Top Competitive Benchmark Tactics

Get your buckles straight with Competitor Benchmarking

Does your brand outperform your competitor? Wait, but why should it? Because time is never the same again. You have to be ahead of all your competitors in this neck-breaking era of stiff battles between different brands. Every brand can get more likes and followers if they have a viral strategy on the play. But the true ordeal lies in getting the desired leads. When your surface-level metrics are going to be extremely valuable to start it, it is not going to be easy when you want to get into the actual picture of attracting the leads. When you are going to compare your nearby grocery store’s activities to that of Walmart, it would totally appear lewd. All you need to do is to ensure that your brand is moving in the right direction as per its feasibility and scalability. The cost, budget allocation and the frequency of the branding activities are going to determine the upcoming days of your brand. Analyzing your competitor is going to do a lot of good when you want to establish your brand in real-time.

Consider these key competitor tactics to measure the credibility of your brand:

Leave a way for a crazy your content performance

Every marketer should possess a strong notion of what they consider would be the best-performing content. When your post is going to shower chocolates and candies by garnering more likes, comments and shares, you should be aware that you have done something that your audience found attractive. You should know what magic spell of yours worked well with your customer. In addition, you should have that detective eye to note what your competitors have been up to. Your content performance would determine your place at the market. There are plenty of statistics that you need to take into consideration such as bounce rate and engagement rate of our website and social media posts. Coca cola’s “Share a Coke” campaign and Buffer’s open blogging are a few examples of content marketing gone great. Your content has to be top-notch if you want to stay a step ahead of the curve in terms of competition.

Take care of the frequency and time of your post

At which corner of the world does your audience reside? Are they awake when you are asleep? If that’s the case, you need to customize your post as per the audience. Likewise, you need to be aware of how often you have been posting. Are you halting your posts when you should be posting them without any intervals? Does it solve the audience requirement for your content? You should make sure that you compare all these strategies with your competitor. Remember, you are going to miss a lot if your competitors have been posting regularly on twitter and you do not. To sort it out, it is always advisable to take a step back and do a competitive audit for your audience. You get to understand where, how and when your competitors would be posting. You get to save time when you are going to post only when you have to post on the basis of the data. Instead of posting as much content as you can, you need to audit what hashtags, captions and post schedule your competitors are handling. Websites like Coschedule can let you know when and how much social media posts you need to post daily on different social platforms.

Amplify your Engagement Rate

The engagement rate is of foremost importance when you want to improve your brand power. Your follower count is not going to give you the final verdict on your brand power. It doesn’t necessarily mean that only brands with 1M+ followers are going to rock the market. You might have 500 followers who never fail to engage with your latest posts and eventually converts into your loyal lead. Some brands might have a smaller number of followers on paper but the engagement level might look sullen. The engagement rate would allow you to take a note on the follower count based on how many likes, comments and shares you have got on your post. Brands like Starbucks and Oreo and startups like Faasos are killing it on social media in terms of higher engagement! You are going get your engagement soaring when you are going to have your competitor on the bunch.

Look into the kind of content you are posting

When you are going to improve the outreach of your brand, you should keenly notice what kind of content you have been posting so far. What have been the response so far? Your brand should take a look at the content types and make the necessary changes if the strategy has not been working so far. Some of the strategies like Infographics, Video content, Blog posts and much more. They can invariably improve your engagement level. To ensure that it happens, take a look at what your competitor has been up to. But don’t let down the unique aspect that helped you stand apart from the competition. Also, the content type has to be platform friendly. When you are going to take an example of Hubspot’s Instagram, they would have showcased everything right from memes, how-to content to motivational posts. You would have an endless amount of social media ideas when you want your content strategy to succeed.

Improve your Growth Rate

When you are going to listen to your customer feedback, suggestions and work conjointly with your product development team, you are going to reap the best benefits. You can roll out different marketing campaigns that your fans are going to interact with regularly. The best way to improve your growth rate is to keep publishing new content, have a thorough team strategy and execute it all together. Determining the growth rate would be different for every company. For example, you might find 100 comments enticing. For other bigger players in your arena, it might be a daily occurrence. Hence audience growth analysis is going to help you keep track of your growth rate easily. Your brand has to grow in real-time when you have your growth strategy rolling down your sleeves.

