4 Ways to Monetise on your Competitor’s Losses
Author:
Hannah Gibson
SEO
It can be a case of mixed feelings when you hear the news that one of your competitors have closed down. On one hand you fear the worst – that the same might happen to your business if the demand for your products or service is slowly drying up with the current state of the economy. On the other hand, you’re feeling that this means there should be more opportunity for you to gain a bigger market share. So how do you grasp that opportunity through your online marketing?
Gain instant traffic with pay-per-click adverts
As soon as you hear the news, you could set up a new campaign in your PPC account to target those searching for the closed down company’s name. Add variations of their company name to your keyword list and create adverts that inform searchers that the company has closed down, as well as displaying your key USP. Let’s make an example, let’s say you have a website that sells football socks and your company name is ‘Red Socks United’. Your competitor that’s closed down is called ‘Blue Socks City’. Here’s the type of PPC advert I would run along with keyword variations of ‘blue socks city’ to target those searchers:
Attract traffic to your site with a blog post
To target people searching for your competitor’s brand name through organic search, you could write an article or blog post to publish the news online. Using their name in the title could help you pick up organic traffic, and with Google’s recent freshness update, your article may just appear on the first page of results for a few days after posting. Obviously you don’t want to be seen to be taking pleasure in them closing down, so keep it non-biased and informative like a proper news post. However do make sure you have a call to action of some sort at the end of the post which encourages readers to stay on your website.
Improve your organic rankings with broken link building
This is an SEO link building technique I’ve been reading about more and more recently, and is one which I feel brings a fresh lot of link opportunities for those who have become a bit stuck and are running out of ideas. The concept is basically that you find broken links on a website that you want to gain a link from, kindly tell the webmaster that you have found the broken link whilst browsing their site and just wanted to point it out to them, with the aim that they will agree to link to your site instead, since you have content which is suitable enough to replace the previous content they linked to.
Whilst doing some competitor analysis the other day, I came across various links to a site of a company which I know went into administration last year. As they would’ve been a competitor of my new start-up client, a lot of the links that they have to their (now dead) site could link to my client’s site instead as they sell the same products that their competitor did.
Gain more revenue from your existing customers
Knowing that one of your competitors have gone bust might make you re-evaluate what you’ve done to stay successful and what you’ll probably find is that an important factor is – without a doubt – your customers. Now is a better time than any to thank your customers and businesses can always do more to gain more revenue from their existing customer base. Why not send out a newsletter/email to everyone on your subscribed list and offer them a brilliant discount, free delivery or a free gift with every purchase – whatever you think your customers will appreciate, what you can afford to give away and still make a profit on.
Don’t let a competitor’s misfortune get you down, instead adopt these positive online strategies to try and increase your share of the online market. If you need any help with putting these strategies into place, call Creare on 01788 551 591.



