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Competitive Intelligence Analysis

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Slides from a recent workshop @Found.ation:
"How to create a successful e-shop"
“Track your competitors and adjust your strategy”

George Giannakeas
Marketing and Product Director e-FOOD.gr
george@e-food.gr
@gioris

Published in: Data & Analytics
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Competitive Intelligence Analysis

  1. 1. Competitive Intelligence Analysis Found.a(on:     Workshop:    How  to  create  a  successful  e-­‐shop     20/2/2014     “Track  your  compe(tors  and  adjust   your  strategy”       George  Giannakeas   Marke(ng  and  Product  Director     e-­‐FOOD.gr   george@e-­‐food.gr   @gioris        
  2. 2. Competitive Intelligence Analysis All  Slides  are  adopted  from  Avinash   Kaushik’s  post   hQp://www.kaushik.net/avinash/ compe((ve-­‐intelligence-­‐analysis-­‐ tools-­‐metrics-­‐reports-­‐techniques/   During  the  presenta(on  they  are   used  to  perform  a  live  site  centric   analysis  on  the  online  shoe  market   in  Greece   (mainly  the  2-­‐3  biggest  players)   Note  that  only  indica(ve   screenshot  are  included             Good  Guy  Avinash  
  3. 3. If  you  know  your  enemies  and  know  yourself,  you  will  not  be  imperiled   in  a  hundred  baQles...     If  you  do  not  know  your  enemies  nor  yourself,  you  will  be  imperiled  in   every  single  baQle.  
  4. 4. CI data collection. The GOOD the Bad and the Useless! •  Toolbars   •  Panels   •  ISP  data   •  search  engines     •  self  reported   •  scraped/indexed   •  Hybrid   •  External   •   voc   Founda'onal  Concepts/Caveats.  
  5. 5. Internal vs External sources Professor  F  standing   on  the  moon  with  a   telescope  and  each   (me  he  detects  that   someone's  walking   into  your  store,  will   press  a  buQon  and   record  that  entry.   Founda'onal  Concepts/Caveats.  
  6. 6. Internal vs External sources Professor  A  standing   at  the  “door”  of  your   e-­‐commerce  site  and   every  (me  a   customer  walks  in,   he  presses  a  buQon   and  records  that   entry.  He  may  also   ask  for  an  ID     Founda'onal  Concepts/Caveats.  
  7. 7. Internal vs External sources Don’t  obsess  about  external  data   The  numbers  for  you  and  your   compe(tors  will  be  roughly   equally  wrong     Look  at  trends  rather  than  actual   numbers   Founda'onal  Concepts/Caveats.  
  8. 8. Small  sites  are  out-­‐of-­‐luck.   >100,000  Unique  Visitors  month  …   mostly  useless.   Between  250k-­‐500k  Unique   Visitors…  decent   more  than  500k,  to  say  1  mil,  is  in  a   very  good  place.   over  1.5  mil,  you  should  start  to  see   paQerns  in  the  CI  tool  you  see  in   your  own  analy(cs  data.   Small  countries  are  out-­‐of-­‐luck.       Founda'onal  Concepts/Caveats.  
  9. 9. Site-centric CI vs. Ecosystem-centric CI. Site-­‐centric  analysis  is  primarily  focused  on   looking  at  direct  compe(tors,  or  adjacent   ones,  and  learning  from  what  is  happening   with  Acquisi(on,  Behavior  and  Outcomes   on  their  website   Founda'onal  Concepts/Caveats.  
  10. 10. Site-centric CI vs. Ecosystem-centric CI. Ecosystem-­‐centric  analysis  is   primarily  focused  on  what  is   happening  in  the  industry,  in  the   sub-­‐category,  the  small  or  big   niche  that  everyone's  playing  in.   Founda'onal  Concepts/Caveats.  
  11. 11. Tools Used in this Experiment Vs Not Used •  Similarweb •  Google Trends, •  Adwords Keyword And Display Tools, •  Import.Io •  Seomoz •  Monitorbacklinks •  Facebook Insights •  Google Alert • Compete, (Usa Only) • Hitwise, • Raven  Tools,  For  Ecosystem-­‐ centric  Analysis.   •  Comscore
  12. 12. Industry Analyzed
  13. 13. •  hQp://www.spartoo.gr/   •  hQp://www.myshoe.gr/   •  hQp://www.cosmossport.gr/   •  hQp://www.z-­‐mall.gr/   Industry  Analyzed  
