TikTok published a best practice guide on how to optimize your ad campaigns and bidding strategies for maximum performance.
The 13-page guide includes tips and recommendations for:
Account structure.
Campaign setup.
Data connections.
Creative.
Attribution.
Measurement.
Why we care. If you plan to run campaigns on TikTok this year, you should check out this guide as the tips provided are directly from the platform. However, it’s important to keep in mind the source of this information, and that certain advice may prioritize TikTok’s interests over advertisers’.
Ad account optimization. As part of a nurtured account strategy, TikTok recommends ensuring your Ad Account is structured towards the end-to-end user journey, for example:
Only use one ad account.
Combine and diversify ad groups.
Nurtured account strategy. TikTok advises starting with upper funnel conversion events (don’t immediately start with the lowest funnel events) and repeating the process for each new Ad Group. The platform claims this is the “key to scalable growth and long-term performance.”
Data connection setup. TikTok states that by utilizing its data connections to measure and learn from consumer actions on your website, you can maximize the chances of conversions.
Setting and scaling your budget. TikTok recommends adhering to its best practices to maximize the effectiveness and efficiency of your budget utilization. The platform notes that it is advisable to set budgets for both campaigns and Ad Groups.
Bidding strategy. The bidding strategy you select tells TikTok’s system how to bid for you in the ad auction, so the platform advises selecting a bidding strategy that is best aligned to your primary KPI for campaign efficiency.
Ad fatigue. When you reach the maximum number of people who are interested in your ad, you may experience ad fatigue. TikTok has some tips on what actions you can take if this happens.
Attribution. TikTok recommends using Click Through Attribution together with View Through Attribution for a holistic view of your campaign.
What TikTok is saying. TikTok said in a statement:
“Ensure your campaigns are set up properly so that you can achieve repeatable, reliable results with ease. Use the best practices in this guide as the foundational building blocks for success on TikTok.”
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Deep dive. Read TikTok’s optimal web performance best practice guide in full for more information
New Delhi: Paytm E-commerce has changed its name to Pai Platforms and has acquired Bitsila, a seller platform on ONDC, gaining share in the online retail business. According to sources aware of the development, the company had applied for a name change around three months ago and got the approval from the Registrar of Companies on February 8.
“… The name of the company has been changed from Paytm E-Commerce Private Limited to Pai Platforms Private Limited with effect from the date of this certificate… The company was originally incorporated with the name Paytm E-Commerce Private Limited,” according to a Registrar of Companies notification dated February 8.
Elevation Capital is the largest shareholder in Paytm E-commerce. It is also backed by Paytm Founder and CEO Vijay Shekhar Sharma, Softbank and eBay.
Sources said that the company has now acquired Innobits Solutions Private Limited (Bitsila) which was launched in 2020 and operates as an ONDC seller platform with full-stack omnichannel and hyperlocal commerce capability.
“Pai Platforms is a leading buyer platform on the ONDC network and Bitsila acquisition will further bolster its commerce play,” the source said.
Bitsila was launched in 2020, and is among top three seller platforms on ONDC. It supports marquee brands like McDonald’s, BigBasket on ONDC.
“The full-stack omnichannel and hyperlocal commerce capabilities of Bitsila have fuelled its growth, allowing it to manage over 600 million product categories across over 10,000 stores in more than 30 cities. The platform caters to various sectors, including grocery, food and beverages, fashion, beauty, personal care (BPC), and home decor,” the source said.
Published On Feb 9, 2024 at 12:34 PM IST
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First, we have someone offering us to pay for it: Then there’s someone else, framing their backlink request as a “guest post opportunity”: And finally, here’s the most professional one of the three. This email looks fairly well written, but…
Multiplier has filed an insolvency plea against Amazon Wholesale (India) Private Ltd for default of Rs 3.7 crore (excluding Rs 31 lakh as interest) for eight invoices raised between March 2023 and May 2023.
Multiplier sent a demand notice to AWIPL in November last year and filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016.
AWIPL has raised concerns regarding the invoices raised by AWIPL, deeming some of them fake and noted that it could not settle unless it was convinced.
Multiplier had initiated an investigation by EY to look into the concerns. The bench noted that both parties should try to reach a settlement before the next date of a hearing scheduled on February 13.
The counsel for Amazon observed that there was a need for the service provider to get its house in order. Multiplier has initiated criminal proceedings against employees in the fake invoice case.
