Why Competitive Analysis is Key to B2B Content Marketing

Michael Levitz (00:00)
Hello and welcome to this edition of Forecasting the Brief. I'm Michael Levitz. Today we are going to be talking about the competitive landscape in content marketing.

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Robin (00:05)
And I'm Robin Tully.

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Yes, competitive landscape is something we've been thinking about a lot recently at Forecasting. We often think about this kind of game theory approach to marketing and one of the most important elements of any game theory approach is who are your competitors and what actions are they taking?

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Michael Levitz (00:30)
So when forecasting started, we primarily focused on understanding what a brand had said in the past and what it wanted to say, and then what was being said in news, social, and search trends. And this was really the first year of focus. It was kind of threading that needle of where the conversation was in the industry, publications, blog posts, research reports, where there was informal conversation happening in social, and then kind of threading that needle and finding the intersection of where a brand was sitting in there in terms of what they had said in the past, and then what their opportunity area was, places where they had some permission to have authority to own. And that's where we spent year one. Robin, anything you want to comment on there.

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Robin (01:17)
No, I think we just had the baseline belief that there was this audience culture, there was this zeitgeist of communication that would be permanent in like the news trends and the SEO volume and the social conversations. And we just kind of had a belief that as those trends emerged, if a brand kind of had parity with those, they would rise and succeed attached to kind of the market value of these topics. But it was a little bit of kind of a peer just like there is the total value of these topics and you should kind of track onto them without regard of kind of anything else that's really happening around you or with your competitors.

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Michael Levitz (01:58)
And that took us pretty far. think we were both happily surprised with how much insight we could glean, just by looking at those, four primary sources, know, news, social search, and then a brand's own website. You know, just by kind of processing the volume of publications and social posts that were happening in a particular space.

We could really identify kind of, you know, where the center of gravity of the conversation was in a given week and also kind of where it was going. And I think, you know, we were generally pretty impressed, you know, even whether it was kind of a more mass market kind of topic or a more niche topic, we were generally able to really put a brand's content strategy, you know, where it needed to be and often in a place where it wouldn't have gone without our predictions.

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Robin (02:46)
I think it was attached to trying to provide a tool for marketers current workflows as well. Like they are currently doing research. They are currently wishing that they could do all of this kind of research. And if we can automate that level of research for them and hand it to them every Monday on a silver platter, then that just kind of solves a, a current pain point that they have a known problem of just the kind of time expense of doing this kind of research.

But as we kind of got further and long and started thinking about what more could be put into it, I think one of the things that emerged as powerful is this competitor analysis, this competitor landscaping where with knowing what the conversation is talking about and with knowing what the brand is currently talking about, if we can add in that kind of third element of the triangle of what are your competitors talking about, well, now you really start getting something that fundamentally was unavailable before.

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Michael Levitz (03:42)
And I think that's one of the blessings and curses of data is that you're never satisfied. You only have more questions. You get the thing you want and then you realize there are three new questions you didn't even know to ask before that. So once we had kind of sorted through those four initial sources.

you know, there was this feeling of incompleteness. There was this feeling of, you know, we can't really say what your share of voice is on a topic or kind of what your authority is without also having done the exact same thing for your competitors. I guess that was also an interesting thing that happened. Sometimes we would be on calls with prospects or customers.

And they would just say, hey, like, can I run this against my competitor instead of myself? Like, do I have to put my own website in here? Can I just put a competitor's website in there?

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Robin (04:30)
Alright.

Yeah, and it ties into the different kind of stages of where a brand is at, where early on, if you might not have a lot of content that you've published today, or if you haven't gotten very far in your marketing journey today, we would talk to people in that position and they would just kind of want to have this index of the competitors just knowing where to get started optimally. And if you're further along, well, then you are playing this kind of marketing battle against your competitors, but at all the different levels, there's just kind of a different angle of why people wanted the competitive analysis. But yeah, it was interesting how it would emerge kind of at different pain points and in different aspects of customer interviews.