  14. 14. How much traffic your competitor gets? Traffic  Trends  Key  Metrics  Analysis    
  15. 15. Traffic  Trends  Key  Metrics  Analysis    
  16. 16. Traffic  Trends  Key  Metrics  Analysis     How much traffic your competitor gets?
  17. 17. Traffic  Trends  Key  Metrics  Analysis     How much traffic your competitor gets?
  18. 18. Compared this way? Traffic  Trends  Key  Metrics  Analysis    
  19. 19. This Way? Traffic  Trends  Key  Metrics  Analysis    
  20. 20. How about this way? Traffic  Trends  Key  Metrics  Analysis    
  21. 21. Tips 1.  Compare  long-­‐term  performance  between  compe(tors   •   Iden(fy  surprising  peaks  and  dips,  look  for  reasons  why  (as  in  the  spartoo   display  campaign)   2.  Create  benchmarks  you  can  use  for  providing  important  context   when  you  look  at  your  own  performance.     3.  Iden(fy  changes  in  your  marke(ng  mix/strategy.   4.  Look  for  surprising  compe(tors  suggested  by  these  tools.  Why  are   you  not  worried  about  them?   Traffic  Trends  Key  Metrics  Analysis    
  22. 22. Visitor/Audience Type Profile Analysis Once  you  know  how  traffic  trends   are  playing  out,  and  you  want  to   crush  your  compe(tors,  you  are   surely  curious  about  what  kind  of   people  are  visi(ng  your  website   vs.  theirs.   Visitor/Audience  Type  Profile  Analysis  
  23. 23. Visitor/Audience Type Profile Analysis Demographic,   Psychographic  profiles.     Vs     Behavior   Visitor/Audience  Type  Profile  Analysis  
  24. 24.  “I  find  behavior  to  be  a  million  (mes  more  useful  than  demographics  or  poli(cal  leanings.   And  I'm  totally  ignoring  that  demo/psycho  data  is  deeply  inferred  and  algorithmized.   It  is  a  lot  less  useful  to  know  that  22  yr  old,  gay,  African-­‐American,  republicans,  who  did  not  go  to   college,  and  have  four  children  are  7%  of  the  audience.  It  is  a  lot  more  useful  to  understand,  this  is   what  they  search  for,  this  is  what  they  read,  these  are  the  sites  they  tend  to  visit.”         Avinash  Kaushik   Visitor/Audience Type Profile Analysis
  25. 25. Visitor/Audience Type Profile Analysis Visitor/Audience  Type  Profile  Analysis  
  26. 26. Tips 1.  Demographics  and  Psychographics  :  try  to  wean  off  this  non-­‐very-­‐ useful  data.   2.  Look  for  Audience  Interests  type  data  from  your  CI  tool.  Create   hypotheses  as  to  what  this  means  for  your  content  strategies  on  your   own  and  rent  digital  plamorms.  Structure  tests  to  validate  these   hypotheses.   3.  Iden(fy  the  impact  on  your  display  adver(sing  campaigns.  This  will   have  direct  implica(ons  on  your  ad  targe(ng,  ad  content  and  ad   landing  pages  strategies.     Visitor/Audience  Type  Profile  Analysis  
  27. 27. Traffic Sources Competitive Analysis   Time  to  understand   where  visitors  are   coming  from!     Traffic  Sources  Compe''ve  Analysis  
  28. 28. Incoming Traffic Traffic  Sources  Compe''ve  Analysis  
  29. 29. Incoming Traffic Traffic  Sources  Compe''ve  Analysis  
  30. 30. Incoming Traffic Traffic  Sources  Compe''ve  Analysis  
  31. 31. Incoming Traffic Traffic  Sources  Compe''ve  Analysis  
  32. 32. Traffic Sources Competitive Analysis 1.  Make  big  picture  recommenda(ons  about  changes  to  your   company's  owned,  earned  and  paid  marke(ng  strategies.     2.  Iden(fy  tac(cal  recommenda(ons  for  your  display,  rela(onship-­‐ building,  and  other  such  strategies.   3.  This  is  much  harder  but  try  and  figure  out  the  implica(ons  of  the   Outgoing  sources  list.  Are  people  going  to  that  list  of  sites  because  they   did  not  get  what  they  want  from  us,  are  we  more  expensive,  is  our   internal  search  broken,  do  we  have  the  world's  worst  checkout   experience     Traffic  Sources  Compe''ve  Analysis  