The bench asked that Multiplier present the report by EY, noting that fake invoices were indeed a matter of concern.
The bench also noted that some amount is payable, but it needs to be determined how much of it is in dispute.
Multiplier had entered into a two-year agreement with Amazon Seller Services Pvt Ltd, another subsidiary of a foreign company, on May 1, 2019, which was executed in January 2020 for two years and was transferred by ASSPL to AWIPL.
AWIPL had filed a reply to the petition on February 6. The bench will hear further arguments next week.
Published On Feb 9, 2024 at 02:50 PM IST
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Everyone in SEO uses ChatGPT. But even after all these months, I still see many folks using it wrong.
Let’s explore three common mistakes and how you can fix them.
Mistake 1: Asking it questions it doesn’t have the answer to
Believing everything ChatGPT says is never a good idea, but believing answers to questions it doesn’t have data to answer is a recipe for disaster.
For example, here’s me asking it for easy-to-rank-for long-tail keywords:
The results might look okay at first glance, but if you paste them into a keyword research tool like Ahrefs’ Keywords Explorer, you’ll see how bad they are. The search demand for all of them is so low that they’re not even in our database of 16.2 billion keywords:
Google Trends shows the same thing:
The reason for this is simple: ChatGPT just doesn’t have the data. It has no clue how often things get searched or whether a keyword is “long tail.”
Here’s another example of a question ChatGPT doesn’t have the data to answer:
Once again, we run into a similar problem. To classify intent, you need to actually search for the keyword and analyze the top-ranking pages and SERP features. ChatGPT can’t even browse the web (well, GPT 4 can, but it can’t browse Google results), so it simply cannot do this well.
How to fix this mistake
Keep in mind ChatGPT’s limitations and how it works. If you know it doesn’t have the data to answer a question well, either refrain from asking or give it the data it needs to provide a better answer.
For example, if you want it to classify search intent, you need to give it something to go on, like the titles of the top-ranking pages. Only then can it even attempt the task at hand.
Are you an Ahrefs user?
We’ve built a much more robust version of this idea into Keywords Explorer. Just click “Identify intents,” and AI will feed back the results.
Similarly, if you want ChatGPT to find content gaps, you need to feed it the content of both pages and ask it to identify gaps. Or, alternatively, run a content gap analysis in Ahrefs, export the keyword gaps, and ask it to summarize them.
Mistake 2: Expecting perfect results from your first prompt
ChatGPT rarely gives you exactly what you want on the first try.
For example, I recently asked for some technical coffee-related terms to use as seed keywords in Keywords Explorer.
Here’s what it gave me:
This isn’t a bad response, but having the descriptions there (which I didn’t ask for) was annoying because it made copying and pasting the list of terms difficult.
I faced a similar issue when I asked it to group keywords into broader categories, and it gave me a bulleted list.
I didn’t think much of this at first, but I soon realized I needed the results formatted as a table so I could paste them into a Google Sheet and filter them.
How to fix this mistake
Your first thought might be “prompt engineering” or buying some premium ChatGPT prompts.
While these things might help, you often still won’t get perfect results right away for one simple reason: ChatGPT prompts are like recipes. Even if they have a solid base, you still have to adjust them to your tastes.
For example, here’s a genuine premium prompt for writing a title and meta description:
And here’s the output:
It’s not bad, but it’s a bit dry for my liking. So, I followed up and asked ChatGPT to make it “a bit less formal and more playful.”
Definitely better, but a little too playful this time.
Let’s ask it to dial it down a bit.
Not bad.
In my experience, this iterative process is the key to getting good results from ChatGPT. Keep things simple to start, then refine as you go.
For example, I recently tried creating a UK tax calculator with ChatGPT. Instead of writing out insanely detailed instructions from the get-go, I started with a simple prompt: “create a uk tax calcalator in HTML, CSS, and JS”
Here’s the calculator it created:
Is it perfect? No. I wanted it to calculate the tax automatically based on UK bands rather than asking the user for their tax rate. But with just a few iterations, the problem was solved, and I had a pretty neat and accurate calculator.
Looking to use AI to write meta titles and descriptions?
ChatGPT will happily put one word in front of the other if you ask it to write something, but the content will just be a mishmash of what’s already been said a million times. In other words, boring boilerplate content.
