how-to-do-email-marketing-competitor-analysis-8-easy-steps

How To Do A Best In Class Email Marketing Competitor Analysis: 8 Easy Steps

Email marketing is one of the leading channels for revenue generation. It helps bring potential customers to your website, quickly and on a minimum budget. Competitor Analysis can provide a solid footing for developing a successful Email marketing strategy. As the market is growing every day, you must keep your ground. That is why you need to specify your competitors and the league they’re playing in. This will help you analyze your own possibilities and maturing prospects.

Analyzing your competitors’ campaigns is also a great opportunity to push yourself and stay on top of your marketing strategies. Instead of ignoring what your competitors are practicing, a competitive analysis can play a key role in the success of your businesses. 

Email marketing, in particular, can provide a lot about a business, such as how they communicate with their customers and who their target demographic is. You can also see how often they are engaging, what promotions they offer, and how they’re positioning their product or service.

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Spying on your competitors’ email campaigns allows you to improve your own campaigns by adapting successful campaign ideas or avoiding those that didn’t work well. In this article, we’ll discuss what competitor analysis is? what to look for that could help your own marketing strategies. How to do a competitor analysis? Let’s dive into it! 

What Is A Competitor Analysis?

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It is clear by its name, competitor analysis is a strategy that involves researching your major competitors to gain insight into their email campaigns, products, sales, and email marketing tactics. Implementing stronger business strategies, warding off competitors, and capturing market share are just a few benefits of conducting a competitive analysis. Competitive analysis can help you learn the ins and outs of how your competition operates, and identify potential opportunities where you can get ahead of them.

It also empowers you to stay on top of industry trends and ensure your product is consistently meeting — and exceeding — industry standards.

Let’s dive into a few more benefits of conducting competitor analysis:

  • Helps you identify your product’s unique value proposition and what makes your product different from the competitors’, which can inform future marketing efforts.
  • Enables you to identify what your competitor is doing right. This information is critical for staying relevant and ensuring both your product and your marketing campaigns are outperforming industry standards.
  • Tells you where your competitors are falling short — which helps you identify areas of opportunities in the marketplace, and test out new, unique marketing strategies they haven’t taken advantage of.
  • Learn through customer reviews what’s missing in a competitor’s product, and consider how you might add features to your own product to meet those needs.
  • Provides you with a benchmark against which you can measure your growth.

How To Do A Competitor Analysis For Email Marketing?

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Sign Up For Five Of Your Top Competitors’ Email Newsletters:

Create a new, generic email address so you’re not broadcasting to the competitor that you’re “spying” on them – although they are more likely than not doing the same – and so that you can organize the research you’re doing into one separate, clean inbox. Gmail makes it easy to create an additional email address with plenty of storage space and easy-to-use labels and folders.

Analyze:

  • Arrival date and time
  • Subject line
  • Does the email have a custom design?
  • CTA
  • Did you click on anything?
  • Was the email triggered (i.e. was it influenced by something you did recently on the competitor’s website)?
  • Frequency

With this approach, you have to do everything on your own which takes more time and effort while giving you less data to work on. It’s time to amp up your email marketing game with MailGaze. Competitor analysis tools like MailGaze can help you analyze and assess your competitors’ email marketing strategies and reach the right set of customers.

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Mailgaze is an excellent email spy tool, allowing you to evaluate email trends without sacrificing your privacy. It provides control over one of the fastest-growing email advertising platforms on the internet, thanks to comprehensive data from social media sites. The comprehensive search and filter capabilities will help you find the emails that your organization needs to know about. And the user-friendly interface will make it simple to find them.

Key Features:

Various Search Options:

Search emails by Keywords, Domain, Advertiser, Text In Image, Object In Image, Celebrity In Image, Brand Logo In Image.

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Locate Emails Quickly:

Locate emails quickly with options like:

  • Email Received Between
  • Email Captured Between

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Filter Emails like a pro:
  • Filter Emails By Age
  • Filter Emails By Gender

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Lander Properties:

Get in-depth insights about your competitor’s Emails, winning strategies, what eCommerce platform and tracking tool they are using to be successful.

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Extensive Analytics:

Get a detailed view of the performance metrics such as daily social engagement and weekly keyword trends, along with the reach of every ad across genders, various age groups, and countries.

You can clearly see how Mailgaze can single-handedly fulfill all your need for Email marketing campaigns. With the help of these amazing features, you can easily spy on your competitors’ emails.