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Michael Levitz (05:13)
And we've always been interested in the question of frequency because I think, you know, there's no, just like there's no end to research. You know, one of our initial goals was to allow you to call research done enough to write the post or the article. It's similar in terms of frequency. You know, there's always more you can do. How do you know if you're...doing too much, you're in a situation of diminishing returns, or you're doing the right amount. And we get these kind of questions from customers. And I think we always wanted to answer with a data you know, oriented answer. You know, it's not a gut feel. It's, know, what actually is the number we can put on frequency. So I think one of the critical inputs to answering that question is, what is the competitive landscape? You know, how many articles, how many emails are being posted and sent by your competitors? And it's not to say you have to do that, but it is to say that that is kind of an important input for deciding what your frequency should be.

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Robin (06:17)
if you do not take action, you know, this is what will happen around you.

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Michael Levitz (06:22)
Yeah. And you know, if you're in a space where people are publishing one blog post a month and your goal is really to command some share of voice, you know, you may say, okay, I'm going to start with two or three. And you know, that may be totally sufficient. You know, if you're in a space where people are just prolifically pumping stuff out and you do that same number, you know, you just have way less chance of having that content move the needle.

So I think getting to the frequency answer was one of the key aspects of why we moved into competitive. I'd say the other one was, you we've always loved this idea of an editorial calendar. I think because, you know, it gives actual data, you know, around kind of what's happened in the past and what's going to happen in the future. And one of the things we got really interested was, well,

can we reverse engineer everyone else's editorial calendar to then, I don't wanna make my editorial calendar until I've seen yours. Or like once I make it, I wanna be able to adjust it. And I think we're both board game players. And there was a very board game aspect to kind of preparing our editorial calendars and then wanting to see everyone else's cards.

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Robin (07:33)
Well, I think one of the things that becomes interesting too with the competitive analysis at scale is the ability to determine kind of below the surface level of how many blog posts and just the frequency also to get into the kind of roles that these blog posts are playing for your competitors market approach and knowing which topics are your competitors talking about and being able to get a little bit more of like, yes, you you can see the

the hands they're playing by the blogs posts they're sending out, but trying to dig a little bit more into what is the intention of the competitors and you know, what is the kind of strategy that they're taking? Are they making a lot of blog posts that are educational? Are they making a lot of blog posts that are product highlights? Just any of these things that can kind of help navigate the strategic intention of them.

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Michael Levitz (08:22)
And I come from the agency background where we're great at doing competitive analysis. But you can torture the data to make it say whatever you want to.

You you're looking to find these nuggets as opposed to I'm gonna look at every single blog post that was published in a year.

And I'm going to actually like analyze that from a data perspective and say, these, you know, these are the topics covered. This is the type of, you know, post it was as opposed to what we would do on the agency side was really just looking for kind of, you know, what were these emotional things? What were these, you know, kind of big moments that we're telling? And while that's, you know, valid and really interesting, it's a very different thing to actually just.

record every single email or every single blog post and then kind of let that tell the data story of what it really was saying.

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Robin (09:11)
Yeah, we've talked about how

even for your own kind of campaigns that you're sending out, it can be hard to remember what you talked about in the past. And it can be hard to look at that in kind of an unbiased way. And both of those things get even harder with your competitors, right? And knowing kind of what your competitors are saying. And sure, you can kind of cherry pick a few anecdotes off of like the last two emails they've sent in the last month, but to get that actual kind of full roadmap that you're talking about of, here's a fairly unbiased, unemotional assessment

of what the competitor is doing over the last year, kind of devoid of any sort of like current bias that I might have about the competitor becomes pretty powerful.

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Michael Levitz (09:51)
So being board game players, we thought of this competitive analysis and really the content publishing as a turn-based game. You as a brand have these moments where you're publishing a blog post, you're sending an email, and it's easy to kind of see it only through the lens of what you're doing. But the reality is a customer's inbox, a customer's notifications, generally have

notifications from several different brands, you all in the same space and they're getting information from competitors, they're getting information from industry experts, know, Gartner, et cetera. And we wanted to kind of map all of that out so that we could strategically kind of place our bets or take our turn and understand almost as though we're sitting around a table and the turns are going around, you know, where we sit within that play.

