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This talk was create for Compete PRO's NYC Digital Marketing Meet-Up in June 2013, and discussed how changes in the relationship between agencies & clients, companies & consumers, and an increasingly complex market landscape; increases the importance of competitive insights.
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Competitive Advantage,in the changing digital landscape.
Presented by Lindsey Mark
Client Relations Manager, compete PRO
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“Advertizing people that ignore research are as dangerous as generals who ignore decodes of enemy signals.” David Ogilvy
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How many of you here today participate in some form of Competitive Research?
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An hour or less?
A few hours?
A day or more?
Daily?
How long do you spend doing competitive research a month?
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How many share the details of your research with clients or internal stakeholders?
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The ability to seize opportunity begins with awareness
CC attribution: ZeroOne
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It’s no news that the industry landscape is changing rapidly.
CC attribution: David B. Gleason
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THREE IMPORTANT SHIFTSIn our industry, consumer marketing relationships , and the market itself.
Simple Complex
Agency Client
Advertiser Consumer
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Agency of Record Contracts used to be an industry standard
CC attribution: Seattle Municipal Archives
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Project work is now increasingly popular
CC attribution: hyku
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Competitive Awareness & strategic recommendationsBuild Trust & Solve Problems
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Marketing used to be broadcast by advertisers
CC attribution: Roadside Guitars
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Consumers are now an empowered part of the conversation
CC attribution: Matt Preston
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Cultivate Awareness of consumer behaviors
Conduct research on the 5 W’s
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Weather & Coffee, a strong connection?!
weather.com starbucksstore.com
How behavioral data shines.
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The industry landscape used to be simpler
CC attribution: Seattle Municipal Archives
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Markets are now increasingly complex
CC attribution: Paul Wilkinson
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Awareness of the industry landscape can help!Keeping an eye out for potential
threats and opportunities
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competitive information becomes instrumental to our success
If we consider these challenges as opportunities…
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Competitive Intelligence Research Processes
1. Identify top competitors by looking at positive performance trends month over month and year over year.
2. Investigate which traffic acquisition strategies drive their success (email, social, search, affiliate, and partnerships) .
3. Evaluate your client’s place in the market
4. Hypothesize which strategies would work best given their competition, their budget, and current campaigns.
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• Prove ROI on current investments
• Educate clients about consumer behaviors
• Persuade clients to peruse new projects
• Give you the visibility to recommend validated approaches that work for competitors and other industries.
a strong competitive insight practice will…Beyond using competitive research to monitor,
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A strong competitive research practice creates awareness and in turn, the ability to act quickly when presented with opportunities.
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• E-mail me at lmark@compete.com
• Connect with me via LinkedIn: www.linkedin.com/in/lmark
• Market research articles: blog.compete.com/author/lindsey-mark/
• Follow me on Twitter: @linji
Questions & Feedback
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