When you are managing an email marketing campaign for your own company or the company of a client, it is imperative that you are aware of the strategies that other companies in your industry are employing.
For example, how often do your competitors send marketing emails, what kind of emails do they send, and how does their email copy look?
When you understand this, you’ll be able to use it as a source of inspiration for future efforts.
Along with that, it provides you with suggestions for what might be most effective in your sector.
Let’s take a quick look at email list development before moving on to learning about competitor analysis. To make sure you have a strong audience list, this is crucial.
Pro tip: How to find B2B email addresses
What’s the use of having amazing content and knowing exactly who you want to share it (your B2B audiences) with if you don’t have their email address?
Many companies and marketers do not know how to find B2B email addresses and consider it as one of their major challenges.
People who are up to date on the latest technologies and methods, however, need not endure suffering.
There are email search engines that use artificial intelligence algorithms to quickly find email addresses.
GetEmail.io is one such tool.
Steps to conduct competitor analysis
Now let us take a look at how to conduct a competitor analysis.
Step 1: Signup for your competitor’s email newsletters
To subscribe to the email newsletters of your rivals, you can make a fresh, generic email account.
By doing this, you may ensure that your rivals are unaware that you are eavesdropping on their email marketing tactics.
After you have registered with them, you will immediately begin receiving email correspondence from them.
You must now evaluate the date and time of their delivery, the CTA, the design of the email template, the subject lines, the degree to which it is tailored, and the frequency.
Step 2: How do their emails look?
Email marketing has a strong emphasis on design since it has an effect on the subconscious mind.
It has a great deal to do with psychological study. As you are aware that design is the determining factor in whether or not a prospect reads or scrolls through your email, it is essential that you comprehend their design strategy.
Although it goes without saying that you should never plagiarize another person’s ideas, observing what is currently in existence might help you identify market gaps and suggest ways to close them.
Start by examining how the email’s content is set up.
Is it clear and uncomplicated? Do they make use of visual components like images or videos? What is the copy’s length? What matters most is whether any of these strategies can advance your own campaigns just a little bit.
If your rival, for example, heavily relies on images, you might want to consider using an illustrated style instead. You might also add photographs, but focus on what your target audience is likely to be interested in.
Step 3: Learn about your competitors’ offers?
Why do companies bother sending emails to the people who buy their products or services?
One of the primary motivations for doing so is to keep their clients informed about ongoing deals and promotions that are currently being offered.
Therefore, it is imperative that you monitor what your opponents are sending to their clients, as they may be driving your customers or target audiences towards their brand by giving better discounts and more sales.
Take a closer look at how the deal is presented and how it benefits the customers.
When and how can clients use it? Is it severely time-constrained?
Do specific products or services have exclusive offers?
Do they take advantage of contextual email features like timers that change as you read the email?
Now see what you can accomplish with this kind of knowledge and understanding.
Step 4: Check their target audience
You can discover some intriguing tactics for interacting with your own consumer base by investigating the personalization and targeting techniques used by competitors.
Either you’ll learn that you’re not reaching a particular market, or you’ll learn that your rivals aren’t reaching one of your most important demographics.
Using this information, you may create email tactics to reach the target segments you have been ignoring and increase your efforts with those you are already succeeding with.
In addition, you might focus on areas that are unknown to your rivals.
I hope this article has enlightened you on the value of competitor research and how to carry it out in email marketing.
It’s time to act now that you are aware of the stages involved in competitor analysis.