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Robin (10:40)
I think it's, yeah, think it's kind of two elements to it. So one is both where you sit in terms of the play and the second is kind of understanding the likelihood that your opponent will take an action and what their intention is. Like if we look at chess, right, and you can say like, all right, I'm gonna spend some time learning the openings and I'm gonna learn the Karo-Khan and the Sicilian and all of that and I'm gonna get pretty good at those and I'm gonna have those in my tool belt for...

how I play this game moving ahead. That'll get you pretty far. And then at a certain level, you need to start trying to understand, well, what are the openings that your opponent is likely to play? Both in terms of at this skill level, people make this kind of play, and also, well, at a certain like...

heightened level, know, what is this specific opponent like to play? What opening does Magnus Carlsen play? And Magnus Carlsen will kind of always bust the openings just to not allow people to do that. That's a side note. But really what I mean is like, you can look at your industry and kind of try to learn these patterns of people in logistics are using blog posts for this kind of key purpose. And this is the way they are doing that. And those blog posts both thematically are covering these topics and they're going out on

Tuesdays and having that kind of information becomes very massively beneficial for you figuring out well do you want to kind of try to ride that trend do you want to disrupt it by being earlier do you want to play in that if it's already a Red Sea or not and then the second part is like if you have very specific competitors and we can we automate that research about figuring out what is the exact

competitor that you are most interacting with, you most in competition with doing, well, then you have a big leg up and trying to figure out like, how do you actually out-compete them? And if you think they're likely to talk about, if they've only ever talked about topic A, well, topic B can be a whole new opportunity or to seeing what their kind of editorial calendar is, there's a lot of strategy there too.

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Michael Levitz (12:34)
One of things I like most about this, kind of seeing content marketing as a turn-based game is it really sets you up to constantly be learning from your competitors. Generally, they are very good at certain things and they're very good at kind of different things than we are good at.

So, you know, it really helps us understand, hey, you know, we have this, we have these strengths and weaknesses, they have these strengths and weaknesses, let's pull in a little bit of what they're doing well into our playbook, or let's be able to kind of know, you know, they're gonna do like really good vertical content, you know, and let's make sure that we're able to at least have parity with that.

So we're not, you know, kind of blindsided by it or, you know, customers aren't just going to them for that purpose. So I think, you know, having this, having this competitive analysis and seeing it as a term-based game kind of forces you out of your bubble. You know, it's, easy to kind of get into this idea of like, I'm not going to get distracted by the competition,

so it forces you to kind of really just stay in tune and not allow yourself to kind of retreat to the safety of, well, I'm just going to publish great content and, know, hopefully people like it.

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Robin (13:44)
Yeah, I I think when we've been talking to prospects and clients, just the confidence and kind of comfort you can gain knowing like, all right, here's the set of actions that people are taking and I can kind of keep track with it or I can disrupt it in this way. But there's a lot more of that confidence of just knowing here's the rules of the game that I'm playing and here's the current status of the board rather than just having this kind of total blind like.

Where do I even get started?

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Michael Levitz (14:11)
And I think that's the other piece of competitive. It's just...

It's really exhausting to, and boring, you know, work to really just constantly ingest all of that stuff. And I think as a result, you know, people naturally just stop doing it. You know, maybe it becomes like a quarterly thing. It's also something that, you know, you've been in your job, let's say five years, you've done, you know, for me, you've done like the diaper competitive audit, you know, every quarter for five years. You know, at a certain point you're like, I think I got this.

I know what's going on and that's a real risk because that's our kind of ego saying that we think the competitive landscape is stagnant when actually, of course it's not. So I think it's one of these tasks that's really...

you know, right for automation for one reason, because it's just hard to do all the time. And for the other reason, you know, it's really easy to bring like that bias of, you know, you remember a particular article or you're just gravitating to something that catches your eye. Whereas actually the full set of data tells a different story.

All right, so then we started, you know, pretty humbly. We started kind of just recording, you know, identifying a set of competitors.

And really just recording, you know, every single blog post that they had published with timestamps and, you know, labeling it. And then every single marketing email that they had sent as well. And same deal, just, you know, putting a timestamp, putting multiple labels on it and starting to understand, you know, kind of what their editorial calendar is, you know, how often are they sending things? What are the kind of topics, you know, is there, we love accessory Tuesday, you know,

Are they doing like an Accessory Tuesday? Can we predict exactly which topics they're going to talk about? And I think over time, you know, most brands are using an editorial calendar. You you can actually start to predict, you know, kind of what they're, when they're going to send something or publish something. And, you know, with some likelihood, what they're going to be talking about.

