project grow workshop 4
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Identifying competitors using the internetTRANSCRIPT
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Identifying competitors using the internet
15-16 September 2010
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Who ?Who ?is this guyis this guy
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• Queensland’s largest corporate communication firm
• More than 90 professional communicators
• Specialist team in Digital communication
• Backgrounds in development, design, integrated marketing and PR
• Affiliated with the world’s largest communication firm
About your facilitator
Identifying competitors using the internet
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The digital landscape
Identifying competitors using the internet
• In 2008, 14.3% of Australian enterprise expenditure was related to Digital Services. In dollar terms this equates to an Australian Digital Services Industry of $17.9 Billion
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• By the end of 2009, enterprises and agencies in Australia engaged with 40% of their customers through Digital Services
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• At the same time, 25% of total customer expenditure involved Digital Services in one way or another
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Identifying competitors using the internet
The Australian online marketplace
• 12 million digital media users
• Spend just under 1.5 hours per day online
• Total page views of 15 billion per month (30 billion minutes)
• Demographics:
• 2-17yrs 21%
• 18-34 yrs 25%
• 35–49 yrs 26%
• 50+ 28%
• European nations record the highest percentage of 18-34 yr usage
• Australia records the fourth highest percentage of 50+ users in the world after US, UK and Switzerland
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Today’s agenda
Identifying competitors using the internet
1. Who, what, why, where, when, how?
2. Some methods and tools
3. Putting our learning into action
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Identifying competitors using the internet
1. Who, what, why, where, when, how?
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• Businesses or entities that offer similar products or services to your customer base
Who are my competitors?
Identifying competitors using the internet
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• What is their offer?
• What (online) strategies/tools are our competitors pursuing and how successful are they?
• What threats do they pose?
• What is the profile of our competitors?
• What are the objectives of our competitors?
• What are the strengths and weaknesses of our competitors?
• How are our competitors likely to respond to any changes to the way we do business?
What should we consider?
Identifying competitors using the internet
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• To understand our own competitive advantages/disadvantages
• To generate understanding of competitors’ past, present and future strategies
• To provide an informed basis to develop strategies to achieve competitive advantage in the future
• To help forecast the returns that may be made from future investments (e.g. how will competitors respond to a new product or pricing strategy?)
Why track competitors?
Identifying competitors using the internet
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• Think global…not just local
• In a digital age, competitors can be interstate, overseas or next door
• Benaraby Junction Nursery faces competition from Interflora.com.au
• Same sector or cross industry cannibalisation?
Where do my competitors come from?
Identifying competitors using the internet
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• Continual tracking is possible and advisable
• Consider an in-depth analysis before embarking on a new business-generating campaign
• Before online / web development $$ are spent
When should I track competitors (online)?
Identifying competitors using the internet
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How do we source competitor data?
Identifying competitors using the internet
Recorded data Observable data Opportunistic data
Annual reports and accounts
Pricing / price lists Meetings with suppliers
Press releases Advertising campaigns Trade shows
Newspaper articles Promotions Sales force meetings
Analysts reports Tenders Seminars / conferences
Regulatory reports Patent applications Recruiting ex-employees
Government / council reports
Discussion with shared distributors
Presentations / speeches
Social contacts with competitors
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Identifying competitors using the internet
2. Some methods and tools
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• Search
• Alerts
• Directory
• Places
• Insights
• Adwords
Identifying competitors using the internet
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Business listings and other sites
Identifying competitors using the internet
Business directory Queensland
Gladstone online
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• http://twitter.com/agneswater
• Gladstone Observer
• GAPDL
• Queensland Government statements
• DEEDI
• Industry bodies e.g. QMI Solutions
• Business awards
Cover all your bases
Identifying competitors using the internet
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Identifying competitors using the internet
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Get to know your competitor’s website
Identifying competitors using the internet
Alexa.com
Yahoo.com
Review source
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Identifying competitors using the internet
3. Putting our learning into action
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Questions?
Identifying competitors using the internet
http://www.twitter.com/rowland_au
http://www.rowland.com.au/viewpoint
http://www.facebook.com/pages/Rowland/374466726225?ref=ts
http://www.slideshare.net/RobLovegrove/competitors