©2009 Yeoman Technology Group – All rights Rese Understanding Your Competition Online
May 24, 2015
©2009 Yeoman Technology Group – All rights Reserved
Understanding Your Competition Online
©2009 Yeoman Technology Group – All rights Reserved
AgendaOverviewData Collection ChallengesRecommendations by Channel
Current StateCompetitive InsightsRec’d Tools
Next StepsQ & A
NOTE: This content is geared towards mfg, pub, and hardware/software tech firms
©2009 Yeoman Technology Group – All rights Reserved
About Yeoman
Slightly Different Approach to Sales and Distribution
Focus on entire webSegment into ‘channels’Match customer buying patterns
Manufacturing, Publishing, and Technology CreatorsRely on usage statistics to support any assumptions$1 rule applies
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The Big Myth – There is not “One Internet”
DirectMajor
E-TailersBid / Auction Supply Chain
SystemsReferral /Associated
Knowledge Centric Social Centric
There are groups of distinct sites and systems. Each has their own group of competitors, sites, and systems. They ARE NOT searchable or accessible from one spot.
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Traditional Sales & Distribution Model
Manufacturer
Distributor
Retail
Partners
OEM Consultant
Direct
Sales Team
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Internet Delivery not consistent
Manufacturer
Distributor
Retail
Partners
OEM Consultant
Direct
Sales Team
Direct
ETailers
Bid
Supply Chain
Referral
Social
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Internet ChallengeMfg tend to rely on downstream sales channel for bulk of Internet Delivery
No vetting of different optionsAssumption partners are thereLess quality controlNo monitoring of changes
If you go directNeed to be able to manage distribution conflictsNeed ongoing cost / benefit analysisNeed to prioritize across all platforms
Understanding Competitive Strategy is critical
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Competitive Intelligence Gathering
General stats are plentifulEasy look-up and search functionsAbility to enter markets relatively quicklyLow cost ongoing monitoring
Provides a layer of transparency that just doesn’t exist in traditional channels
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There are Data ChallengesEasy to understand trends and indicatorsNot 100% accurate
Privacy, compatibility, and nature of tracking protocols
Great indicators of relative positionsNeed to tie back to your internal data
Use as a benchmarkLink to your different approaches per channel
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Internal vs. External Stats
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Key Statistics to haveYour Company
Current presenceStats per channel
Your CompetitorsWhere they areHow they’re sites & systems differ
Basics Visitors vs. Unique VisitorsPages, Page per visit, avg stayAmount spent on PPC, SEO, etc.
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Key Tools to StartInternal Site Tracking
Require for EVERY siteLeaders: Google Analytics, Quantcast, Yahoo Analytics, OmnitureTie links to EVERY activity you do onlineFilter OUT all your internal users and partnersMake baseline of your performance
Competitor Site TrackingAlways compare like to like statsInternal data shows relative inaccuracyLeaders: Compete, Alexa, Quantcast, ComScore, Experian Hitwise
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Yeoman Internet Channel Model
There are groups of distinct sites and systems. Each has their own group of competitors, sites, and systems. They ARE NOT searchable or accessible from one spot.
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Direct Sites
• Information• Support• Pricing• Ecommerce
Core Functions
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Core Tools
Volume •Compete•Alexa, others
PPC and Keywords •SpyFu•Keyword Tracker
Usage and Results •Tie by quality of site to relative average volume•Do they have the key features of a modern site?
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Are they just an Online Brochure?
Search •Google like functionality•Zero hit, results by category, recommendations
Help •Robust online system•Help me now, call me now
Ecommerce •Full shopping cart system•Reviews, ratings, and feedback
Collaboration •Integrated support systems•Potentially linking in knowledge or reviews
Key elements of proven E-Commerce systems based on Yeoman best practice model
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E-Commerce Giants / E-Tailers
• Pure Selling Vehicles• 2nd highest revenue channel• Multiple options
Core Features
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Major ETailers Unique Visitors
Have major traffic advantage due to broad line = more eyes
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B2B / Supply Chain
• Largest Revenue Segment• Highly Silo’d• Little interconnectivity• 50+ major systems
Core Features
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State of Bid indicatorsRFI / RFP
Pre-solicitation
Advance Notice
Bid
Short List
Sole Source
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Referral Systems
• Product = Price Engines• Service = Request A Quote• Other = Vary by Industry
Core Features
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Major Referral Engine Visitors
Almost all users of referral engines are BUYERS, not researchers
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Auction Sites
• Bid based sales• Detailed transaction
history• Buyer ratings
Core Features
• Volume• Performance• Historical prices
Competitor Insights • Determine if it’s a fit
• Get Relevant Site Account
• Bid and Review
Tools
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Knowledge/Content Systems
• Controlled Delivery of Information• Blogs• Gated Social Sites
• Owned by media corp or mfg
Core Features
• Sponsored site common in many industries
• Can be a major source of customers
• More complex the product, the more likely candidate
Competitor Insights • Site monitoring
• Group Tracking• Feedback and updates
Tools
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Social Networking
• Peer to Peer communication• Content controlled by site
(FaceBook, LinkedIn, etc)• Limited control of content
and postings
Core Features
• Over focus for most• 50% of 120k fan pages have
less than 500 fans• Strong resistance to open
sales pitches• Multiple valid systems
Competitor Insights • Balance ‘fan’ count and
followers with Unique visitor counts
• Setup alerts for self and competitors
• Expand LinkedIn presence
Tools
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What’s wrong with this picture?
Sales down last year
340 Twitter followers!!!
No referral, e-Tail, B2B, or Knowledge Centric presence
12,000 Baseline Web Visitors
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Next Steps…..Get your house in order
Understand your presence in each channelEnsure you’ve got accurate analytics in placeResearch who your key online competitors are
It may not be your traditional competitors
Set up a programWeekly snapshotMonthly TrendsQuarterly Activity Review
FYI - We offer complete setup and monitoring services. www.yeomantechnologies.com