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Robin (16:12)
Yeah, trying to map out what they're likely to be talking about, find to be one of the really interesting and unique parts. And one of the things that I think comes out of it is it doesn't even really need to be the most fine grained prediction of this is the exact thing they're going to be talking about. I think just finding out the like,

the structure of what they're trying to talk about, the kind of key goal, are they talking about promoting a specific product, are they talking about kind of promoting the brand's vision and image and all of that really can get you a fair bit of kind of relevant context to make actions based off of. So, depends on the number of competitors that you have and kind of the information you want to get about each of them, but one of the things that does become pretty interesting is just,

how like kind of simple things that we're labeling at scale actually become very powerful and being able to figure out, right, seven of my competitors out of nine known competitors are all following this same rough pattern of Accessory Tuesday or not.

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Michael Levitz (17:11)
I think one of the interesting things for me was, you know, we stress over creating great content and every, you know, all the competitors are doing the same thing and they're diligently creating great stuff. So, you know, as you analyze this content.

there's just really great insights in there. Brands are really putting their best foot forward in that stuff. Often, very few people are seeing it or reading it. And the quality of the signal in those posts and those emails is just really high. They're doing a great job at distilling what they have learned and what they've read recently to help their customers understand the space.

collect all of that stuff it really you know gives you a really interesting map of the landscape.

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Robin (18:00)
It really allows you to help kind of find out where you play in the landscape too. One of the things that's been pretty interesting for people is to see, all right, here's the competitor landscape and here's where I am in it. know, ⁓ like the competitors are publishing five blog posts a month and you're publishing two and like, does...

a large number of meetings where you'll be talking about, you know, to your boss and your marketing team and whoever, like, this is all the reasons why we're publishing X number of blog posts a month or sending X number of campaigns. But to just get the kind of, just the numbers of frequency and topics for you against the competitors is kind of a, you know, it's unbiased. It's just the facts.

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Michael Levitz (18:42)
One other thing that you see in this that is shocking to see, but we all know it, is the consistency and lack of consistency. You'll see brands publish.

you know, five blog posts a month, and then there'll be three months where they haven't published anything. You know, you see these emails come out and there'll be these, you know, just windows where, you know, they went dark for a while and then they come back. And I think that consistency piece is so kind of overlooked at just how hard it is to maintain these things. And like, you know, just the level of kind of team staffing you need.

documentation, commitment, you know, to really do these things in a kind of regimen day after day, know, week after week, month after month. It is not easy. And you see brands try it and fall off and you see other ones that actually are kind of committed to it and pull it off.

Let's do one last thing on this. Let's so Robin, when we did our first analysis of competitive email and blogs, what was the most surprising thing that you found in the data?

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Robin (19:55)
I think it is these kind of under-occurring trends that we keep mentioning, where like...

you know, competitor A is voicing something in this style and competitor B is voicing something in this style. But we have the ability to say like beneath just the veneer of exactly how the thing is being voiced, both of these competitors are talking about this trend, this idea, and we can figure out, you know, how this trend is both represented in.

your own first party content and then these other kind of external signals that we're looking at. So just, think it is that ability to just say like, here's kind of the core actions and the core topics that are being taken and they have different costumes on top of them. But at the end of the day, there's just a certain amount of kind of finite calculated actions that people are taking.

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Michael Levitz (20:45)
I think for me, one of the most interesting things was how often we all forget about the audience. We feel so much pressure to be intelligent, to put the brand in a great light. And when you just look at the list of all of the content that's been published.

it so often lacks what the audience really cares about. You know, we're often seeing that next to, you know, an analysis of, let's say, social, you know, where we see exactly what they're caring about. You know, and there'll be these kind of large gaps often where you're even taking a topic that could be super fun, you know, like being a new parent and just kind of losing the fun of it, you know, because you get in this mode of like, have to be

smart, I have to write something, it has to be professional, that kind of thing. And you just lose the connection to, oh wait, people are actually reading this because they want to have some guidance, they want a kindred spirit, they want someone who's going to be an expert in the thing that they're of glancingly needing to know more about.

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Michael Levitz (21:50)
So it was a nice wake up call. I always feel like the best way for me to kind of stop doing something is to see someone else doing the thing I want to stop. I'm like, man, I do that. Once I see someone else do it, it really like motivates me to, because I look at them and I'm like, that is me.

