Digital marketing can be a competitive space....some might even say aggressive. If you want to help yourself stand out, it's a great idea to stay on top of the latest trends and movements within your industry while keeping an eye on everyone else if you want to identify key ways to beat out your competitors.
Understanding your competitive landscape is an essential part of any business that allows you to have a clear look at your competitors and what they are currently doing to drive more traffic to their business.
Don't know who your key competitors are? That's step number one. Identify them! This can be done with a simple google search! Start by googling three or four groups of keywords you would like to be found for.
For example: If you are a beauty brand that works exclusively with organic products, think of the key phrases that you might think of to seek out that type of product. Natural beauty products, Organic beauty products, all natural, etc.
From there, you will further be able to understand and identify the strengths and weaknesses of others in the industry, and further compare your business in relation to others. This also allows you to see certain gaps, and uncovers new opportunities to help differentiate your brand.
When you are looking at the competitive landscape, always make sure that you are choosing the right metrics to look at, along with the right competitors, and from there- start your strategic planning so that you can compete effectively!