Understanding what your competitors are doing with their marketing is absolutely vital for positioning your business effectively. It’s not about copying, it’s about identifying opportunities, understanding the landscape, and making sure your message resonates. Many Australian SMEs underestimate how much valuable intelligence is publicly available.
We often see businesses focusing solely on their own activities. While that’s important, a truly effective market positioning strategy requires constant competitor awareness. Here’s how we recommend tracking their marketing efforts:
- Website Analysis: Regularly review competitor websites. Look beyond the homepage. Examine their blog (if they have one), case studies, pricing pages, and ‘About Us’ section. What language are they using? What problems are they solving? How do they present their value proposition?
- Social Media Monitoring: Don’t just ‘follow’ competitors. Use social listening tools (many have free tiers) to track mentions of their brand, relevant keywords, and industry hashtags. This reveals what customers are saying *about* them, not just *to* them.
- Advertising Intelligence: Tools like Semrush or Ahrefs can show you what keywords competitors are bidding on in search engine marketing (SEM). This gives you insight into their target audience and the language they believe drives conversions. You can also get a sense of their display advertising activity.
- Email Marketing Sign-Up: Subscribe to competitor email newsletters. This is a direct line to their promotions, content marketing, and overall communication strategy. Pay attention to frequency, tone, and the offers they’re making.
It’s important to remember that competitor analysis isn’t a one-time task. The market is dynamic, and competitor strategies evolve. Dedicate time each month to revisit these areas. Don’t get bogged down in detailed reports; focus on identifying key trends and potential threats or opportunities.
The outcome of consistent competitor tracking isn’t to mirror their actions, but to refine your own positioning. By understanding their strengths and weaknesses, you can carve out a unique space in the market and communicate your value more effectively. Your next step should be to choose one of the areas above – perhaps website analysis – and dedicate an hour this week to a thorough review of a key competitor.
