What is situation analysis?
Situation analysis is a critical business function. It’s an important concept in that field, and best defined as the process of systematic assessing of the internal and external factors that influence organizations. Before launching a new digital marketing strategy, plan, or initiative, a situation analysis is performed.
It provides valuable information about available opportunities and potential challenges which affects the organization’s online presence.
Situation Analysis in Digital Marketing and competitor research are linked by the situation analysis. It provides an answer to the question of where we are now in terms of digital marketing. It helps in knowing your competitors, the top keywords, authorities, opportunities, and threats.
How to perform a situation analysis for digital marketing?
Certain factors should be considered when conducting a situation analysis that plays a role in marketing strategies for businesses. The most commonly used factors in any situation analysis example are:
1- Competitor analysis:
Examine your online competitors and determine their competitive advantages. This data can assist you in developing a strategy to differentiate your company from competitors and increase your market share. In this section of the situational analysis, the key questions to consider are:
Who are your online competitors?
What is the effectiveness of your competitor’s digital marketing strategies and efforts? (SEO, media buying, social media marketing channels, email marketing, and so on).
Where do you compete with your competitors?
What are your competitors’ resources?
2- Keywords analysis:
Using keyword rank tracking is an excellent way to track the success of your digital marketing activities. The goal is to identify the keywords that your competitors are focusing on in order to improve their rankings.
This factor is to identify and analyze the suitable keywords that match your topic and helps it to be a unique content with a wide range reach and also helps in knowing if you ranked up over your competitors.
3- Authority
This factor is calculated by merging more than one factor into a single DA score, such as linking root domains, and the total number of links. This score can be used later to compare websites or track a website’s “ranking strength” over time.
4- Opportunity and threats Analysis
Conduct a SWOT analysis to determine your strengths, weaknesses, opportunities, and threats that you can use to improve the performance of your business.
Implementing Situation analysis in digital marketing
Two factors would have a great role in implementing situational analysis in digital marketing and those of which are:
Digital Marketing Strategy:
A set of planned actions performed online to reach your specific marketing goals. In simple terms, this means performing consistent actions at the right time via the most suitable online channels to increase revenue and improve relationships with your audience.
There are three elements of a strategy: intention, marketing plan, and action.
- The intention: It is what you are trying to achieve with your digital strategy. Your intention could be the number of people you want to reach in your target audience with your message, product, service, strategy, or plan.
- The Marketing Plan: It is the general path you must take in order to achieve success and fulfill your intentions.
- And finally, actions are specific tasks that need to be performed for strategy development to work out as a planning process.
Digital Marketing Plan:
It is the use of a well-defined goal for your business, which can include customer acquisition, revenue growth, or retention efforts.
Once you have developed a plan, There are several groups of tasks that should be there to keep the effectiveness of your digital marketing plan, such as web design and development, Content strategy development, Search engine optimization, Email marketing, Social media marketing, media buying, Buyer persona, etc.
Benefit Brief After performing your situational analysis in digital marketing strategy, you got to implement it in your digital marketing plan.
This is the effective way to achieve your objectives and goals, knowing your targeted audience, and also knowing your market share, and how you are to your competitors. Situation analysis in digital marketing is particularly important because:
- It assists in making informed decisions about marketing.
- It aids in identifying and addressing problems.
- It aids in the development and implementation of marketing strategies.
- It aids in developing effective plans.
- It aids in the achievement of organizational goals.
Finally, A business that understands its market, its competition, and its current digital presence can better plan its strategy.
