How to conduct a competitor analysis

How to conduct a competitor analysis

Without knowing how your competitors are performing, it’s easy to operate in your own bubble. You’ve built up a loyal base of repeat customers, your products and services are well received and your order book remains full. But if market conditions suddenly change or if a new competitor enters the market, do you have the data and intelligence you need to adapt your products or services, channels or target markets?

Conducting a competitor analysis, and regularly maintaining it, is a vital activity in making sure your business remains relevant.

We often think of ‘the competition’ purely in terms of other businesses or organisations that are selling the same products or services as us. In reality, there are three types of competition:

  1. Primary: those direct competitors who are offering the same or similar products or services to the same customer audience.
  2. Secondary: those offering similar products or services to a different audience.
  3. Tertiary: those serving the same audience but not with the same products. Even if your products are very different, you may still be competing for the same budget.

There’s also a fourth type of competition that is often ignored: that of the customer choosing to ‘do nothing’. In other words, not choosing you or any of your competitors but simply carrying on as normal.

Competitor analysis not only helps you future proof your business, it also helps with the here and now.

Taking the time to research the alternatives a customer may have other than choosing your business, means you are better prepared to deal with any objections in their decision making.

A Simple Guide to Competitor Analysis from Yellow Bird Marketing and Communications is designed to help you:

  • identify your competition in all its forms;
  • apply both tools and gut feel to compare and contrast your offer with that of your competitors;
  • determine which assessment criteria to use in your analysis; and
  • continually monitor market activity to always remain one step ahead.

To download the guide, simply click the image below or download it from Google Drive.Screenshots of the Free Guide To Competitor Analysis

 

Why use the services of a copywriter?

Why use the services of a copywriter?

A copywriter writes copy that influences readers in some way. It could be copy that entices them to find out more about you or to buy your product; that educates them about a particular subject; or that entertains them. Whatever the desired outcome, there’s a common theme: that of making something memorable and building trust with your audience.

A good copywriter will help you identify what to write about (and what not). In a manner and tone that’s true to your business. They will take into account your wider business strategy and ambitions. They will relish the challenge of writing for channels as wide ranging as websites, magazine articles, blogs, newsletters, brochures, case studies, press releases, speeches and whitepapers.

Isn’t it easier to write my own copy?

Writing your own copy is often seen as the most appropriate way to engage with your audience. However, it can soon become a painful, never-quite-finished task. There’s a number of reasons why.

Firstly, time. Even for those who really enjoy writing, it’s an activity that often gets pushed to the back burner.

Secondly, perspective. When you’re so passionate about your business, it can be incredibly difficult to write about it both objectively and with your customer, not your business, in mind.

Thirdly, knowledge. When you are expert in a subject, there’s a tendency to live in the detail which can easily overwhelm or confuse your audience.

With an aptitude for assuming the client’s perspective, an external copywriter can work at pace to capture your expertise in compelling headlines and clear copy.

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How to get your stories in the press

How to get your stories in the press

Every business has a story to tell. All too often, however, it’s hard to carve out time to promote it.

Applying a structured approach to getting published can make the process so much easier. This presentation shows you how in six easy steps:

  1. Identify your stories
  2. Understand your target audience
  3. Research publications with an interest in your stories
  4. Build your media contacts list
  5. Structure your press release
  6. Amplify your coverage

Firstly, what makes for a good story? (more…)

The power of writing it down

The power of writing it down

Normally we think of content as a planned process of communication; with a key message, call to action and Google ranking in mind.

But writing content for ourselves can help in so many ways. Never more so than in the unsettling times we now face.

What does putting pen to paper do? Unlike typing, the physical art of writing is so much more creative and mindful, and without the distractions of social notifications and inboxes.

Setting goals

We’re told that the current lockdown presents the perfect opportunity to pause for breath and turn our attention to those business areas long neglected such as:

  • getting our websites in order;
  • being more active on social;
  • extending our LinkedIn network;
  • getting to grips with the latest technology; and
  • taking a hard look at what’s working and what isn’t in our businesses.

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5 easy steps to get writing

5 easy steps to get writing

Adding regular and engaging content to your website is not only good SEO practice, it also helps reinforces your brand and shows your clients you’re engaged in subjects they care about.

I love writing copy. I get paid for what I love and have the opportunity to work on a completely different subject every day. When I’m writing for my clients, ideas on what to write about next come easily. When it comes to writing content for my own business, however, it’s often a job that’s forever on the longlist…

Do you too struggle to come up with content ideas? Or maybe the ideas are there but you never find the time to make a start? Here’s five pointers to help you create great written content for your business:

1.What are you going to write about?

Before you start to write, think about what you know about. Where do you and your company add value and how might you reinforce that through useful content (and definitely not as a sales pitch)?

What advice or thought leadership might you offer to customers to improve their understanding of a particular topic? How might that understanding then save them time, money, help them implement new processes or efficiencies, offer better customer service or win new business? What questions might they be seeking answers to?

A good starting point for coming up with your list of topics is answerthepublic.com which identifies search terms related to your topic posed via Google or Bing. A search on ‘photographer’, as an example, (more…)

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