Designing a data-driven messaging strategy based on competitor insights
Tactics to increase competitive win rate
15 seconds. That’s all you get to capture the attention of website visitors. How do you use this valuable time on your website to stand out from the competition? Sure graphics are important, but bold messaging gives your product a fighting chance.
Product messaging should be the heart of your online strategy; demonstrating the unique value your company offers will win deals every time. Unfortunately, many companies spend all their time on product development and leave product messaging as an afterthought.
After spending so much time developing your product you may be tempted to focus on features. Don’t! Good product messaging is never a feature list. Instead, you need to show your audience that you understand their needs and can solve their unique problem by providing solid benefits. Features don’t make an impact if they don’t provide benefits. Benefits create value, and customers buy value.
Crafting messaging that performs in your industry doesn’t have to be a game of trial and error. Now, you can save time and find what works faster. Automated competitive analysis software, such as Kompyte, can be used to quickly optimize your website messaging!
Track your Competition’s Product Pages & Key Sales Messaging
Identify your top competitors then input their key pages into the platform. Take a look at your competition’s product & solution pages, as well as their sales materials.
Pay close attention to your oldest competitors. They’ve had more time to discover messaging that works in your industry and the most effective tactics to communicate with customers. Understand how they present their products and learn which audience you should be targeting.
Identify Messaging Changes
It’s important to take a look at your competitor’s messaging changes, not only to determine new ideas to test, but also to analyze what your prospects are hearing from the rest of the market. Tracking the rest of the industry can help you further differentiate yourself from the competition.
Keeping tabs on your competition’s messaging is especially helpful if they’ve changed their product strategy or product positioning. You can then decide if you should extend your product offerings or just update your messaging to pursue this new target audience. If you’re watching closely, competitors can teach you the best practices and show you which mistakes to avoid.
Alternatively, you can automate messaging data collection. The Kompyte platform automatically gathers page changes and new insight for you. The Timemachine feature provides a ‘before’ and ‘after’ view of changes made to each competitor’s website. You can compare and contrast multiple older versions with the current versions of your competitors’ sites. This process will help you identify any A/B tests for messaging or calls to action you’d like to try.
Next, take a look at their ads. You can learn what kinds of copy find success in your industry by reviewing the ads that have come out on top in A/B tests. You may also be able to determine additional focus demographics based on the keywords your competitors choose.
Test & Experiment
Once you’ve collected some ideas, start testing! Make changes to page messaging and sales materials based on the insights you’ve collected. Continue testing iterations until your webpage features stand out and your target market responds.
Calculate the ROI
Keep an eye on your website conversion rate and take note of the impact your messaging changes have made based on the competitor insight you’ve put to use.
You can measure any increase in your sales conversion rate based on changes in your sales pitch.
Calculating the impact at the end of your sales funnel will demonstrate the importance of competitive intelligence.
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