How AI Helps Businesses Stay Ahead of The Competition
Many small business owners today fail at digital marketing simply because they lack the right approach. If you’re just starting to market your business online — either through social media or paid platforms like Google — the best way to ensure your strategy is a solid one is to look closely at your competitors.
Why Competitive Analysis for Small Business Matters
It goes without saying, but you and your competitors are vying for the affection and attention of the same target audience. Because of this fact, whatever marketing campaigns they have deployed can provide pertinent market data for your business.
If you’re opening a quick service restaurant that serves burgers in Los Angeles, then seeing what campaigns the bevy of burger eateries in the area have been running in the last few weeks, months, and years should be a priority. Why? Because the results of these competitor campaigns can provide pertinent information for your business, and give you a clear picture of what works and what doesn’t in your particular market.
This also helps you identify a target audience quicker, and can make the process of creating paid ad campaign budgets much easier as well. All in all, consistently knowing what the competition is doing can only benefit your small business’ marketing campaigns in the long run.
Why Most Small Businesses Fail at Competitive Analysis
While everything listed above is true, most business owners don’t have the time or resources to regularly analyze their competition; and either avoid the task altogether or fail at it as a result. To remedy this, some small businesses will outsource the task to a digital agency, but this isn’t the most cost-effective option. Especially if you have more than a few competitors in your area.
Another option business owners explore is hiring a freelancer to do the job. However, as most who have went this route will tell you, the results are almost always lackluster. At the end of the day, analyzing your competition isn’t something you should try to cut corners with. In order to provide the right data to be utilized for your campaigns, you’ll need to be as thorough as possible. But, what if there was an end-to-end digital marketing solution that provided immediate competitive analysis results? What if this solution utilized AI (artificial intelligence) to provide the most relevant competitor data every time?
How Winnow Uses AI to Provide The Most Relevant Competitive Analysis
With a tool like Winnow, small business owners never have to worry about competitive analysis again. We use AI to quickly and efficiently analyze the campaigns your competitors have run in the past. The data gathered is then used to shape your marketing campaigns to ensure they get results.
The best part? Because Winnow relies heavily on AI — along with real life experts — the tool is significantly more cost-effective than a digital agency or in-house employee. For one monthly subscription, small businesses get everything they need to automatically assess their competitors, create their target audience, and deploy data-driven paid and organic marketing campaigns.
Additionally, with Winnow, your campaigns are analyzed consistently to provide the most relevant reporting and make quick adjustments when needed. This ensures every campaign you run is relevant while utilizing the right messaging for your target audience.