\">Digital Marketing<\/a><\/li>\n<li class=\"cat-item cat-item-2\"><a href=\"\/blog\/cyber-security-blog\/\">Cyber Security<\/a><\/li>\n<li class=\"cat-item cat-item-2\"><a href=\"\/blog\/graphic-design-blog\/\">Graphic Design<\/a><\/li>\n<li class=\"cat-item cat-item-3\"><a href=\"\/blog\/public-relations\/\">Public Relations<\/a><\/li>\n<li class=\"cat-item cat-item-4\"><a href=\"\/blog\/seo\/\">SEO<\/a><\/li>\n<li class=\"cat-item cat-item-5\"><a href=\"\/blog\/social-media-marketing\/\">Social Media Marketing<\/a><\/li>\n<li class=\"cat-item cat-item-5\"><a href=\"\/blog\/web-design-blog\/\">Web Design<\/a><\/li>\n<\/ul>\n<\/div><\/div><div class=\"w-separator size_medium\"><\/div><h3 class=\"w-text us_custom_6caa4608 has_text_color\"><span class=\"w-text-h\"><span class=\"w-text-value\">You might also like<\/span><\/span><\/h3><div class=\"w-html\"><ul><li><a href=\"https:\/\/digitalschoolofmarketing.co.za\/social-media-marketing-blog\/zero-moment-of-truth-benefit-social-media-marketing\/\" rel=\"bookmark\">Use the Zero Moment of Truth to Benefit your Social Media Marketing<\/a><\/li><li><a href=\"https:\/\/digitalschoolofmarketing.co.za\/digital-marketing-blog\/your-complete-guide-to-ppc-marketing-basic\/\" rel=\"bookmark\">Your Complete Guide to PPC Marketing Basics. Find out more.<\/a><\/li><li><a href=\"https:\/\/digitalschoolofmarketing.co.za\/blog\/you-can-convey-a-lot-of-meaning-with-just-one-graphic\/\" rel=\"bookmark\">You Can Convey a Lot Of Meaning With Just One Graphic<\/a><\/li><li><a href=\"https:\/\/digitalschoolofmarketing.co.za\/digital-marketing-blog\/would-you-make-a-great-marketing-manager\/\" rel=\"bookmark\">Would you make a great marketing manager?<\/a><\/li><li><a href=\"https:\/\/digitalschoolofmarketing.co.za\/in-the-press\/win-with-bona-magazine-and-the-digital-school-of-marketing\/\" rel=\"bookmark\">Win with Bona Magazine and the Digital School of Marketing<\/a><\/li><li><a href=\"https:\/\/digitalschoolofmarketing.co.za\/in-the-press\/win-a-digital-marketing-course-valued-at-r12-000\/\" rel=\"bookmark\">Win a Digital Marketing Course Valued at  R12 000<\/a><\/li><\/ul><\/div><div class=\"w-separator size_medium\"><\/div><h3 class=\"w-text us_custom_6caa4608 has_text_color\"><span class=\"w-text-h\"><span class=\"w-text-value\">Top Selling COurses<\/span><\/span><\/h3><div class=\"wpb_text_column us_custom_5cd26a65\"><div class=\"wpb_wrapper\"><ul>\n<li class=\"cat-item cat-item-1\"><a href=\"\/courses\/digital-marketing-course\/\">Intermediate Digital Marketing<\/a><\/li>\n<li class=\"cat-item cat-item-2\"><a href=\"\/courses\/advanced-digital-marketing-course\/\">Advanced Digital Marketing<\/a><\/li>\n<li class=\"cat-item cat-item-3\"><a href=\"\/courses\/social-media-marketing-course\/\">Intermediate Social media marketing<\/a><\/li>\n<li class=\"cat-item cat-item-4\"><a href=\"\/courses\/digital-brand-management-course\/\">Brand Management<\/a><\/li>\n<li class=\"cat-item cat-item-5\"><a href=\"\/courses\/graphic-design-course\/\">Basic Graphic Design<\/a><\/li>\n<li class=\"cat-item cat-item-6\"><a href=\"\/courses\/advanced-graphic-design-course\/\">Advanced Graphic design<\/a><\/li>\n<li class=\"cat-item cat-item-7\"><a href=\"\/courses\/national-certificate-of-advertising\/\">National Certificate of Advertising<\/a><\/li>\n<li class=\"cat-item cat-item-8\"><a href=\"\/courses\/national-diploma-of-copywriting-course\/\">National Diploma of Copyrighting<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n<\/div><\/div><\/div><\/div><\/section><section class=\"l-section wpb_row height_medium\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_grid cols_1 laptops-cols_inherit tablets-cols_inherit mobiles-cols_1 valign_top type_default stacking_default\"><div class=\"wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"w-video align_none ratio_16x9 has_iframe\"><div class=\"w-video-h\"><iframe title=\"Youtube video player\" src=\"\/\/www.youtube.com\/embed\/JoEwCXKahVc?autoplay=0&controls=1&origin=https:\/\/digitalschoolofmarketing.co.za&loop=0&mute=0\" allowfullscreen=\"1\" loading=\"lazy\"><\/iframe><\/div><div class=\"w-video-icon\" style=\"font-size:1.5rem;background:rgba(0,0,0,0.5);color:#fff\"><\/div><\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":3769,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,262],"tags":[452],"class_list":["post-3768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-digital-marketing-blog","tag-analysis-of-competitors"],"acf":[],"_links":{"self":[{"href":"https:\/\/digitalschoolofmarketing.co.za\/wp-json\/wp\/v2\/posts\/3768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalschoolofmarketing.co.za\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalschoolofmarketing.co.za\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalschoolofmarketing.co.za\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalschoolofmarketing.co.za\/wp-json\/wp\/v2\/comments?post=3768"}],"version-history":[{"count":0,"href":"https:\/\/digitalschoolofmarketing.co.za\/wp-json\/wp\/v2\/posts\/3768\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalschoolofmarketing.co.za\/wp-json\/wp\/v2\/media\/3769"}],"wp:attachment":[{"href":"https:\/\/digitalschoolofmarketing.co.za\/wp-json\/wp\/v2\/media?parent=3768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalschoolofmarketing.co.za\/wp-json\/wp\/v2\/categories?post=3768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalschoolofmarketing.co.za\/wp-json\/wp\/v2\/tags?post=3768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}