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Robin (22:08)
Yeah, it's just like it's if you don't believe you have competitors or if you don't look at the audience, you can just kind of stand there steady and still and like nothing will happen and nothing will change. But both in terms of like bringing the fun of it back into it, there is just the kind of bringing the victory back into it, bringing it like the competitive edge of just like, well, if we do better than our competitors at valuable things, you know, we will.

We will win. We will do better.

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Michael Levitz (22:34)
The other really amazing thing, and this is kind of like Captain Obvious, but it's something I don't know that I've ever actually done before, is I use diapers as an example, because I'm not working on them anymore. We ran competitive analysis, and it forced us to see all of our emails.

in the inbox surrounded by our competitors emails. know, normally you're just seeing, you know, you're in like Klaviyo or whatever and you're seeing all of your emails with engagement rates. Seeing all of your competitors emails around yours.

was super interesting and kind of, you know, just kind of shows you how hard it is to break through and how most likely your, you know, customer, your prospect is kind of has this inbox where you're just, you know, one of many.

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Robin (23:20)
Right. Yeah, and there's a lot of like the context of just, well, if they see this one thing amongst the sea of all these others, how does it actually stand out?

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Michael Levitz (23:29)
Yeah, yeah, and it just kind of makes you see the inbox or see the search through the eyes of your customer. And when you actually see it, the amazing thing that you've worked so hard on, just being like a row surrounded by a sea of other amazing writers and brands that are competing really hard for the exact same thing. It's just a wake up call.

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Robin (23:47)
Yeah.

Yeah, here's the preview text. Here's the subject lines of these other emails. you are very proud of the actual body of the email and the promotion you included in the email. But ⁓ look at the actual subject lines. And if you got beat by those, they might not even see your great content.

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Michael Levitz (24:16)
So the next thing we wanted to talk about was the role of content in automation. We started out really focusing on batch and blast, what is being talked about in the newsletter, what's being talked about in these kind of subscriber wide communications. And then as we got more into it, we started digging into.

triggers or automations where there are these flows or journeys that are evolving over time and often context relevant things. And this is a place where often these get, you know, they get set up.

and you never know exactly how they're gonna go or when they're gonna trigger. So the content is often fairly generic and can get left for dead. You can have some of these automations that are just a year old, two years old, and nobody's looked at them since they've originally been set up.

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Robin (25:07)
Yeah.

And it's interesting to think about like, well, what has changed in the last two years since this thing was set up and like, there's always going to be some kind of narrative voicing to any of these things. So it's still going to be relevant to have good topics, good experiences, good permutations of how you're kind of addressing the like steps of the automation and the topics and how they play in together into kind of the different steps of the automation.

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Michael Levitz (25:32)
And when someone, you know, sets off one of these flows, how do we kind of have a core template that lets it run? You know, because people are busy, we can't, you know, mire, you know, these teams and having to update all these flows all the time, it kind of undermines the value of it. But then also, how do we still inject them with some trending topics or, you know, relevant content that's timely right now?

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Robin (25:56)
In your experience, what do you think is the average difference in how valuable these automations are versus the kind of batch and blast sends?

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Michael Levitz (26:06)
massively important. Yeah, I mean when you're in like your Klaviyo dashboard, know, they'll break it out for you and it's really shocking. You know, because you're not, they're just running. You know, you've set them up and they're running, so it's easy to not think about them.

And you're putting a ton of investment and time into things like newsletters. You know, this is real, you know, behavioral kind of context relevant communications, know, card abandonment opting into a certain event, let's say, or, you know, welcome flows. And yeah, they often are kind of what I call like zombie flows where, you know, there could be a broken image in a flow for six months and nobody

notices. You know, because you're not as a brand, you're not getting the welcome flow anymore. And someone will all of a sudden like do you a solid and email you that, your welcome flow is a broken image. And you're just like, oh my God, how long has that been there? So the value is really huge. You know,
The fact that you're reacting to something a customer has actually done is incredibly valuable and you can make all kinds of inferences and curate great stuff for them. But it's often done in an intentionally generic way because nobody wants to manage these flows all the time.

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Robin (27:21)
And I think one of the big things we spoke about in a previous episode was kind of the value of these like behavior based signals and these ⁓ automation chains are very often valuable sources of that kind of behavior based data.

