For businesses to maximize their marketing investments, it's crucial to keep a close eye on their competitors by noting:

• the successful strategies of the competition
• the areas where the competition is falling short

Regularly assessing the offerings of the competition, and determining where marketing strategies thrive or fail, is key to success in both online and offline platforms.

Key Questions for Competitor Analysis

When scrutinizing competitors, their features and benefits, as well as industry specifics, several crucial factors should be considered. These include Brand, Awareness, Overall Design, Presence, Navigation, Online & Offline Content, Functionality, and Customer Service:

Brand Awareness & Overall Design

• Who is the intended audience and what is their demographic profile?
• Does the company's brand resonate with and attract its target audience?
• Has the company seamlessly integrated its branding across all marketing materials and platforms?
• What strategies has the company employed to enhance brand awareness among its target market?
• Does the brand's associated marketing materials have a sleek & professional look?
• What psychological strategies are used (like color scheme), and how do these strategies influence consumers?
• How are images utilized for online & offline campaigns; (if online, are they compatible across different platforms)?
• Are all media used in the campaigns high-resolution, clean, clear, non-distracting, and quick to load?

Presence & Navigation

• Does the business take advantage of both an online and offline presence opportunities?
• Is the company reachable through standard online and offline media (such as a website and social media)?
• Can the business be located on both online & offline industry-specific media?
• What types of media are employed?
• Is the overall layout and navigation of all materials user-friendly, regardless of the medium?

Online & Offline Content

• What forms of online content are used (videos, social posts, etc), and how are they deployed?
• What types of offline content are used (postcards, mailers, flyers, brochures, radio ads, etc), and how are they effectively utilized?
• