Competitive Research & Assessment
Before you plan a complex media purchase, it is best that you plan proper research whereby you are able to assess quite frankly how much you are able to regain from each dollar this is being spent.
From this component, you have the chance to make use of a full fledged research study which will allow you access to what your rival companies are doing. However, you may still not be able to rely on just this study to figure things out, rather might be able to get a brief insight into the clients already present as well as newer ones and how they may be attracted. In this essence, a few important points to be taken into consideration are mentioned below:
- Determining and identifying the customer.
- Identification of the product with your rivals are selling.
- Careful research into the tactics and outcomes of your rivals.
- Analysis of the marketing strategy that rivals are adopting.
- Taking a mental note of their content strategy.
- Analysis of the mechanism of engagement and subsequent outcomes for the rivals.
- Observation of expenditure and the manner in which retargeting is done.
- Observation of media as a means of content promotion.
- The clear and careful sight of social media, strategies, and any other relevant platforms.
- Performing a SWOT analysis to understand better.