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What’s a Competitive Analysis & How Do You Conduct One?

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What's a Competitive Analysis & How Do You Conduct One?

When was the last time you ran a competitive analysis for your brand? And most importantly, do you know how to do one efficiently?

If you’re not sure, or if the last “analysis” you ran was a quick perusal of a competitor’s website and social media presence, you’re likely missing out on important intelligence that could help your brand grow.

In this detailed guide, you’ll learn how to conduct a competitive analysis that will give your business a competitive advantage in the market.

Access Now: 10 Competitive Analysis Templates [Free Download]

A competitive analysis can help you learn the ins and outs of how your competition works, and identify potential opportunities where you can out-perform them.

It also enables you to stay atop of industry trends and ensure your product is consistently meeting — and exceeding — industry standards.

Let’s dive into a few more benefits of conducting competitive analyses:

  • Helps you identify your product’s unique value proposition and what makes your product different from the competitors’, which can inform future marketing efforts.
  • Enables you to identify what your competitor is doing right. This information is critical for staying relevant and ensuring both your product and your marketing campaigns are outperforming industry standards.
  • Tells you where your competitors are falling short — which helps you identify areas of opportunities in the marketplace, and test out new, unique marketing strategies they haven’t taken advantage of.
  • Learn through customer reviews what’s missing in a competitor’s product, and consider how you might add features to your own product to meet those needs.
  • Provides you with a benchmark against which you can measure your growth.

What is competitive market research?

Competitive market research focuses on finding and comparing key market metrics that help identify differences between your products and services and those of your competitors.

Comprehensive market research helps establish the foundation for an effective sales and marketing strategy that helps your company stand out from the crowd.

Next, let’s dive into how you can conduct a competitive analysis for your own company.

Competitive Analysis in Marketing

Every brand can benefit from regular competitor analysis. By performing a competitor analysis, you’ll be able to:

  • Identify gaps in the market
  • Develop new products and services
  • Uncover market trends
  • Market and sell more effectively

As you can see, learning any of these four components will lead your brand down the path of achievement.

Next, let’s dive into some steps you can take to conduct a comprehensive competitive analysis.

To run a complete and effective competitive analysis, use these ten templates, which range in purpose from sales, to marketing, to product strategy.

Featured Resource: 10 Competitive Analysis Templates

competitive analysis template report

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1. Determine who your competitors are.

First, you’ll need to figure out who you’re really competing with so you can compare the data accurately. What works in a business similar to yours may not work for your brand.

So how can you do this?

Divide your “competitors” into two categories: direct and indirect.

Direct competitors are businesses that offer a product or service that could pass as a similar substitute for yours, and that operate in your same geographic area.

On the flip side, an indirect competitor provides products that are not the same but could satisfy the same customer need or solve the same problem.

It seems simple enough on paper, but these two terms are often misused.

When comparing your brand, you should only focus on your direct competitors. This is something many brands get wrong.

Let’s use an example: Stitch Fix and Fabletics are both subscription-based services that sell clothes on a monthly basis and serve a similar target audience.

But as we look deeper, we can see that the actual product (clothes in this case) are not the same; one brand focuses on stylish everyday outfits while the other is workout-centric attire only.

Yes, these brands satisfy the same need for women (having trendy clothes delivered right to their doorstep each month), but they do so with completely different types of clothing, making them indirect competitors.

This means Kate Hudson’s team at Fabletics would not want to spend their time studying Stitch Fix too closely since their audiences probably vary quite a bit. Even if it’s only slightly, this tiny variation is enough to make a big difference.

Now, this doesn’t mean you should toss your indirect competitors out the window completely.

Keep these brands on your radar since they could shift positions at any time and cross over into the direct competitor zone. Using our example, Stitch Fix could start a workout line, which would certainly change things for Fabletics.

This is also one of the reasons why you’ll want to routinely run a competitor analysis. The market can and will shift at any time, and if you’re not constantly scoping it out, you won’t be aware of these changes until it’s too late.

2. Determine what products your competitors offer.

At the heart of any business is its product or service, which is what makes this a good place to start.

You’ll want to analyze your competitor’s complete product line and the quality of the products or services they’re offering.

You should also take note of their pricing and any discounts they’re offering customers.

Some questions to consider include:

  • Are they a low-cost or high-cost provider?
  • Are they working mainly on volume sales or one-off purchases?
  • What is their market share?
  • What are the characteristics and needs of their ideal customers?
  • Are they using different pricing strategies for online purchases versus brick and mortar?
  • How does the company differentiate itself from its competitors?
  • How do they distribute their products/services?