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Michael Levitz (27:35)
So there are some tools now, there are great tools that will allow you to inject dynamic content into those flows. But then...

the same problem kind of comes up, you which is the one we're focused on, which is, but what do I say? and, what, who do I trust? You know, when you're injecting dynamic content into a flow, now what you're basically saying is like, nobody is going to review that before it goes out. Right. And that's not a comfortable space to be in. And the next question is, well,

how are we deciding what we want to say in those things? And I think that's where we come in because we want to base what we're saying on observable data that we can actually control as opposed to just an LLM that's kind of making a decision in the moment.

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Robin (28:24)
Yeah, we don't really want to ostracize the end reader of the email with some mistaken identity.

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Michael Levitz (28:31)
The other interesting aspect of getting involved in the automation flows is using data to optimize the flows. You know, what are the right messages that we have to play with? How do we kind of set a wide variety of messages to choose from and then analyze that and hone in on the best messages? And then, you know, what's the order that those messages should appear in?

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Robin (28:54)
Yeah, it becomes pretty interesting to think about ultimately what KPI you're trying to drive and where can it take place in this chain. So like we can see a position where if there's a three-part automation flow, well, the kind of the conversion rate throughout the whole flow can be kind of a different thing than the conversion rate in a different order after the first email of the chain. So there's some of these kinds of interesting like balanced equations of like, well,

you know, are we only concerned with the conversion rate after six months of this welcome flow with the emails all spaced out? Or do we want to kind of maximize that first play because maybe we'll lose some people after, you know, like after the hypothetical six months, we might not have as many people, but the people we have, we've now had them for.

five months as users or customers and you know the LTV for that is some number so it does become kind of interesting to see about how all the different kind of KPIs shake out across different permutations and kind of determine like which of these kind of permutation chains ends up actually having the ultimate value add for your brand.

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Michael Levitz (30:03)
And I think, you one thing we've talked about frequently on this show is basically...

not creating a lot more work. Email marketers are super busy and they're stretched across a lot of different things. It's very easy to set up personalization and segmentation and automation that's just not possible. So I think one thing we've noticed is there is generally a kind Pareto principle with these things where you can let 80 % of your flows just operate exactly as they always have and find the 20 %

that are really kind of the most important, the most effective, and just focus on those and really optimize those to be as best as they can be.

after a year of work recommending the best message for a brand to send in a particular week.

We basically decided to pull back and say, okay, that's only going to get you so far. You we had to kind of take our own self-imposed blinders off and say, okay, you know, we intentionally just focused on one job and, you know, had to accomplish that. Otherwise we wouldn't do anything. And now that we're there, you know, let's take a broader view of what's going on and see kind of, you know, what other signals can we pull in to understand where a brand is sitting within its competition?

And then also, you know, going down from batch and blast, how can we get into some of these automation flows and inform those with important topics?

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Robin (31:27)
Yeah, think we, just what you said, we spent a year doing this and then we got tapped on the shoulder and we looked who it was and it was the competitors sending emails, you know, and how that impacts your own actions.

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Michael Levitz (31:38)
So I think two things you can do in a lo-fi way straight off the bat, you know, these are a little time consuming, but.

know, everybody knows these already, but it's good to kind of eat your vegetables again. So number one is just, you know, set up your email trackers and, you know, log all the emails that you can from your industry and your competitors. And then same from a blog perspective, just, you know, take some time every week or every month and just not just kind of.

scan the blogs because that doesn't give you that kind of data story that you need, but actually log them in a spreadsheet. And at that point, you can really start to draw some interesting trends and conclusions.

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Robin (32:18)
Yeah, and I think it becomes very important to kind of try to balance the two different visions you have here, where one is like, stand on this side of the line and my competitor stands on this side of the line and we're going to battle over this thing. But one of the things that I do think becomes very powerful with this level of competitor tracking is looking at the battlefield from above and just kind of understanding the landscape of what's happening. And I think that's a bunch of these things where like, kind of looking at it from above, looking at yourself as

like a third party and the competitor as a third party really can help just kind of surface some of these like implicit biases you may have had. You'll learn a lot just from looking at that kind of battlefield.

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Michael Levitz (32:58)
So thank you for hanging with us this week. We will be back next week.

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Robin (33:02)
Thank you.

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