Competitive Intelligence and Market Analysis
Competitive Intelligence The Smart Thing To Do
NHM can provide competitive intelligence in three various areas to help you make better decisions in your market space and in regards to your direct competition.
1. Website Keywords and linking strategies
2. Social Media
Are you ever surprised by your competition?
How do you gather, organize and use competitive intelligence currently ?
If you understood your competitors better would you win more business?
Why Nicholls Hospitality Marketing
Our holistic approach to hospitality marketing will help your business from the large strategic components down to the details of keyword competitiveness so that all marketing areas of your business run as profitability as possible. Our industry understanding will help leverage the details into intelligent actionable plans to pay you dividends
Ten Ways Competitive Knowledge Helps You
1. Help support marketing plans
2. Helps to set realistic targets and benchmarks based on industry and primary or secondary competitors
3. Helps with advertising strategies
4. Helps with Keyword selection for optimization generating better traffic
5. Helps with website content if you can see what your competition is doing or industry leaders you would be able to reverse engineer and start to develop content that is equally appealing, which is why we also offer web and social content creation services.
6. Helps with social media content
7. Helps with link building strategies
8. Helps with competitive positioning and branding and value proposition development
9. Helps sales teams to approach companies for group sales – conferences and events
10. Helps small businesses that can’t afford expensive monitoring tools
In regards to your website traffic we can help identify your competitors keywords and the links that they are using to drive traffic to their sites and how well they are performing. This will help you to know what results to expect when developing your content and creating your link building strategies. This will help you make better budgeting, cash flow projections and overall with your strategic marketing planning.
We will help you be able to respond to monitor the activity of your competitors on the most powerful and popular social media platforms so that you are able to continuously position your business in the most advantage way. Additionally by knowing what your competition is posting and the engagement that they are receiving on their content you will be able to make adjustments to capture new trending topics or highlight service. By knowing what is happening in with your competitors you may be able to jump into conversations and highlight how your business can meet the needs of dissatisfied customers. As just one of the ways that you would be able to gain new business in a cost effective highly targeted approach.
By understanding what your competition is doing you will be able to save yourself time and money on the advertising learning curve. We will be able to find out how long and how frequently they have run ads. The more often an ad is used the more successful the ad will have been. As we have mentioned before we believe that testing is important. By being able to see what ads your competitor has been running for how and at what cost you will be able to reduce the amount of time you spend in testing and creation. This information will also help you to know what type of ROAS to expect and what reasonable paid advertising budgets should be, helping you to avoid over spending or not spending enough to have impact.
Digital Marketing Mix
Knowing where your competition is spending their resources will help you to identify opportunities where you can gain an advantage, be it in email marketing, direct traffic strategies, or through paid ads.
When You Need The Whole Picture
Combining these various insights helps to provide you with a more holistic view as to what your competition is and save you from being blindsided. This will benefit you by being able to create timing responses to competition and as well as creating proactive strategies and positioning so that you will be able to win the race before it has started.