3. Research your competitors’ sales tactics and results.

Running a sales analysis of your competitors can be a bit tricky.

You’ll want to track down the answers to questions such as:

  • What does the sales process look like?
  • What channels are they selling through?
  • Do they have multiple locations and how does this give them an advantage?
  • Are they expanding? Scaling down?
  • Do they have partner reselling programs?
  • What are their customers’ reasons for not buying? For ending their relationship with the company?
  • What are their revenues each year? What about total sales volume?
  • Do they regularly discount their products or services?
  • How involved is a salesperson in the process?

These helpful pieces of information will give you an idea of how competitive the sales process is, and what information you need to prepare your sales reps with to compete during the final buy stage.

For publicly held companies, you can find annual reports online, but you’ll have to do some sleuthing to find this info from privately owned businesses.

You could find some of this information by searching through your CRM and reaching out to those customers who mentioned they were considering your competitor. Find out what made them choose your product or service over others out there.

To do this, run a report that shows all prospective deals where there was an identified competitor.

If this data is not something you currently record, talk to marketing and sales to implement a system where prospects are questioned about the other companies they are considering.

Essentially, they’ll need to ask their leads (either through a form field or during a one-on-one sales conversation) to identify who their current service providers are, who they’ve used in the past, and who else they are considering during the buying process.

When a competitor is identified, have your sales team dive deeper by asking why they are considering switching to your product. If you’ve already lost the deal, be sure to follow up with the prospect to determine why you lost to your competitor. What services or features attracted the prospect? Was it about price? What’s the prospect’s impression of your sales process? If they’ve already made the switch, find out why they made this decision.

By asking open-ended questions, you’ll have honest feedback about what customers find appealing about your brand and what might be turning customers away.

Once you’ve answered these questions, you can start scoping out your competitor’s marketing efforts.

4. Take a look at your competitors’ pricing, as well as any perks they offer.

There are a few major factors that go into correctly pricing your product — and one major one is understanding how much your competitors are charging for a similar product or service.

If you feel your product offers superior features compared to those of a competitor, you might consider making your product or service more expensive than industry standards. However, if you do that, you’ll want to ensure your sales reps are ready to explain why your product is worth the additional cost.

Alternatively, perhaps you feel there’s a gap in your industry for affordable products. If that’s the case, you might aim to charge less than competitors and appeal to prospects who aren’t looking to break the bank for a high-quality product.

Of course, other factors go into correctly pricing a product, but it’s critical you stay on top of industry pricing to ensure you’re pricing your product in a way that feels reasonable to prospects.

Additionally, take a look at any perks your competitors’ offer and how you might match those perks to compete. For instance, perhaps your competitors offer a major referral discount or a month-long free trial version. These perks could be the reason you’re losing customers, so if it feels reasonable for your brand, consider where you might match those perks — or provide some unique perks of your own if competitors’ don’t offer any.

5. Ensure you’re meeting competitive shipping costs.

Did you know expensive shipping is the number one reason for cart abandonment?

Nowadays, free shipping is a major perk that can attract consumers to choose one brand over another. If you work in an industry where shipping is a major factor — like ecommerce — you’ll want to take a look at competitors’ shipping costs and ensure you’re meeting (if not exceeding) those prices.

If most of your competitors’ offer free shipping, you’ll want to look into the option for your own company. If free shipping isn’t a practical option for your business, consider how you might differentiate in other ways — including loyalty programs, holiday discounts, or giveaways on social media.

6. Analyze how your competitors market their products.

Analyzing your competitor’s website is the fastest way to gauge their marketing efforts. Take note of any of the following items and copy down the specific URL for future reference:

  • Do they have a blog?
  • Are they creating whitepapers or ebooks?
  • Do they post videos or webinars?
  • Do they have a podcast?
  • Are they using static visual content such as infographics and cartoons?
  • What about slide decks?
  • Do they have a FAQs section?
  • Are there featured articles?
  • Do you see press releases?
  • Do they have a media kit?
  • What about case studies?
  • Do they publish buying guides and data sheets?
  • What online and offline advertising campaigns are they running?

7. Take note of your competition’s content strategy.

Then, take a look at the quantity of these items. Do they have several hundred blog posts or a small handful? Are there five white papers and just one ebook?

Next, determine the frequency of these content assets. Are they publishing something new each week or once a month? How often does a new ebook or case study come out?