Case in point:
(Talk about dull…)
How to fix this mistake
Don’t just ask ChatGPT to “write an article.” Give it more guidance and use it to brainstorm ideas.
For example, say I’m writing a post on link building tips. Rather than asking it to write the whole article without guidance, I can start by asking for some outreach tips to get my creative juices flowing.
I don’t love any of these, but I think you could combine #1 and #4 for a unique tip: record and include a short video pitch in your email.
Now I have the idea, I can ask ChatGPT to expand on it and write it up:
Is this perfect? No. But it’s certainly not bad. In fact, if we cut some of the fluff and spend five minutes polishing the copy, it’s pretty decent:
X. Record Short Video Pitches
Personalized video messages add a human touch to your pitches, and you can create them effortlessly with a cheap webcam and free Loom account.
For example, say you’re running a broken link building campaign. Instead of sending a long-winded email explaining the issue, why not show them exactly what you mean? Fire up Loom and give them a visual rundown.
Point out the broken link on their page.
Show them exactly where it is and why it matters.
Suggest a replacement link from your website and explain why it’s a great fit.
Here’s an example:
{insert video}
It might only be 1-2 minutes long, but it’s super helpful, and the personal touch can make a big difference in how your pitch is received.
ChatGPT is also great at helping you improve and optimize existing content. Again, you just need to give it the right direction…
For example, we recently found that we ranked #7 for “blogging tips” but didn’t own the featured snippet.
Sam theorized that, among other things, it might be because the top-ranking page’s subheadings clearly communicated what their tips were, while many of ours were vague:
Did it work? You’ll have to watch the video to find out, but honestly, it doesn’t matter. It’s obvious to me that the ChatGPT “optimized” ones are much clearer than what we had before, which means ChatGPT improved our content.
ChatGPT is also great at proofreading, simplifying unnecessarily lengthy sentences, and anything along those lines. You know, all the stuff that improves content quality and no doubt indirectly influences user signals.
Final thoughts
ChatGPT is insanely powerful and useful—but only if you understand how to use it.
If you’re hoping for it to write great content with no direction whatsoever, keep hoping. It can’t do that yet. But it can help with brainstorming, polishing human-written content, and many other SEO tasks. You just need to keep in mind its limitations.
Here’s a 5-minute(ish), beginner-friendly introduction to each of them. Organic traffic data refers to how often people visit your website through unpaid search results. Key data How to get it To get organic traffic data from Google, set up a…
New Delhi: Tata-owned BigBasket is expecting a 300 per cent increase in the overall sales for Valentine‘s week as compared to the previous year, indicating a substantial boost in consumer spending and demand for Valentine’s Day-related products, it shared with ETRetail.
Speaking on the availability of such products on quick delivery platforms, Seshu Kumar, chief buying and merchandising officer at Bigbasket said, ” With bigbasket now’s quick delivery service, our aim is to provide convenience and savings for our customers, making it easier for them to create memorable moments with their loved ones.”
The e-grocer shared that sales in categories such as teddy and heart soft toys, chocolates, makeup and fragrances, roses, and decor and gift sets have seen a substantial increase from previous year. From these categories, the platform has seen a 4-digit growth rate for teddy and heart soft toys sales indicating a significant surge in demand for these items.
Similarly, roses have seen a surge in demand seeing a 200 times growth from last year.
In the home and decor category, candle lights, heart LED lights, balloons, and danglers, have witnessed a high growth rate of over 1,500 per cent, reflecting a surge in demand for Valentine’s Day-themed home decor, according to BigBasket’s data.
Also, chocolates have seen a considerable increase of 100 per cent compared to last year’s sales during the week, with a two times growth in special Valentine chocolates, the company shared.
Published On Feb 10, 2024 at 09:20 AM IST
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Competitive intelligence (CI) sounds like hogwash to some and a holy grail to others. Many organizations try it out and chalk it up to “an expensive, fruitless endeavor.”
Truth is, they’re doing it wrong.
In this no-nonsense guide, we’ll go beyond the MBA-hyped-up textbook jargon and dive into the tactics that will actually make a difference.
But first, let’s make sure we’re on the same page about what competitive intelligence really is…
What competitive intelligence is actually about
Competitive intelligence, as the name suggests, is the act of gathering data and insights about your competitors.
