How to Do Competitive Research
By Matt Steffen | Daily Marketing Advice
Because there is nothing new under the sun, there is a good chance at least some of your competitors have a very strong and effective email marketing program.
So -- learn it!
Feel free to sit at the front of the class and learn exactly what your competition is doing to increase sales and customer loyalty.
Follow these simple steps to quickly learn about your competitors' email marketing programs, and whether you should be emulating their efforts:
- Create an Avatar email account. Ensure it appears to have nothing to do with your business.
- Begin signing up for every one of your competitors' eBooks, newsletters, contests and anything related to their email marketing program.
- Analyze the following:
- What is the frequency of their emails, and why?
- What are their offerings?
- What are the benefits of their offerings that they are promoting?
- What is their overall email marketing strategy as you see it?
- How good are their signup forms? Are their headlines and subtext more compelling than yours?
What you're really looking for is whether or not they have something that appears better than you, such as an innovative offering, a more specific and compelling benefit, or copy that seems to drive more responses.
Next, identify which, if any, elements you can begin testing against your own.
Create several campaigns that measure your approach versus their be mimicking their efforts within your own email marketing strategy:
- Do you suspect they are sending email at a better time than you?
- Does their copy seem more persuasive?
- Do they seem to have a stronger offering than you that you can develop and begin selling yourself?
The bottom line is you have clothes and your competitors have clothes.
Simply model your outfit and your competitors' outfit in front of your email marketing list, and see which ones resonate the best.
It's not rocket science!
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