Online Competitor Analysis – is it really necessary?

We all understand the need in today’s climate for going that extra mile for our business. We find ourselves examining our business, improving our processes, keeping a closer eye on our cash flow, cutting our expenses and valuing our customer relationships even more. The changing climate has also caused us to get savvy about our marketing spend and where we invest it. This has resulted in a shift from Traditional Marketing to Online Marketing, online marketing being viewed as a more cost effective way of generating leads and gaining new clients. But how can you further maximise your online marketing efforts and gain a competitive advantage? A Competitor Analysis can hold the key to strengthening your company’s bottom line. It can be argued that most firms do not conduct  Online Competitor Analysis often enough if at all. Instead, many business managers operate and run their campaigns based on impressions and conversations. This casual approach can result in a blind spot and …