However, contrary to what many believe, the aim isn’t to take immediate action on this data. It’s to keep you well-informed about what’s actually going on so you can make decisions that improve your competitive stance in the market over time.
To do this successfully, you need to pay attention to three things:
The things influencing your customer’s buying decisions.
The state of the overall market.
Your competitors’ positions in the market and their ability to influence buying decisions.
When you know the position of every competitor in the market and the direction they’re moving in, it becomes much easier to chart a course for success. Better yet, if you know the direction your customers are heading in, you can meet them there and become the market leader, ahead of your competitors.
Is competitive intelligence important for modern businesses?
Competitive intelligence has never been more important for businesses. Customers are not only more aware of your competitors but it’s now easier than ever for them to find multiple alternatives to you in less than three seconds.
When done right, a successful competitive intelligence program helps you:
Gain a powerful advantage in the industry.
Improve your market share.
Make more informed decisions.
Pivot your strategy when markets change rapidly.
But perhaps most importantly, competitive intelligence allows you to prevent competitors from taking over your turf.
When Bing integrated ChatGPT into its search engine, Google was unprepared and had to scramble to keep up. In a matter of weeks, Google launched Bard, another generative AI model to compete with ChatGPT and keep Google in the AI race.
However, in its haste, Google’s model provided inaccurate responses and ended up causing a 7.7% market share loss, equating to over $100 billion lost overnight.
When done right, competitive intelligence programs help your company defend its flank so you’re in a much better position than Google was in this situation.
8 competitive intelligence tactics to stay ahead of your competitors
You can build your competitive intelligence program however you like. Here are some tactics to get you started. Pick the ones that you feel apply best to your industry.
Remember, CI is about knowing everything that’s going on and honing your instincts more than it is about taking immediate action.
Some tactics you can take action with today whereas others are best for the long run.
1. Customer analysis: Every dollar is a vote of confidence
Customer analysis is about understanding what influences buying decisions within your market and who your customers think your competitors are (i.e., who else they are spending their money on).
While you can certainly gather data about your own customers, it is best to go beyond your data and understand buying decisions across the market as a whole.
How to do it
Gathering unbiased data about your customer’s buying decisions takes a little bit of grunt work but is well worth the effort. Here’s the process in a nutshell:
Discover where your audience hangs out online and the platforms they frequently use.
Figure out which competitors they can easily find across these platforms.
Read conversations and reviews they’ve left (about you and competitors).
Isolate the things they like or don’t like that influence their buying decisions.
For example, nine times out of ten your audience will use Google to help them find the product or service you offer. Since Google positions you alongside multiple competitors with every search, you need to gather data about what other companies are showing up for the terms most relevant to your business.
To find these, check out your website in Ahrefs’ Site Explorer and navigate to the Organic Competitors report.
Here you’ll see a list of websites that Google includes alongside yours when people look for the product or service you offer and what their share of visibility is.
If your website is fairly new, you can instead search for your main topics, products, or services in Ahrefs’ Keywords Explorer. You can add a list of terms relevant to your business, its products, and services here. Then navigate to the Traffic Share by Domain report and see what websites are most visible for different queries.
Beyond Google, you can also gather data about social platforms, forums, and multi-media content your audience interacts with frequently by using tools like SparkToro.
Then, check out where these people tend to hang out online. Pay close attention to the discussions they’re having and reviews they leave about what they like or don’t like about the products and services available to them in your market.
Also, pay attention to:
Companies, products, and services mentioned a lot: These are who your audience sees as your competitors.
Features and attributes frequently talked about: These are the things that influence their buying decisions.
The overall sentiment around specific brands, products, and services: These are the unbiased things they like and don’t like about you and your competitors.
2. Create competitor playbooks: Get to know them inside out
For each competitor you’ve identified (or that your audience frequently talks about), it’s worth creating a profile or playbook that stores data and allows you to observe patterns over time.
This tactic is all about figuring out what competitors are doing and how they’re thinking about the market—and then recording it so you can observe patterns over time. Go through this process every few months or at least once a year so you can track changes over time.
How to do it
There’s a lot of data you could monitor. Focus your efforts on the things that provide clues as to your competitors’ next moves and the direction they’re heading in. You can pay attention to:
Their website and content: Are they targeting new topics, phrases or search terms that you can also leverage? Are they offering deals during certain times of the year?
