understanding your competitors online strategy

©2009 Yeoman Technology Group – All rights Reserved

Understanding Your Competition Online


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


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


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.


Traditional Sales & Distribution Model

Manufacturer

Distributor

Retail

Partners

OEM Consultant

Direct

Sales Team


Internet Delivery not consistent

Manufacturer

Distributor

Retail

Partners

OEM Consultant

Direct

Sales Team

Direct

ETailers

Bid

Supply Chain

Referral

Social


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


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


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


Internal vs. External Stats


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.


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


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.


Direct Sites

• Information• Support• Pricing• Ecommerce

Core Functions


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?


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


E-Commerce Giants / E-Tailers

• Pure Selling Vehicles• 2nd highest revenue channel• Multiple options

Core Features


Major ETailers Unique Visitors

Have major traffic advantage due to broad line = more eyes


B2B / Supply Chain

• Largest Revenue Segment• Highly Silo’d• Little interconnectivity• 50+ major systems

Core Features


State of Bid indicatorsRFI / RFP

Pre-solicitation

Advance Notice

Bid

Short List

Sole Source


Referral Systems

• Product = Price Engines• Service = Request A Quote• Other = Vary by Industry

Core Features


Major Referral Engine Visitors

Almost all users of referral engines are BUYERS, not researchers


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


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


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


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


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

understanding your competitors online strategy

Business

referral systems

direct sites

auction sites

knowledgecontent systems

groups of distinct sites

key statistics

key tools

key online competitors