  33. 33.  “Most  adver(sing  and  marke(ng  strategies  are  based  on  what  we  see  in   Google  Analy(cs,  or  what  we  feel  might  work.  Both  have  value.     Addi(onally  use  CI  data.  Use  what's  already  working  for  your  compe(tors.         Avinash  Kaushik     Traffic  Sources  Compe''ve  Analysis  
  34. 34. Search/Keyword Competitive Performance Traffic  Sources  Compe''ve  Analysis  
  35. 35. Search/Keyword Competitive Performance Traffic  Sources  Compe''ve  Analysis  
  36. 36. Search/Keyword Competitive Performance Traffic  Sources  Compe''ve  Analysis  
  37. 37. Tips 1.  Create  benchmarks  for  Overall  and  Paid  search  traffic  paQerns  of  your   compe(tors  to  create  new  and  improved  goals  –for  your  own  macro   search  strategy.     2.  Change  your  head  and  long-­‐tail  SEO  strategy  (links,  content,  distribu(on)   based  on  your  analysis  of  not  just  Share  of  Search  or  Volume  metrics  for   keywords,  but  using  engagement/behavior  metrics  to  ensure  your  target   list  is  pure  and  refined  gold.     3.  3.      Iden(fy  a  very  precise  list  of  paid  search  keywords  using  both  your   paid  compe(tors,  and  their  most  successful  keywords.  Ensure  you   include  opportuni(es  iden(fied  by  your  current  head-­‐to-­‐head  death   match  with  your  top  compe(tors.     Traffic  Sources  Compe''ve  Analysis  
  38. 38. Display Advertising Opportunity Analysis Don’t  Spray  and  pray!   Display  Adver(sing  Opportunity  Analysis  
  39. 39. Tips 1.  Quan(fy  the  implica(ons  of  the  gaps  in  your  current  display   strategy,  or  lack  thereof.     2.  Create  a  specific  and  targeted  list  of  categories  and  domains  you   should  target  influenced  by  where  your  compe(tors  are  (and  where   they  might  not  be).     3.  If  you  want  to  get  your  company  to  use  display  adver(sing  in  a   smarter  manner,  and  not  fall  for  old  cheap  tricks  like  View-­‐Thrus,  it   is  cri(cal  that  you  understand  Mul(-­‐Channel  AQribu(on  Modeling   and  ensure  that  you  are  using  both  Assisted  Conversions  and  Last-­‐ Click  Conversions  to  measure  success.     Display  Adver(sing  Opportunity  Analysis  
  40. 40. Social Strategy Effectiveness Social  Strategy  Effec(veness  
  41. 41. Tips   1.  Iden(fy  channels  that  are  more  effec(ve  for  your  compe(tors.  Contrast  this  with   your  strengths.  Make  re-­‐alloca(on  of  people/money  recommenda(ons  to  your   leadership  team.     2.  Content  analysis  via  use  of  the  second  report  above  is  perhaps  your  bff  in  trying   to  change  your  leadership's  mind  to  shir  from  shou(ng  to  conversa(on  marke(ng   on  social  channels.  Deliver  five  specific  social  efforts  that  your  compe(tors  have   rocked,  that  you  could  possibly  emulate  (or  do  one  beQer).     3.  If  your  data  looks  like  above,  you'll  quickly  realize  that  you  are  among  the  99%   that  s(nk  at  using  one  of  the  best  social  channels  on  the  planet  for  businesses:   YouTube.  Leverage  my  Reach,  Build,  Engage  framework  for  YouTube  and  iden(fy   current  weakness  in  your  strategy  and  recommend  fixes.     Social  Strategy  Effec(veness  
  42. 42. Tips   1.  Provide  a  list  of  target  countries  where  new  opportuni(es  exist  (as   iden(fied  by  your  compe(tors).  At  the  minimum,  make  recommenda(ons   for  decent  sized  experiments  to  validate  profitability.     2.  Do  a  liQle  compe((ve  intel  of  your  own     3.  If  your  CI  tool  provides  City/DMA  level  informa(on,  use  that  to  be  more   precise  about  where  to  target  your  adver(sing  in  these  new  opportunity   geographies.     Geographic  World  Domina(on  Opportuni(es  
  43. 43. Thank you George  Giannakeas   @gioris  

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