Up with marketing best practices without spending eternity on Google, investing all your resources into competitor analysis, or hiring a full-time analyst to do it for you. This is a streamlined and proven process that our RightMetric team uses to deconstruct successful digital strategies and isolate the real drivers of growth. In short, it will help you cut through the noise and see if what your competitors are doing is actually working.
Debunking a common myth
Before we dive into the details of this framework, it’s important to point out a common misconception I’ve noticed about winning marketing strategies. You’ll see a lot of advice from so-called “experts” who say that all you have to do is regularly check your in-app analytics (like Instagram Insights or Google Analytics) to determine which belarus phone number library strategies you should seriously pursue. However, while it’s definitely valuable to understand where your analytics are at any given time and how they’re trending, this is clearly not the way to inform the tactical execution of a marketing strategy.
Think of it this way: If you want to get to a certain destination on a map, you need to know three things: where you are, where you want to go, and how to get there. Analytics tell you where you are; your marketing goals tell you where you want to go. But when you step outside your company and explore winning strategies based on hard data, you’ll know how to get there.
Before we start explaining our process, one final warning:
This framework expresses the concepts involved, not customize your folders with colors! necessarily the technical details you need to handle on the back end. If you want to start seeing results from the process we’re about to share, spend some time doing manual data collection.
OK, here are the four steps to achieve this:
1. Monitor competitor marketing campaigns and KPIs across multiple channels. Pull data from as many digital channels as possible. Track their progress over time. If you’re wondering why you need to buying house b monitor both campaigns and KPIs, proceed to step 2.
2. Identify growth spikes in activities or KPIs. Determine if all brands in your industry are seeing a growth spike, or just one of them. If it’s happening to all of them, then it’s likely a seasonal trend. However, if it’s only happening to one company, it could be because they’ve found a winning strategy and they’re making the most of it.