LinkedIn: What’s their headcount like? Has it grown? What kinds of roles have they hired recently and does this provide any clues about their next steps?
Crunchbase: Are any of your competitors seeking funding? Or, have they raised more capital recently?
Google Business Places: Have your competitors opened up offices in new locations? For a national business, franchise or multi-region operation, this may be a critical piece of data.
Quarterly reports: Are any of your competitors publicly listed companies? If so, check out their quarterly revenue reports.
For example, if you plug ClickUp’s website into Ahrefs’ Site Explorer and filter for new pages in the Top Pages report, you’ll see they’ve published many blog posts in the last six months.
Of these, there are a number of posts about topics like AI and software alternatives that have gained a lot of traffic in a short period of time.
If we check LinkedIn, we can see that out of 1062 staff, 186 (17.5%) are involved with content in some way.
And they’re also hiring more content strategists according to their careers page:
Then overlay data from Crunchbase about their funding rounds:
The picture we start to see with these data points is that ClickUp is a well-funded company, investing rather heavily in its content strategy.
There are of course more nuances that you can dig deeper into, but overall, these are the sorts of insights you want to record and keep track of over time.
In doing so, it will become obvious if they do something totally different. For instance, if they hypothetically start hiring AI engineers, it could be a sign their content or product strategy shifted more heavily into the realm of AI. Especially if they’re simultaneously publishing more content about alternatives to AI tools.
The possibilities are endless, but you get the idea.
3. Competitor listening: Monitor their content and brand mentions
You can easily monitor each of your competitors’ marketing and communications materials with alerts.
Not only can you learn where they are being mentioned online, you can also reverse engineer where they spend their marketing budget and what channels are working best for them.
How to do it
Start by setting up a dedicated email account to receive a copy of all the marketing materials your competitors put out there. A free Gmail account you can share with your team should do the trick.
Then, subscribe to all the channels your competitors post content in, like:
Email newsletters
Social profiles
YouTube channel
Podcasts
Blog RSS feeds
Make sure you also set up alerts like Ahrefs’ Alerts or Google Alerts to track media and brand mentions on other people’s websites.
Google Alerts will track every mention and can quickly clutter your inbox. In Ahrefs, however, you can use the Domain Rating (DR) filter to restrict alerts to those from big brand websites only. This can provide more focused insights into your competitor’s digital PR efforts.
To set these up in Ahrefs, go to Alerts > Mentions and add a new mention for each competitor taking care to exclude the competitor’s own domain. Set the DR filter to something high like 70+ to filter out mentions on small websites.
If you wish to track multiple terms for each competitor, set up a new alert. For instance, you may wish to track their brand name mentions separately from mentions of their branded products or features.
Forward these alerts to the new email you set up to receive automated updates.
advanced tip
It pays to pay attention to the messages each competitor is sharing. Are they heavily promoting a specific feature or selling proposition?
If so, cross-reference the competitor’s reviews on third-party platforms, like TrustPilot, to see if customers are mentioning it.
Are they investing in a thing no one cares about? → If customers aren’t talking about it, it may be a sign it’s not worthwhile. Wait it out before you start investing in the same thing.
Are they focusing on something their customers are still complaining about? → This may be a sign they got it wrong and could be an opportunity for you to sweep in with a better solution.
Are customers loving the thing they’re promoting? → It’s likely they are directly influencing buying decisions with this feature and it’s worth further consideration for your business.
4. Gather historical competitive insights: Avoid pitfalls and leverage past successes
Historical insights are a goldmine of valuable information. For each of your competitors, you can:
Track the history of their growth on different platforms.
Monitor how they’ve evolved over time.
Identify annual seasonal trends in sales or marketing messages.
Learn from their past mistakes.
How to do it
There are many data sources you can use to gather historical insights about your competitors.
Wayback Machine is my favorite place to start. It gives you a visual history of web pages that you enter and can also provide some historical snapshots of various social platforms too. For example, here are the stats of our Twitter account in March 2021:
You can see how big our following was, how much content we had published, and more. You can find similar insights on your competitors too if you take the time to investigate their history.
The only caveat with Wayback Machine is that it tends to work better for web pages that get a lot of visits. If your competitors are on the smaller side, you may not find much here. It also doesn’t work for every social media platform. I’ve had better success with YouTube and Twitter than Instagram or Facebook for instance.