Chances are if you come across a robust archive of content, your competitor has been publishing regularly. Depending on the topics they’re discussing, this content may help you hone in on their lead-generating strategies.

From there, you should move on to evaluating the quality of their content. After all, if the quality is lacking, it won’t matter how often they post since their target audience won’t find much value in it.

Choose a small handful of samples to review instead of tackling every single piece to make the process more manageable.

Your sampler should include content pieces covering a variety of topics so you’ll have a fairly complete picture of what your competitor shares with their target audience.

When analyzing your competitor’s content, consider the following questions:

  • How accurate is their content?
  • Are spelling or grammar errors present?
  • How in-depth does their content go? (Is it at the introductory level that just scratches the surface or does it include more advanced topics with high-level ideas?)
  • What tone do they use?
  • Is the content structured for readability? (Are they using bullet points, bold headings, and numbered lists?)
  • Is their content free and available to anyone or do their readers need to opt-in?
  • Who is writing their content? (In-house team? One person? Multiple contributors?)
  • Is there a visible byline or bio attached to their articles?

As you continue to scan the content, pay attention to the photos and imagery your competitors are using.

Do you quickly scroll past generic stock photos or are you impressed by custom illustrations and images? If they’re using stock photos, do they at least have overlays of text quotes or calls-to-action that are specific to their business?

If their photos are custom, are they sourced from outside graphic professionals or do they appear to be done in-house?

When you have a solid understanding of your competitor’s content marketing strategy, it’s time to find out if it’s truly working for them.

8. Learn what technology stack your competitors’ use.

Understanding what types of technology your competitors’ use can be critical for helping your own company reduce friction and increase momentum within your organization.

For instance, perhaps you’ve seen positive reviews about a competitor’s customer service — as you’re conducting research, you learn the customer uses powerful customer service software you haven’t been taking advantage of. This information should arm you with the opportunity to outperform your competitors’ processes.

To figure out which software your competitors’ use, type the company’s URL into Built With, an effective tool for unveiling what technology your competitors’ site runs on, along with third-party plugins ranging from analytics systems to CRMs.

Alternatively, you might consider looking at competitors’ job listings, particularly for engineer or web developer roles. The job listing will likely mention which tools a candidate needs to be familiar with — a creative way to gain intel into the technology your competitors’ use.

9. Analyze the level of engagement on your competitor’s content.

To gauge how engaging your competitor’s content is to their readers, you’ll need to see how their target audience responds to what they’re posting.

Check the average number of comments, shares, and likes on your competitor’s content and find out if:

  • Certain topics resonate better than others
  • The comments are negative, positive, or a mix
  • People are tweeting about specific topics more than others
  • Readers respond better to Facebook updates about certain content
  • Don’t forget to note if your competitor categorizes their content using tags, and if they have social media follow and share buttons attached to each piece of content.

10. Observe how they promote their marketing content.

From engagement, you’ll move right along to your competitor’s content promotion strategy.

  • Keyword density in the copy itself
  • Image ALT text tags
  • Use of internal linking

The following questions can also help you prioritize and focus on what to pay attention to:

  • Which keywords are your competitors focusing on that you still haven’t tapped into?
  • What content of theirs is highly shared and linked to? How does your content compare?
  • Which social media platforms are your target audience using?
  • What other sites are linking back to your competitor’s site, but not yours?
  • Who else is sharing what your competitors are publishing?
  • Who is referring traffic to your competitor’s site?
  • For the keywords you want to focus on, what is the difficulty level? There are several free (and paid) tools that will give you a comprehensive evaluation of your competitor’s search engine optimization.

11. Look at their social media presence, strategies, and go-to platforms

The last area you’ll want to evaluate when it comes to marketing is your competitor’s social media presence and engagement rates.

How does your competition drive engagement with their brand through social media? Do you see social sharing buttons with each article? Does your competitor have links to their social media channels in the header, footer, or somewhere else? Are these clearly visible? Do they use calls-to-action with these buttons?

If your competitors are using a social network that you may not be on, it’s worth learning more about how that platform may be able to help your business, too. To determine if a new social media platform is worth your time, check your competitor’s engagement rates on those sites. First, visit the following sites to see if your competition has an account on these platforms:

  • Facebook
  • Twitter
  • Instagram
  • Snapchat
  • LinkedIn
  • Youtube
  • Pinterest

Then, take note of the following quantitative items from each platform:

  • Number of fans/followers
  • Posting frequency and consistency
  • Content engagement (Are users leaving comments or sharing their posts?)
  • Content virality (How many shares, repins, and retweets do their posts get?)

