How to Perform Competitive Research

How to Perform Competitive Research

Competitive research isn’t just a buzz word, it’s crucial to success in display advertising. You need to know what your competition is doing and look for ways to increase your market share. Only proper research on your products, market and keywords will give you the solutions you seek.

Product Research

Researching a product is a lot like doing a background check on a particular item. It starts with information about the product itself, what it is and what it does specifically. Next, you’ll want to look at the industry to see what major changes have happened in the past few years. Try to seek out case studies that show how your product is used by the general public, and if possible, study surveys about the quality of the product.

Market Research

Begin with the basics about the demographic you want to reach, including age and occupation of the people you want to sell to. Be sure to identify gender and marital status as well. Try to narrow these down and be as specific as possible. Ideally, you should try to find at least two core demographics you want to market to.

Keyword Research

Keyword research will tell you where your competition is bidding, and give you a rough idea of cost for a key term. You want to find terms that aren’t as competitive, but will still deliver good results. Try searching these terms on your own and making note of what you see. Use that data to inform the copywriting you do when you design your banner advertising.

Bio: Ted Dhanik is a direct marketing expert and CEO of engage:BDR. Ted Dhanik uses display advertising to generate leads for businesses in all market segments. Find out how to use banner ads for your business with tips from Ted Dhanik.