Another place to check for historical data is Ahrefs. You can track the history of your competitor’s organic website growth in Site Explorer > Top Pages to identify their content marketing history.
And if you want to get extra crafty, check out the history of their paid ads in the Paid Search > Ads report.
In this report, you can not only see which ads get the most traffic, but you can also see their ad copy, which pages they are boosting the most, and which competitors they’re hitting the hardest with their ad titles.
For example, check out some of the different ad messages ClickUp has tested out over the last year, and the performance of each:
Not to mention how they’re tailoring their messaging to compete directly with Salesforce and Lucidchart. Lots of competitive insights you can gather here!
5. Follow key people: Loose lips may sink your competitor’s ships
Sometimes, the best way to know what’s going on within a competitor’s company is to hear it directly from the source. Following the content published by key members of the company will provide a wealth of insights about what they’re doing and how they’re thinking about the market.
How to do it
Identify all of the key people within each competitor’s company. Go beyond the C-Suite executives and also think about people like:
Board of Directors
Investors
Employees in roles of interest
Industry partners or SaaS platforms they use internally
For each person of interest, follow their social media posts, keep tabs on their personal websites, subscribe to their email lists, and monitor the key ideas they are talking about in forums and comments. You can set up alerts for each person of interest in Ahrefs and funnel emails to a dedicated inbox as frequently as you like.
More often than not, the latest ideas they’re talking about are inspired by what’s going on within the company they work for. For example, our CMO Tim Soulo regularly shares insights about our new product features on Twitter:
6. USP positioning: Articulate a competitive edge that matters to customers
The concept of a “unique selling point” is not new. However, its meaning can often get lost when brands search for the latest hype or buzz to follow and tout those as their USP.
Being able to articulate exactly what makes you unique and who should care about your point of difference matters.
It’s like an aged care home saying “we’re different because we care about our residents.” Name one aged care home that won’t say something to this effect. This then leads to the point, if everyone is saying it, and it’s true, then it’s not unique, obviously.
Articulating your awesomeness is less about you and more about the things your audience cares about.
How to do it
Remember how I harped on about understanding what affects your customer’s buying decisions at the start of this post?
This is where you get to use that knowledge.
Surprisingly, many people will care about other things before they care about price. For example, in the aged care industry, the resident’s experience is a far more important decision-making factor than price.
So, go looking for data that can help you position your brand as the best in the area for resident experience (or whatever the equivalent is in your market). Check out:
Competitors’ reviews for customer sentiments
Publicly available comparative data from trustworthy sources
Data you gather from tests you’ve run
I did this recently for a client and we were able to compare their facility with over 140 others in their city using publicly available government data.
Based on the data, my client is ranked in the top 1.26% for “resident experience.” Better yet, their rooms are up to 50% bigger and 33% cheaper than competitors. This is a powerful USP to share that genuinely sets them apart.
Similarly, at Ahrefs, one of our core USPs is that our crawlers are among the internet’s most active and gather petabytes of data. Our customers can verify that our crawlers are right up there alongside Google’s thanks to publicly available data from Cloudflare:
Articulating your awesomeness shouldn’t be taken lightly. It’s your best chance to show your potential customers what truly makes you different and why they should care.
7. Price positioning: Know how your pricing compares to competitors
Sometimes, your price strategy is what makes you different. Other times, it helps to know how your pricing compares and whether competitors make any changes that affect your overall position in the market.
How to do it
Depending on the type of business you run, you may need to use different strategies.
For instance, if you run an eCommerce store or your competitors freely share pricing on their websites, you can use a free data extraction tool like Browse.ai to compile your competitors’ pricing on an automatic schedule.
In high-ticket or B2B verticals, prices are generally not publicly available. You can hire a mystery shopper to go through the sales journey with each of your competitors and record every step of the process on your behalf.
In some industries, you may also find your competitors’ prices listed on marketplaces they sell through instead of their website.
For example, Hershey’s website has no prices for their candy. But you can find them via other retailers’ websites like Walmart:
In any case, pricing is often something that you may have little control over. But knowing how your company compares is enormously helpful for sales teams, especially so they can handle objections.
There’s nothing wrong with being priced higher than the market average. It’s also totally fine not to discount your products to attract more sales. If this is your pricing strategy, lean into it and educate the market on what corners your competitors may cut to offer dirt-cheap rates.