With the same critical eye you used to gauge your competition’s content marketing strategy, take a fine-toothed comb to analyze their social media strategy.

What kind of content are they posting? Are they more focused on driving people to landing pages, resulting in new leads? Or are they posting visual content to promote engagement and brand awareness?

How much of this content is original? Do they share curated content from other sources? Are these sources regular contributors? What is the overall tone of the content?

How does your competition interact with its followers? How frequently do their followers interact with their content?

After you collect this data, generate an overall grade for the quality of your competitor’s content. This will help you compare the rest of your competitors using a similar grading scale.

12. Perform a SWOT Analysis to learn their strengths, weaknesses, opportunities, and threats

As you evaluate each component in your competitor analysis (business, sales, and marketing), get into the habit of performing a simplified SWOT analysis at the same time.

This means you’ll take note of your competitor’s strengths, weaknesses, opportunities, and threats any time you assess an overall grade.

Some questions to get you started include:

  • What is your competitor doing well? (Products, content marketing, social
  • Where does your competitor have the advantage over your brand?
  • What is the weakest area for your competitor?
  • Where does your brand have the advantage over your competitor?
  • What could they do better with?
  • In what areas would you consider this competitor a threat?
  • Are there opportunities in the market that your competitor has identified?

You’ll be able to compare their weaknesses against your strengths and vice versa. By doing this, you can better position your company, and you’ll start to uncover areas for improvement within your own brand.

 

Competitive Product Analysis

Product analysis drills down to discover key differences and similarities in products that share the same general market. This type of analysis if you have a competitor selling products in a similar market niche to your own – you want to make sure that wherever possible, you aren’t losing market share to the competition.

Leveraging the example above, we can drill down and discover some of the key differentiators in product offerings.

Step 1: Assess your current product pricing.

The first step in any product analysis is to assess current pricing.

Nintendo offers three models of its Switch console: The smaller lite version is priced at $199, the standard version is $299, and the new OLED version is $349.

Sony, meanwhile, offers two versions of its Playstation 5 console: The standard edition costs $499 and the digital version, which doesn’t include a disc drive, is $399.

Step 2: Compare key features

Next is a comparison of key features. In the case of our console example, this means comparing features like processing power, memory, and hard drive space.

Feature

PS5 Standard

Nintendo Switch

Hard drive space

825 GB

32 GB

RAM

16 GB

4 GB

USB ports

4 ports

1 USB 3.0, 2 USB 2.0

Ethernet connection

Gigabit

None

Step 3: Pinpoint differentiators

With basic features compared, it’s time to dive deeper with differentiators. While a glance at the chart above seems to indicate that the PS5 is outperforming its competition, this data only tells part of the story.

Here’s why: The big selling point of the standard and OLED Switch models is that they can be played as either handheld consoles or docked with a base station connected to a TV. What’s more, this “switching” happens seamlessly, allowing players to play whenever, wherever.

The Playstation offering, meanwhile, has leaned into market-exclusive games that are only available on its system to help differentiate them from their competitors.

Step 4: Identify market gaps

The last step in a competitive product analysis is looking for gaps in the market that could help your company get ahead. When it comes to the console market, one potential opportunity gaining traction is the delivery of games via cloud-based services rather than physical hardware. Companies like Nvidia and Google have already made inroads in this space and if they can overcome issues with bandwidth and latency, it could change the market at scale.

Competitive Analysis Example

How do you stack up against the competition? Where are you similar, and what sets you apart? This is the goal of competitive analysis. By understanding where your brand and competitors overlap and diverge, you’re better positioned to make strategic decisions that can help grow your brand.

Of course, it’s one thing to understand the benefits of competitive analysis, and it’s another to actually carry out an analysis that yields actionable results. Don’t worry – we’ve got you covered with a quick example.

Sony vs. Nintendo: Not all fun and games

Let’s take a look at popular gaming system companies Sony and Nintendo. Sony’s newest offering – the Playstation 5 – recently hit the market but has been plagued by supply shortages. Nintendo’s Switch console, meanwhile, has been around for several years but remains a consistent seller, especially among teens and children. This scenario is familiar for many companies on both sides of the coin; some have introduced new products designed to compete with established market leaders, while others are looking to ensure that reliable sales don’t fall.

Using some of the steps listed above, here’s a quick competitive analysis example.

