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Why Is Competitive Research Significant In Digital Marketing

In this article, we will discuss every aspect of competitive research as a fundamental process in digital marketing.

Published

2 years ago

November 24, 2021

TwinzTech

Today, businesses have a lot of competition in the market. Identifying your competitors and keeping track of every move is very crucial for the organization. Here competitive research plays an essential role for businesses willing to understand digital marketing from their competitor’s point of view.

Through the most downloaded apps for analyzing competition, you are updated about your competitors and their mistakes to avoid implementing them in your business. Therefore, they use the tool for enterprises to solely empower the way of understanding the industry, identifying the pros and cons of the particular processes, and determining the solution for filling the gaps to obtain better outcomes.

In this article, we will discuss every aspect of competitive research as a fundamental process in digital marketing.

Importance Of Competitive Research In Digital Marketing

The working of your competitors digitally can not be overlooked today since it is the key to setting up digital marketing strategies. Thus, with advancements in digital marketing, analyzing competitors helps the organization gain multiple advantages and considerable outcomes. The importance of competitive research in digital marketing include:

Table of Contents

1. Comparing Yourself With The Competitors

When you analyze your competitors, you compare your business with that of competitors. There are different types of competitors in the market like:

7 Must-Have Digital Marketing Tools For Your Small Business

Direct Competitors: The one that deals with similar products and services like yours has the same target market and customer base and looks for similar profit-making strategies. It helps you determine every move of the direct competitors for your business.

Indirect Competitors: Indirect competitors offer similar products and services and have distinct objectives for their business. It allows you to look for new ideas and implement them in your business for better outcomes.

Substitute Competitors: They are the competitors who also provide similar products and services like direct competitors.

When you compare your business with these competitors, you get an idea of making your business stand out from them. Researching your competitors proved to be extremely useful in these circumstances.

2. Examining Broader Results

Competitive Analysis provides you the information about well-established brands with a considerable online presence in the market. This way, you get transparent about running your business and what is required to make your business stand in the market with these well-established companies.

3. Better Understanding Of The Market

When you adopt competitive research to grow your business in the market, you tend to get information about the latest trends occurring in the marketplace. Information about the latest trends and future events proved to be the most valuable asset for the business. It allows you to provide the customer with appropriate products or services and build a relationship with them for the long run.

4. Goal Determination

Inspecting the strategy of your competitors provides you with a clear picture of the social presence of the competitors. By reviewing their profile, the content they posts, and the reviews they get from the customers, you can build a competitive goal for your business.

Benefits of Digital Marketing

5. Improvement In Marketing Processes

When new products or services are introduced in the market, the customers are concerned about the impact of the product on their lives. It assists you in understanding the behavior of their customers and gives you a closer view of your competitors’ marketing strategies. This way, you can adjust your marketing approach, win your customers, and even add new ones.

6. Creating A Business Plan

When you get the information concerning your competitors, market performance, and the latest trends, you create a sturdy business plan for your future success.

7. Discovering Gaps

With the help of competitive research, you can identify potential gaps in the market. These gaps can be concerned with the place where no competitors have served yet. Thus, you can grab the opportunity, fill in the gaps, and acquire a new market for your business.

Conclusion

Competitive Research is performed once a quarter or once a year, based on your industry’s changing trends and rules. It allows the business to react to their discoveries and measure their progress.

You can always stay ahead of your competitors and save your business from getting lost in the crowd in the ever-changing environment. by enabling precise competitive research.

Digital Marketing

What Are Privacy-Friendly Website Analytics Tools?

I have listed the top 5 privacy-friendly website analytics tools that will help you evaluate your website better and safely without getting concerned about data theft or your security.

Published

6 months ago

November 23, 2022

TwinzTech

With the increasing dependence on technology, the concern of online data breaches and fraud relating to personal data is also increasingly bothering internet users.

Though many web analytics tools are available in the industry, they are a bit complicated and privacy-invasive. Regarding facial recognition, personal data, and location tracking, the privacy concern list is too long. The same concern goes for online website analytics tools.

It’s essential to choose a web analytic tool that is privacy-friendly as well as hassle-free to use. This article lists the top web-analytics tools that offer analytics services without invading users’ privacy.

Let’s begin!

Table of Contents

A. How are Privacy-Friendly Website Analytic Tools Important?

Here are the top reasons to opt for a privacy-safe website analytic tool:

Ensures you keep your data safe: Before using your data, these web analytics tools ask for your consent, and even after the consent, the control is in the hands of the user.
Offers transparent data collection and processing: Private-safe web analytics tools are transparent about where your personal information is stored and how they use it, which minimizes the chances of data misuse.
Provides data security and protection: Privacy-friendly analytics tools minimize the risk of data leaks and breaches, prevent malicious attacks, and protect your data from human errors. They safeguard your data from unauthorized access, corruption, and online theft.