8. Product positioning: Close product or service gaps
In some markets, consumers want a solution that is not currently available, yet is something you can easily supply them with. This is a product or service gap.
How to do it
You’ll need to overlay two different data sets to find the best opportunities:
What your customers want
What you and your competitors deliver
If you gather all the info on what customers are searching for and you notice neither you or your competitors are delivering something they are frequently searching for, there’s your gap.
In Ahrefs, you can gather both of these data sets, and track progress over time.
To find what your customers are searching for, use Keywords Explorer. Just enter a broad topic and check one of the keyword ideas reports on the left menu to see the most popular searches.
Sidenote.
If the results are too broad, use the “Include” filter to refine your search (that’s what I did above).
To find what you and your competitors deliver, use the Content Gap report in Ahrefs’ Competitive Analysis tool. This will show you keywords your competitors rank for but you don’t.
To monitor your competitor’s visibility over time use Ahrefs’ Rank Tracker. Check your website against your competitors in the Competitors > Overview report and pay particular attention to things like:
Share of Voice
Traffic changes
SERP feature visibility changes
pro tip
If you want to go one step further, try combining the two keyword lists in a spreadsheet using a vlookup formula or a pivot table. By doing this, you’ll find the keywords people look for that neither you nor your competitors rank for. These gaps are hidden goldmine opportunities that can improve your visibility with very little friction or competitive resistance.
Final thoughts
Doing competitive intelligence the right way comes down to being well-informed about:
What influences your customer’s buying decisions
What’s happening in the market
What your competitors are doing and how they’re thinking about the market
You can use a number of strategies to differentiate your business from competitors. Ultimately, however, it’s your customers that have the final say. They’re the ones that vote for the company that best fulfils their needs with their money.
And where money flows, markets grow.
If you’ve got any questions or are doing some cool things in your competitive intelligence programs, please reach out on LinkedIn!
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New Delhi: The procurement of goods and services from the government portal GeM will cross Rs 4 lakh crore by the end of this fiscal due to higher buying activities by various ministries and departments, a senior government official said on Monday. The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all central government ministries and departments.
“As of today, the procurement has crossed Rs 3 lakh crore and going by the trend, the procurement this fiscal will reach Rs 4 lakh crore,” GeM CEO P K Singh told reporters here.
In 2021-22, the procurement value stood at Rs 1.06 lakh crore and it crossed Rs 2 lakh crore last year.
Singh said the share of Central Public Sector Enterprises (CPSEs) such as Coal India in the total buying of goods and services is increasing at a healthy rate.
More than 245 CPSEs, including Coal India, SAIL, NTPC, and SBI, are participating in the process.
GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers offering a wide range of products and services.
Currently, government departments, ministries, public sector units, state governments, and central armed police forces are allowed to carry out transactions through this portal.
The portal provides a wide range of products from office stationery to vehicles.
Automobiles, computers and office furniture are some of the major product categories.
Services, including transportation, logistics, waste management, webcasting and analytical, are listed on the portal.
South Korea’s KONEPS is the largest such platform in the world. GeM stands at the third position after Singapore’s GeBIZ.
States/Union Territories such as Uttar Pradesh, Gujarat, Maharashtra, Delhi, Madhya Pradesh, Jammu & Kashmir, Odisha, Bihar, Assam, and Uttarakhand have placed significant procurement orders in the current fiscal.
“GeM’s expansion into the services sector has played a pivotal role in driving its accelerated adoption. Services sector contribution in the total procurement has increased from 23 per cent in 2021-22 to 50 per cent this fiscal,” Singh said.
He added that procurement of services from the portal has jumped from Rs 66,000 crore in 2022-23 to Rs 1.30 lakh crore so far.
“In this financial year, concerted efforts were made to reach out to various government bodies and maximise their participation in public procurement process through GeM.
“While central entities have contributed to 82 per cent of the current GMV (Gross Merchandise Value), increased engagement from states has propelled the platform’s growth,” Singh said.
States have procured goods and services worth Rs 49,302 crore so far this fiscal.
Talking about increased usage of the portal by northeastern states, he said Tripura has procured goods and services worth Rs 200 core so far this year.
Cumulatively, procurement worth over Rs 7 lakh crore has been done from the platform, which has led to savings of about Rs 70,000 crore to the government exchequer, Singh said.
Published On Feb 12, 2024 at 06:51 PM IST
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