1. Determine who your competitors are.

In our example, it’s Sony vs Nintendo, but it’s also worth considering Microsoft’s Xbox, which occupies the same general market vertical. This is critical for effective analysis; even if you’re focused on specific competitors and how they compare, it’s worth considering other similar market offerings.

2. Determine what products your competitors offer.

Playstation offers two PS5 versions, digital and standard, at different price points, while Nintendo offers three versions of its console. Both companies also sell peripherals – for example, Sony sells virtual reality (VR) add-ons while Nintendo sells gaming peripherals such as steering wheels, tennis rackets, and differing controller configurations.

3. Research your competitors’ sales tactics and results.

When it comes to sales tactics and marketing, Sony and Nintendo have very different approaches.

In part thanks to the recent semiconductor shortage, Sony has driven up demand via scarcity – very low volumes of PS5 consoles remain available. Nintendo, meanwhile, has adopted a broader approach by targeting families as their primary customer base. This effort is bolstered by the Switch Lite product line, which is smaller and less expensive, making it a popular choice for children.

The numbers tell the tale: Through September 2021, Nintendo sold 14.3 million consoles, while Sony sold 7.8 million.

4. Take a look at your competitors’ pricing, as well as any perks they offer.

Sony has the higher price point: Their standard PS5 sells for $499, while Nintendo’s most expensive offering comes in at $349. Both offer robust digital marketplaces and the ability to easily download new games or services.

Here, the key differentiators are flexibility and fidelity. The Switch is flexible – users can dock it with their television and play it like a standard console, or pick it up and take it anywhere as a handheld gaming system. The PS5, meanwhile, has superior graphics hardware and processing power for gamers who want the highest-fidelity experience.

5. Analyze how your competitors market their products.

If you compare the marketing efforts of Nintendo and Sony, the difference is immediately apparent: Sony’s ads feature realistic in-game footage and speak to the exclusive nature of their game titles; the company has managed to secure deals with several high-profile game developers for exclusive access to new and existing IPs.

Nintendo, meanwhile, uses brightly-lit ads showing happy families playing together or children using their smaller Switches while traveling.

6. Analyze the level of engagement on your competitor’s content.

Engagement helps drive sales and encourage repeat purchases. While there are several ways to measure engagement, social media is one of the most straightforward: In general, more followers equates to more engagement and greater market impact.

When it comes to our example, Sony enjoys a significant lead over Nintendo: While the official Playstation Facebook page has 38 million followers, Nintendo has just 5 million.

Competitive Analysis Templates

Competitive analysis is complex, especially when you’re assessing multiple companies and products simultaneously. To help streamline the process, we’ve created 10 free templates that make it possible to see how you stack up against the competition – and what you can do to increase market share.

Let’s break down our SWOT analysis template. Here’s what it looks like:

competitive analysis template fro SWOTDownload Free Templates

Strengths – Identify your strengths. These may include specific pieces of intellectual property, products that are unique to the market, or a workforce that outperforms the competition.

Weaknesses – Here, it’s worth considering potential issues around pricing, leadership, staff turnover, and new competitors in the market.

Opportunities – This part of the SWOT analysis can focus on new market niches, evolving consumer preferences, or new technologies being developed by your company.

Threats – These might include new taxes or regulations on existing products or an increasing number of similar products in the same market space that could negatively affect your overall share.

How Does Your Business Stack Up?

Before you accurately compare your competition, you need to establish a baseline. This also helps when it comes time to perform a SWOT analysis.

Take an objective look at your business, sales, and marketing reports through the same metrics you use to evaluate your competition.

Record this information just like you would with a competitor and use this as your baseline to compare across the board.

Editor’s Note: This post was originally published prior to July 2018 but has been updated for comprehensiveness.

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How to Write YouTube Titles for SEO

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How to Write YouTube Titles for SEO

Creating a video is a creative process which involves a lot of brainstorming, editing and producing. But the success of your video does not 100% rely on the quality or originality of that video.

Whether your video is going to be a success is determined by how many people will be able to find it and watch it.

Don’t underestimate the discoverability of your video. It may make or break your whole video marketing strategy performance.

One of the biggest channels that can drive findability of your video is search engine optimization, i.e. optimizing your video page for it to rank in search engines (mainly Google and Youtube search) for relevant keywords.

And one of the most important SEO elements of any page is its title.

What is a Youtube title?

“Title” is what you see on the browser tab when you open any Youtube page:

It is controlled by the “Title” field which is required when you upload your video to Youtube:

In the code of the page the title can be found within <title></title> tags.

