The ability to reach consumers on the channels of their choice with the right message, at the right time, and in the right place has created a huge opportunity for marketers. According to eMarketer, digital ad spending is forecasted to reach almost $100 billion in North America alone in 2018.
With online advertising showing no signs of slowing down, it’s imperative that marketers take full advantage of one of digital’s most valuable assets: measurability. Marketers are accessing levels of granularity in their data that they never had before– whether at the media, site, or 1:1 consumer level. But what about at the competitive level?
Any well rounded marketing strategy will take a holistic view of the market and take the competition into account. It’s a crucial element in answering the questions “what does success look like?” and “how can we improve?” Luckily, there’s a wealth of innovative technologies that specialize in assessing competitive performance so marketers don’t have to resort to manually mining data.
And of course, once the data has been generated, it needs to be integrated, harmonized, analyzed and visualized. That’s why we added a competitive data section to Datorama Mix, our dynamic marketing data model, for even more comprehensive analysis.
Monitor the competition, analytically
The competitive data section stores competitors’ data alongside your own, so you can compare any metrics drawn from a public social APIs, SEO rank platforms, website domain authority solutions, or any other type of competitive data that put your performances, outcomes and investments into context.. An array of connectors have fields that map to the competitive data section, like the Facebook Public API for social data, SEMRush for SEO and SEM analysis or SimilarWeb for web analytics. Plus you can add any additional competitive sources you like through the magic of Datorama TotalConnect. Pulling competitor data into Datorama allows you to view yours and your competitors’ metrics side by side, so you can track how your company is pacing comparatively– and learn what’s working and what’s not for your market peers.
For example, if you are the University of Metropolis, your competitors might be Gotham College and Central City Academy. Let’s say social is a key channel for attracting and engaging new prospective students. Your social data will be retrieved from different vendors, like Facebook Social, and mapped using the ‘Social’ data stream type. Your competitors’ data will be retrieved using public data providers, like Facebook Public, and mapped using the ‘Competitive’ data stream type. This way the page likes for Gotham College and Central City Academy will not be mapped to the same Measurement as the University of Metropolis page likes.
Competitive data API connectors
In addition to our competitive data section of the data model, we’re excited to feature three API connectors that can contribute specifically to your competitive data analyses in Datorama:
SEMRush provides valuable organic search ranking and competitive ranking data for SEO and search benchmarking. With this API you can easily integrate your search marketing data alongside your competitors’ to visualize search volumes, position rankings, traffic % and more.
With the our Facebook Competitive Data API, you can leverage valuable public data about your competitors’ page and post performances in the context of your own Facebook data. With this connector, you will gain strategic insights, identify opportunities and benchmark your performances quickly and easily. This powerful connector is the perfect complement to additional API connectors for Facebook Post Insights, Page insights, Ads and Atlas.
SimilarWeb gives marketers valuable insights into their competitors’ web analytics performances. By connecting this data with your own web analytics in Datorama, you can benchmark your performance against competitors, understand their strategy, discover new traffic and lead sources, identify trends and spot audience overlaps and opportunities. It’s a valuable competitive resource to help you make smarter decisions across all your data.
And of of course, you can add any of your other competitive sources too using TotalConnect.
With competitive data, you can make sure you’re on pace with your competitors and the overall market. See what competitors are focusing on in terms of platforms or growth, and gain more clarity into the next trends in growth metrics and where the marketing and online advertising industries are headed.
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