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Rand Fishkin, Wizard of Moz | Great Failures in Competitive Intel Why so many analyses of the competition.

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Presentation on theme: "Rand Fishkin, Wizard of Moz | Great Failures in Competitive Intel Why so many analyses of the competition."— Presentation transcript:

1 Rand Fishkin, Wizard of Moz | Great Failures in Competitive Intel Why so many analyses of the competition fail, and how web marketers can improve the process

2 bit.ly/randintelf ail Get the presentation:

3 Tragically Common, Competitive Intel Failures 4

4 Assuming Knowledge of the Root Cause #1

5 We’ve analyzed 50 of our most important search terms and found that the top organic result almost never appears in the ads

6 We think this is due to Google’s preference for diversity in their SERPs. Via Econsultancy

7 Recommended Action: Test removal of our paid search campaigns for a subset of keywords. Recommended Action: Test removal of our paid search campaigns for a subset of keywords.

8 Recommended Action: Test removal of our paid search campaigns for a subset of keywords. Recommended Action: Test removal of our paid search campaigns for a subset of keywords. This isn’t necessarily a crazy, terrible idea. So why do most of us know it won’t work? This isn’t necessarily a crazy, terrible idea. So why do most of us know it won’t work?

9 Observation : We saw X. Observation : We saw X. A Flawed Competitive Intel Process Analysis: We collected data. Analysis: We collected data. Correlation : We validated X’s frequency. Correlation : We validated X’s frequency. Recommendation: We proposed an experiment. Recommendation: We proposed an experiment.

10 A Process ^ more successful

11 Observation : We saw X. Observation : We saw X. Analysis: We collected data. Analysis: We collected data. Correlation: We validated frequency. Correlation: We validated frequency. Recommendations: We proposed validation methods for each potential cause. Recommendations: We proposed validation methods for each potential cause. Hypotheses: We brainstormed potential root causes. Hypotheses: We brainstormed potential root causes.

12 Mistaking a few Outliers for a Representative Sample Set #2

13 Competing in help desk software will require a very high domain authority

14 Err.. Wait, maybe not.

15 We Bias to What We Know Given my background in search, I often conflate rankings success with business success

16 And We Bias to Outliers Via NYTimes: Silicon Valley’s Startup MachineSilicon Valley’s Startup Machine

17 Often to the Detriment of the Truth Funding only <25yr-old, college- dropout founders is terribly limiting Via HBRHBR

18 This Isn’t the Only Way to Skin a Cat. Hammered Metal Lion by Selçuk Yılmaz

19 A Solution ^ more holistic

20 Cast a Wide Net Analyze: Our four biggest competitors in the search rankings. Analyze: Our four biggest competitors in the search rankings.

21 Cast a Wide Net Analyze: Our four biggest competitors in the search rankings. Analyze: Our four biggest competitors in the search rankings. Analyze: A broad range of competitors, noting correlations that predict both failure and success Analyze: A broad range of competitors, noting correlations that predict both failure and success

22 e.g. Instead of looking exclusively at the tactics of top ranking sites…

23 e.g. We look at the what high ranking sites do that lower ranking sites don’t.

24 e.g. AND try to understand how sites that perform poorly in search results may be attracting traffic and leads through other channels

25 Overinvesting in Imitation #3

26 Via Visual Website OptimizerVisual Website Optimizer Could this actually HURT conversion?

27 Via Visual Website OptimizerVisual Website Optimizer

28 Via Visual Website OptimizerVisual Website Optimizer A/B Test Results Page without the shield icon had 400%+ CR improvement vs page with the icon. [Note: results ARE statistically significant]

29 We need to remove the security messages on our site ASAP!

30 We should test this.

31 Is this the most meaningful test we can perform right now? (I’m not saying it isn’t, just that we should prioritize intelligently) Is this the most meaningful test we can perform right now? (I’m not saying it isn’t, just that we should prioritize intelligently)

32 Via Kayak’s Most Interesting A/B TestKayak’s Most Interesting A/B Test vs.

33 Via Kayak’s Most Interesting A/B TestKayak’s Most Interesting A/B Test A/B Test Results “So we decided to do our own experiment about this and we actually found the opposite that when we removed the messaging, people tended to book less.” - Vinayak Ranade, Director of Engineering for Mobile, KAYAK

34 Good thing we tested! Your evidence is no match for my ignorance!

35 2 Problems ^ w/ this approach

36 #1: We don’t know for certain why or whether a tactic worked (or if it will work for us). #2: Copying a competitor’s strategy ensures that we lag rather than leap them.

37 Underinvesting in Your Own, Unique Strengths #4

38 What’s Our Competition Doing?

39 Bloggin g Twitte r Google+ Event s PR In-Person Sales Emai l Social Ads Retargetin g CRO Outdoo r Radi o Prin t Vide o Instagra m Pintere st Reddi t Image Search Facebook SEO PPC TV Displa y

40 Bloggin g Twitte r Google+ Event s PR In-Person Sales Emai l Social Ads Retargetin g CRO Outdoo r Radi o Prin t Vide o Instagra m Pintere st Reddi t Image Search Facebook SEO PPC TV Displa y

41 Bloggin g Twitte r Google+ Event s PR In-Person Sales Emai l Social Ads Retargetin g CRO Outdoo r Radi o Prin t Vide o Instagra m Pintere st Reddi t Image Search Facebook SEO PPC TV Displa y We Should Do These.

42 A Question ^ better

43 Things We Can Do Better Than Anyone Else Tactics That Will Reach & Resonate With Customers What can we do here?

44 Things We Can Do Better Than Anyone Else Tactics That Will Reach & Resonate With Customers Well, we’re unusually great at visual content…

45 Bloggin g Google+ Event s In-Person Sales Emai l Retargetin g CRO Outdoo r Radi o Prin t Pintere st Reddi t SEO PPC TV Displa y Twitte r PR Social Ads Vide o Instagra m Pinteres t Image Search Facebook

46 Now the 2 Questions Become… Twitte r PR Social Ads Vide o Instagra m Pinteres t Image Search Facebook Which of these channels/tactics can successfully reach our audience?

47 Now the 2 Questions Become… Twitte r PR Social Ads Vide o Instagra m Pinteres t Image Search Facebook Who’s great at this stuff, and what are they doing that works?

48 Rand Fishkin, Wizard of Moz | bit.ly/randintelfail


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