On a Youtube video page, the title is also repeated underneath the video as the main heading making it also an on-page SEO element.

Youtube allows you to enter up to 100 characters to the title field and I recommend making the most of those 100 characters.

How can titles impact the findability of your video?

Page titles are key on-page SEO elements because they do both:

  • Page titles are direct ranking factors (Google uses them to understand what the page is about)
  • Page titles impact click-through by being the most visible parts of standard search snippets.

In that respect, Youtube SEO is not much different from any other types of SEO. The only slight difference is Youtube videos also get an additional section in organic results which you can target: Page titles are also included next to video thumbnails in video carousels:

Since titles are so important for your video findability and clickability, spend some extra time brainstorming effective video titles. Here are a few ideas:

How to create an effective Youtube title

1. Include your keyword

This is important in the context of this article. Keywords are still very important for SEO because they still help search engines understand the main topic of your page.

Keyword research is also a great way to estimate a demand for any topic (by looking at the search volume).

Identifying your main keyword and including it into the page title will help that video page rank for that keyword driving views for your video and generating additional brand visibility to your business. There are lots of tools and plugins allowing you to identify your target keywords.

It is a good idea to grab URLs of your competing videos and run them through this SEO Content Checker to identify their keyword usage and learn from that:

2. Make it sound interesting

I know it sounds obvious but there are too many boring video titles for me not to mention it.

Your video title needs to invite a click, so make sure it is interesting enough to invite one.

I realize it sounds easier than it really is and in many cases it is also highly subjective. But there’s a tool to help.

Using ChatGPT will help you find some ideas, in case you are stuck. Here’s what the tool was able to generate when I requested the following “Generate video title ideas that will include “Youtube marketing” keyword. Make those titles sound intriguing:”

There are quite a few pretty nice ones. If you don’t like what the tool suggested, keep asking it for more, changing your request just a bit to make it think harder.

This tool is great but make sure to pick a title that won’t over-promise. There’s a fine line between “intriguing” and “click-baiting.” Try and avoid the latter as it may reflect badly on your branding strategies.

3. Include numbers

Including a number in your page title has proven to be an effective way to get more people to click it. Click-through is likely to be an (indirect) ranking factor, so if more people click your title, there’s a good chance it will rank higher.

You cannot make each of your videos a listicle though, so you won’t be able to use this trick in each of your Youtube titles. But it is a good format to keep in mind and use from time to time.

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4. Mention a brand (if there’s one to mention)

Finally, if your video is about a well-known brand (for example, if that video is of you speaking at an event) or, more importantly, if you create it in collaboration with a well-known expert and/or influencer, include that name in your title.

Not only will it help your video rank for that searchable name, it will also increase its click-though thanks to people recognizing that name. 

Youtube also allows you to tag that name in the title (much like tagging works on Twitter or Facebook). If you add @ and then start typing that name, Youtube will allow you to select that name from the drop-down (if that brand or person has a Youtube channel). This will notify them on the mention and urge them to engage with the video helping its visibility:

No need to include your brand name though (unless that video is all about you or your company). If you pick your Youtube name well, it will help you build your brand’s recognizability with every high-ranking video because the channel name is always included in search snippets.

Keep a close eye on your results

Finally, creating an effective title is something that you can never do perfectly. There’s always room for improvement and experimentation. Learn from other well-performing videos in your or outside your niche and never stop experimenting.

Monitor video carousels for your important keywords to get notified when a new video succeeds in getting there and not what may have brought them that success. There are SEO monitoring tools that can help you with that task:

Additionally, keep a close eye on your Youtube analytics to monitor keywords that generate views from Youtube search and learn from those results:

Slutsats

You spend hours creating your video. It deserves a good title which will help your video get found. Spend some time brainstorming an effective title, experiment with different formats and measure your success. Good luck!



The post How to Write YouTube Titles for SEO appeared first on DigitalMarketer.

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Amazon Announces Auction System for FBA Storage Space [What Sellers Need to Know]

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Amazon Announces Auction System for FBA Storage Space [What Sellers Need to Know]

Amazon’s FBA program is a tremendous asset for brands who sell products on the platform. With FBA, retailers can outsource the heavy lifting of logistics such as warehousing, fulfillment, and distribution for a fee. In the last few years, sellers have expressed the need for more capacity, predictability, and control over their inventory. Amazon’s recent update helps sellers tackle those challenges and so much more.

Amazon just announced a new streamlined FBA capacity management system that will go into effect on March 1, 2023. With this new system in place, Amazon FBA will be turned into an auction where sellers can bid for additional storage space.