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After searching for your competitor’s emails, follow the steps given below.

Analyze What Your Competitors Are Offering?

Why do businesses send emails to their customers? One of the popular reasons behind this is to let their customers know about special offers and ongoing sales. From a competitive perspective, it’s important to keep an eye on what your competitors are sending their customers because they might be winning out on your customers’ business by offering better deals and more sales. 

When analyzing an email campaign of your competitors, try to see the email from the perspective of a customer.

If you also send a promotional email besides the message from this particular competitor, which one would be more appealing to subscribers? Forget about the value of the coupons or the discount offers, either. 

Look a little deeper into how the offer is presented, as well as when and how is this providing value to the customers. How and when can customers use it? Is it extremely time-limited? Are their offers only for certain products or services? Do they use contextual email elements like countdown timers that update as you view the email? And what can you do with this kind of insight?

Look For Their Target Audience?

Knowing about your target audience is a crucial part of an email marketing campaign. And if you have not found your target audience, a competitive analysis can help you find it. 

Looking into competitors’ personalization and targeting methods could uncover some interesting strategies for reaching your own customer base. For example, you could find out you are missing out on a certain market of consumers or find that your competitors are failing to target one of your most valuable groups.

Using this data, you can build campaigns to attract audience groups you have been missing, double down on groups that you are winning, and revolve around areas that your competitors are not aware of. 

Of course, what you do will mostly depend on how large each segment is and if they are relevant for your business. However, this simple analysis can help you develop your next email marketing campaign and discover a new target audience.

How Do Their Emails Look?

Design is a very crucial element of email marketing that makes an impact on a subconscious level. It’s part creativity and part science. Design is the first thing that will make the prospect read or scroll through your mail.

There are various other aspects you can take inspiration from when looking at others’ emails. Of course, you never want to copy one of their ideas, but seeing what’s already out there can help you determine the gaps in the market and how you can fill them. 

First, look at how their email content is organized.

Is it clean and simple? Are they using visual elements like pictures or videos? How long is the copy? Most importantly, can any of these tactics help you get one step further in your own campaigns?

For example, if your competitor uses a lot of photos, maybe you can try out an illustrated style that stands out. Or you may still want to use photos, but be more focused on what your target audience might be interested in. 

Analyze Their Sense Of Brand Identity:

What a competitor says in their emails says a lot about their marketing strategy. It all begins with the subject line and how they introduce themselves. A good subject line ensures that your email stands out in an inbox and can help to increase open rates.

Compare your subject lines to those of your competition. Which subject lines are more exciting and more likely to earn clicks? How are your competitors crafting their subject lines?

Next, look at your competitors’ copy in the body of the email as well as their call-to-action copy. 

What kind of keywords may they be trying to target, how long or short is their copy, and how do they craft their call to action? All of this can play a very important role in the success of an email campaign.

Check Online Reviews:

Visit sites such as Google, Yelp, and Facebook to read customer reviews for your competitors’ services. If they have Twitter or Instagram accounts, consider how they’re replying to customer queries and negative comments.

Online reviews give insight into the customer experience a company is providing. By reading negative reviews, you can better understand where these businesses have gone wrong and determine what you can do to prevent similar situations. 

Talk To Competitors’ Customers:

As you’re reading online reviews and comments, make a note of people you’d like to learn more from and reach out to them. Talk to them directly and see who they are, what they want and need, and why they had a bad experience with your competitor. Not only are you learning about the customer experience, but you’re also giving them direct attention that could lead to business down the road. Think of it like a relationship: If something is lacking in their relationship with your competitor, make it known that you will fulfill those unmet business needs.

Conduct A SWOT Analysis:

Once you’ve concluded all your research, compile it in one place and evaluate your competitors’ strengths and weaknesses. Use this information to improve your own business and focus on specific areas you can capitalize on. As no business is perfect, keep this research on hand to look back on and compare against when you do another round of competitive analysis.

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Wrapping It Up:

Your competitors can reveal a lot about your own marketing. What is working well and what could be improved? How are your competitors appealing to their subscribers and how can you take it one step further to become the clear email marketing leader in your industry?

Although they are your competition, they can be a great resource for future email marketing campaign ideas and determining your unique place in the market. 

Now that you have some great ideas for your upcoming email marketing campaigns, it’s time to get to work building those winning campaigns with MailGaze! 

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