Matt Lloyd Mobe Tips: The 3 c’s are Compare, Compete, and Conquer. Legendary boxing coach Freddie Roach has been in the corner of some of the most successful fighters in the history of the sport. From multi-division world champions like Manny Pacquiao and Miguel Cotto to the likes of Oscar De La Hoya and Mike Tyson, Roach’s professional background boasts a lot of titles and accolades.
As well you train to become better at your own art, athletes have to understand their opponents, study them, then adapt. Only when you understand your competition’s strengths and weaknesses can you adapt your own strategy to gain success.
Read Their Copy.
Matt Lloyd Mobe Tips: This isn’t about copying. It’s about learning how the competition is “talking” to your shared audience. Are they saying things that you should be saying? Are they using a language that is more appropriate for your market?
What’s Their Online Ranking?
Matt Lloyd Mobe Tips: Once you analyze your competition’s website and content, list a number of keywords that they use and run them in search engines. If the rankings they receive are more prolific than yours, you can act on that by adding their words to your own website, landing pages, graphics, and headers.
What Is Their Online Marketing Strategy?
Matt Lloyd Mobe Tips: Check your competition’s online marketing campaigns and the visuals they use. Is it different from yours and is it more successful? If this is the case, you might need to tweak your marketing strategy to reach out to the same target audience and gain your own customers.
Check Their Social Media Presence.
Matt Lloyd Mobe Tips: Social media is the definitive method of interacting with customers. Having a strong and interactive online presence not only helps you retain paying customers, but it also encourages new ones to engage and try out what your business can offer. Making your posts and updates entertaining even results to a bonus of having people enjoy and share your content.
What Does Their Audiences Communicate?
Matt Lloyd Mobe Tips: You shouldn’t stick solely with your competition’s social media accounts to know their customer’s feedback. Consequently, you also need to check your competition’s blog pages and forums.
Buy Directly from Your Competition.
Matt Lloyd Mobe Tips: Whatever industry you’re in, you can buy or use a product or service that your competition sells to get a real idea of what you’re up against. You may find that your product development becomes more productive when you realize that there is something your competition is missing in their products or services.
What Platforms Have They Missed?
So, your competitor is a Facebook hit and a Twitter wizard. So what? There’s bound to be some platform that they’ve failed to capitalize on. Startup companies tend to go all out in “social media” and begin “socializing” with audiences as soon as they set up their profiles on networking sites (as the ‘start your own business’ handbooks tell them), yet they tend to forget signing up on other online platforms that can be just as effective for customer engagement.
How Do They Manage Their Brand?
Matt Lloyd Mobe Tips: Researching your competition’s social media presence will definitely give you a glimpse into how brand management works. If this is your first business, any little insight will help when it comes to managing your own brand.
Matt Lloyd Mobe Tips: Google Alerts gives you a steady stream of information that allows you to monitor your competition’s performance and strategies. Whether it’s from mission statements, sales alerts, or other marketing campaigns, Google Alerts will notify you of their overall performance and reveal what works and what doesn’t.
How Effective Is the Status of Their Company Culture?
Matt Lloyd Mobe Tips: You’ll never know exactly what a day-to-day experience is within the confines of your competition’s office walls, but you can definitely pick up on what’s important to them and what defines their company culture.