The system will now incorporate a single, month-long FBA capacity limit rather than weekly restock limits that can make inventory planning challenging for sellers. Now, capacity limits for the upcoming month will be announced in the third full week of each month via the Capacity Monitor in Seller Central and email notification. According to Amazon, the majority of sellers will now have access to greater capacity volumes than before.

With this new update, Amazon also announced they will provide estimated limits for the following two months to help sellers plan over a longer period. In a recent blog post highlighting the announcement, Dharmesh Mehta, Vice President of Amazon Worldwide Selling Partner Services stated, “We will forecast how much space and labor we expect to have to provide these estimates, but these estimates may vary up or down based on how efficiently sellers are using their capacity, as measured by the Inventory Performance Index (IPI) score.”

With the new Capacity Manager in place, sellers will also be able to request additional capacity based on a reservation fee that they specify. Mehta noted…

“Requests are granted objectively, starting with the highest reservation fee per cubic foot until all capacity available under this program has been allocated. When additional capacity is granted, sellers’ reservation fees are offset by earning performance credits from the sales they generate using the extra capacity. Performance credits are designed to offset up to 100% of the reservation fee, so sellers don’t pay for the additional capacity as long as their products sell through.

 

Our goal is to provide sellers with more control over how much space they can have while limiting unproductive use. We’ve piloted this feature with certain US sellers, and we’re excited that with this launch, we will expand it so all sellers can request higher FBA capacity limits.”

 

The recent announcement also highlighted how Amazon will set capacity limits and measure sellers’ inventory usage in cubic feet (vs. number of units), which better represents the capacity sellers’ products use in our fulfillment centers and transportation vehicles. As many sellers prefer to plan in units, Amazon will continue to show inventory usage in units but will also provide an estimate of how many units specific cubic volume capacity limits are likely to permit.

 

Tinuiti’s Take on the New FBA Capacity System

 

Change is certainly on the horizon. Let’s hear from Tinuiti’s own Bjorn Johnson on tips for how you can prepare for the FBA change coming March 1st.

“These changes are likely to be impactful, especially to sellers with larger products. Amazon reverting to cubic foot-based storage limits is likely to reintroduce previous issues for these clients in maintaining healthy inventory levels. Their difficulties look to be exacerbated by the addition of the bidding system. In order to keep their already high-fulfillment-fee products in stock, they’ll need to bid on large amounts of space. On the other hand, sellers with smaller products are likely to be able to store more units than before, and have the flexibility to bid on smaller amounts of space. The decision from Amazon looks like a clear effort to encourage small, light, easy-to-ship and fulfill products.”

– Bjorn Johnson, Operations Manager at Tinuiti

 

Want to Learn More About the New Auction System for FBA Storage Space?

 

We will continue to keep you informed as we learn more about the new FBA capacity system. If you’re interested in learning more about our Amazon offerings or if you have any questions concerning FBA, contact us today.

 

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How to optimize your online forms and checkouts

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How to optimize your online forms and checkouts



Forms are probably the most important part of your customer journey. They are the final step where the user entrusts you with their precious personal information in exchange for the goods or services you’ve promised.

And yet, too many companies spend minimal time on making sure their form experience is a good one for their users. They don’t use data to establish where the UX problems are on their forms, and they don’t run form-specific experiments to determine how to improve their conversion rate. As a result, too many forms are unnecessarily driving potential customers away, burning potential revenue and leads that could have been converted if they had only spent a little time and effort on optimization. Two-thirds of people who start a form don’t go on to complete it, meaning that a lot of money is being left on the table.

This article contains some of our top tips to help optimize your forms + checkouts with the goal of improving their conversion rate and delivering more customers and leads.

Use data to identify your problem fields

While user testing and session replay tools are useful in identifying possible form issues, you should also be using a specialist form analytics tool, as this will allow you to quantify the scale of the problem – where are most people dropping out – and prioritize improvements accordingly. A good form analytics tool will have advanced insights that will help work out what the problem is as well, giving you a head start on creating hypotheses for testing.

A/B test your forms

We’ve already mentioned how important it is to nurture your forms like any other part of your website. This also applies to experimentation. Your A/B testing tool such as Optimizely should allow you to easily put together a test to see if your hypothesis will improve your conversion rate. If there is also an integration with your form analytics tool you should then be able to push the test variants into it for further analysis.