B. Top 5 Privacy-Friendly Websites Analytic Tools

Here are the top 6 privacy-friendly web analytic tools:

1. Fathom

Fathom is a privacy-focused Google Analytics

Fathom is a privacy-focused Google Analytics alternative that helps you make better business decisions and understand your web visitors better to generate leads and more sales without compromising your privacy.

They have a simple UTM builder to create and track campaigns to increase traffic. Fantom also offers uptime monitoring for free.

Top Features:

Provides real-time website insights
Compliances with GDPR and cookie directive
Offers to track files through super fast CDN
Offers to track goals like specific pages or clicks, newly signed-up email lists, and more
Provides shareable dashboards and password-protected links

Plan:

Free trial and all the plans include up to 50 sites, uptime monitoring, ad-blocker bypassing, and unlimited email reports.
Fantom paid plans start at $14/month with up to 100,000 monthly page views.

2. Finteza

Finteza is a comprehensive web analytics tool

Finteza is a comprehensive web analytics tool that tracks and analyzes your website traffic, sales funnel, conversions, landing pages, and advertising campaigns by keeping your privacy safe.

Top Features:

Offers detailed traffic analysis
Uses special tools for webmasters
Offers optimization of conversion rate
Provides smooth data export feature
Identifies referral sources
Tracks real-time traffic sources

Plans:

Finteza’s analytical service plan costs around 10 EUR per 100,000 unique visitors.
Their advertising engine plan is priced at 4 EUR per 100,000 ad zone impressions.

3. Plausible

Plausible is an open-source web analytics

Plausible is an open-source web analytics with no cookies and fully compliant with GDPR, CCPA, and PEC designed in Europe owned by cloud infrastructure. It is one of the top Google Analytics alternatives.

Top Features:

Reduces your cookie banners
Provides shareable links to statistics
Offers password protection feature for shareable links
Provides seamless integration with WordPress, Wix, Weebly, Squarespace, Ghost, Google, and many more.

Plan:

Plausible pricing starts at $9/ monthly pageviews, which includes 50 websites, custom events, email/slack reports, unlimited data retention, 100% data ownership, and unlimited team members.
You will have to pay for services according to your need for monthly pageviews.

4. SimpleAnalytics

Simple Analytics is a privacy-first web analytic tool

Simple Analytics is a privacy-first web analytic tool that encrypts your data and provides no cookie banners for your visitors.

Their business model is based on privacy protection and complies with all privacy policies, including GDPR, PECR, CCPA, and many more.

It shows you crucial website data such as total viewed pages, referrers, number of page views, screen sizes, and more to better your customer experience.

Top Features:

Provides a smooth and straightforward interface
Offers analytics report directly to your email
Shows you the original traffic-driving referrer tweet
Bypasses Ad blockers
Provides easy accessibility to export data in CSV files or aggregates with JSON API
Offers two modes of operation, i.e., dark mode and light mode

Plans:

Simple Analytics basic plans start at $9/month with 100,000 data points per month, a single user, ten websites, and aggregated reports.
Their business plan costs $49/month, allowing ten users, 100 websites, and basic level export.
Simple Analytics offers enterprise plans that cost around $99/month, allowing more than ten users, 100+ websites, and faster email support.

5. Insights

Insights is a privacy-safe web analytics

Insights is a privacy-safe web analytics and easy-to-use tool for developers. They provide faster-loading speed, page views tracking, and anonymous event tracking for your website to gather as much insight about your brand performance as possible.

Top Features:

Provides you with a customizable script that refrains you from navigating through multiple reports and pages
Offers faster performance in terms of page loading speed
Displays page statistics such as page visits, bounce rates, scrolling rate, and session time without saving your IP data, personal information, and cookies
Offers transparent services by entering open-source Insights.js code on Github, and you can also view data they collect from your website

Plans:

Insights offer a free plan that includes up to 3k events or page views per month.
Their paid plan starts from $12/month, which allows up to 100k events or page views.
Insights offer their startup plan costing $29/month, allowing up to 1 million events or page views.
Their business plans cost around $79/month, which allows 10 million events and page views.

Final Thoughts

Privacy concerns are increasingly growing all around the world. Privacy-safe analytics tools help you analyze your business numbers better without worrying about your personal and visitors’ data breach.

I have listed the top 5 privacy-friendly website analytics tools that will help you evaluate your website better and safely without getting concerned about data theft or your security.