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Business Consulting For The 21st Century Via A Holistic & Intelligent Approach

Web Analytics (An Hour A Day) – Chapter 12 by Avinash Kaushik

Consumed => “Web Analytics (An Hour A Day) – Chapter 12 (Month 7: Competitive Intelligence and Web 2.0 Analytics)” by Avinash Kaushik.

=> Key takeaway (page 312 – 313)…

“Two Competitive Intelligence Pitfalls to Avoid

You’ve learned why to do competitive intelligence analysis, the specific reports you can use, and the specific actions you can induce as a result of your analysis. Here I want to share two types of analyses that people jump into first when they hear of competition intelligence. Both are usually misleading, take up a lot of time, and in the end provide few actionable insights.

Conversion Rate – The instant tendency for anyone, especially senior management, is to ask for the competitor’s conversion rate and compare it to their own. Usually this is a waste of time.

Pages, or Content Viewed – This one is tricky. It seems logical that you would want to know the pages that visitors are viewing on your website and one your competitor’s website. A common question asked could be, How many visitors are viewing the product detail pages on their site compared to ours? The following discussion outlines some reasons why this could be a suboptimal use of time…”

I’d like to add that competition can be a matter of perspective. For example, if your business depends on the discretionary time and spending of your customers, then any other company that competes for that attention is your competition. In other words, your competition doesn’t have to be in the same niche or industry as your company. Furthermore, this can change over time.

Put another way: Is CBS’ (TV) competition the same today as it was 10, 15, 20 or 25 years ago?

Be careful how you define competition. And no matter what you do be sure to define it from your customers’ perspective, not your own.

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