Your analytics data and user testing should guide your test hypothesis, but some aspects you may want to look at are:

  • Changing the error validation timing (to trigger upon input rather than submission)
  • Breaking the form into multiple steps rather than a single page
  • Removing or simplifying problem fields
  • Manage user expectations by adding a progress bar and telling them how long the form will take upfront
  • Removing links to external sites so they are not distracted
  • Re-wording your error messages to make them more helpful

Focus on user behavior after a failed submission

Potential customers who work their way through their form, inputting their personal information, before clicking on the final ‘Submit’ button are your most valuable. They’ve committed time and effort to your form; they want what you are offering. If they click that button but can’t successfully complete the form, something has gone wrong, and you will be losing conversions that you could have made.

Fortunately, there are ways to use your form data to determine what has gone wrong so you can improve the issue.

Firstly, you should look at your error message data for this particular audience. Which messages are shown when they click ‘Submit? What do they do then? Do they immediately abandon, or do they try to fix the issue?

If you don’t have error message tracking (or even if you do), it is worth looking at a Sankey behavior flow for your user’s path after a failed submission. This audience will click the button then generally jump back to the field they are having a problem with. They’ll try to fix it, unsuccessfully, then perhaps bounce back and forth between the problem field a couple of times before abandoning in frustration. By looking at the flow data, you can determine the most problematic fields and focus your attention there.

Microcopy can make the checkout experience less stressful

If a user is confused, it makes their form/checkout experience much less smooth than it otherwise could be. Using microcopy – small pieces of explanatory information – can help reduce anxiety and make it more likely that they will complete the form.

Some good uses of microcopy on your forms could be:

  • Managing user expectations. Explain what information they need to enter in the form so they can have it on hand. For example, if they are going to need their driver’s licence, then tell them so.
  • Explain fields. Checkouts often ask for multiple addresses. Think “Current Address”, “Home Address” and “Delivery Address”. It’s always useful to make it clear exactly what you mean by these so there is no confusion.
  • Field conditions. If you have strict stipulations on password creation, make sure you tell the user. Don’t wait until they have submitted to tell them you need special characters, capital letters, etc.
  • You can often nudge the user in a certain direction with a well-placed line of copy.
  • Users are reluctant to give you personal information, so explaining why you need it and what you are going to do with it is a good idea.

A good example of reassuring microcopy

Be careful with discount codes

What is the first thing a customer does if they are presented with a discount code box on an ecommerce checkout? That’s right, they open a new browser tab and go searching for vouchers. Some of them never come back. If you are using discount codes, you could be driving customers away instead of converting them. Some studies show that users without a code are put off purchasing when they see the discount code box.

Fortunately, there are ways that you can continue to offer discount codes while mitigating the FOMO that users without one feel:

  • Use pre-discounted links. If you are offering a user a specific discount, email a link rather than giving them a code, which will only end up on a discount aggregator site.
  • Hide the coupon field. Make the user actively open the coupon box rather than presenting them with it smack in the middle of the flow.
  • Host your own offers. Let every user see all the offers that are live so they can be sure that they are not missing out.
  • Change the language. Follow Amazon’s lead and combine the Gift Card & Promotional Codes together to make it less obvious.

An example from Amazon on how to make the discount code field less prominent

Get error messages right

Error messages don’t have to be bad UX. If done right, they can help guide users through your form and get them to commit.

How do you make your error messages useful?

  • Be clear that they are errors. Make the messages standout from the form – there is a reason they are always in red.
  • Be helpful. Explain exactly what the issue is and tell the user how to fix it. Don’t be ambiguous.

Don’t do this!

  • Display the error next to the offending field. Don’t make the user have to jump back to the top of the form to find out what is wrong.
  • Use microcopy. As noted before, if you explain what they need to do early, they users are less likely to make mistakes.

Segment your data by user groups

Once you’ve identified an issue, you’ll want to check whether it affects all your users or just a specific group. Use your analytics tools to break down the audience and analyze this. Some of the segmentations you might want to look at are:

  • Device type. Do desktop and mobile users behave differently?
  • Operating system. Is there a problem with how a particular OS renders your form?
  • New vs. returning. Are returning users more or less likely to convert than first timers?
  • Do different product buyers have contrasting expectations of the checkout?
  • Traffic source. Do organic sources deliver users with higher intent than paid ones?

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Om författaren

Alun Lucas is the Managing Director of Zuko Analytics. Zuko is an Optimizely partner that provides form optimization software that can identify when, where and why users are abandoning webforms and help get more customers successfully completing your forms.


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