Set the voice and the tone of your brand

Just like humans, your brand needs the best voice and tone. You cannot sound so meek and gleeful when you are representing an automobile brand. Setting the brand tone and voice requires the efforts of your team. Are you involving the right hashtags? Does your brand voice sound as per the industry standards? When you post useful content and engage with your audience in the right way, you are going to match up with the industry standards. There is a concept called a share of voice. You can use it as a competitive benchmark to determine the level where you match up with the industry standards. Take the case study of Dove. They are focusing on spreading body positivity among women with their soothing and friendly tone. It is always better to set a brand tone that suits your message.

Get to check your social mentions

The ultimate result for any brand would be increased social mentions. Every one of us wants that higher conversation and engagement rate, which would translate into more social mentions. You need to be aware of who is talking about you and your competitors. To ensure that this happens in the right place, you need to enable social listening. This is a vital factor to determine competitive benchmarks. When you are able to score a shout-out from any major brand or influencer, people would know that you are the hero launching the missile among your competitors. You need to track and mention your social mentions to know how you are performing. Your social mentions play a dominating role in determining how popular your brand is. Have a look at the influencers who your competitors have involved. Try to pull similar influencers into the picture. Are you receiving the right amount of engagement and social mentions? Is it above or below your competitor? Would you like to increase it? What new innovative methodologies can you involve? You need to consider such a plethora of factors when you are going to debate about social mentions.

Analyze the sentiments

When you are going to involve the right sentiments, you are going to hit the chord with your audience directly. You should appear as the best guy when you are placed at a place next to your competitor. You should have a social listening strategy as one among the sentiment analysis when you can take your positive mentions happily and face the negative remarks directly without beating around the hush. This metric is going to be useful when you have customer retention as your main goal with customer success activities. Buffalo Wild Wings, the big name in the FMCG industry was not sure how the audience would welcome their new sauce. They took advantage of social media analytics to understand the opinions and sentiments of the general public with the help of influencers. This worked extremely well for the brand.

Observe your UI/UX activities sharply

You cannot beat your competitor easily when you have a sloppy design and confusing model in the place of a well-planned strategy. Make sure that you sort it out with the right team efforts. By carrying out proper UX research and implementing the best UX design and research strategies, you are going to outsmart your competitors easily. At the end of the day, all we need is to impress our customers. Research more on what your competitors are doing and which part you can improvise on. Take a look at what they have been posting so far. Research what features your competitors are lacking. Research, research. That’s the core. If we can tick that block, then we are all done to carve a stable place for yourself among ‘n’ number of competitors. That is going to build a high brand reputation. Big industry names like Amazon, Google, Netflix and Facebook invest crores in UI/UX research and UX design. They enable high-end technologies like Artificial Intelligence (AI), Machine Learning (ML), Deep Learning and Big Data to understand their audience preference. They leverage that data to improve their UI/UX related activities.

Understand the strength and weakness of your competitor

You might be strong at your brand strategy whereas your competitor might have a better social media strategy in hand. It is always a matter of fixing and running. When you are not extremely suave at a particular place, you need to improvise on it, fix yourself and keep yourself up and running. If you can identify where you are lacking and where you need to improve yourself, you can hold a strong place in the market. If Apple had not understood the weakness of Xerox, we might not have entered into the world of iPhones. Hence it is always advisable to understand your competitor.

Are you tracking it right with the Competitive Benchmarks?

Competitive Benchmarking gives you a chance to understand what your competitors are doing keenly. By involving methodologies such as analyzing their sentiment, setting the brand voice and tone and creating killer content and involving the best UI/UX strategies, you are going to rank higher in the competitive ladder. When all you need is the best social presence against your competitor, why not put your stacks on the best UX research company? You just need a data-driven approach to ensure that you are growing in real-time. When you are going to conduct a benchmark analysis, you are all set to follow the game-changing strategies in the market. You need to take a look at the key point indicators (KPIs) if you want to translate it into better ROIs. All these factors would add up if you need the best competitive strategy to overcome the stiff competition that is prevalent in the market.

Pattem Digital and Competitive benchmarking- The right mix

Are you planning to involve competitive benchmarking as a part of your UX research? You are going to need the support and guidance of the experts. It’s time to get that with Pattem Digital by your side. Right from documentation to support, you can rely on our credibility.

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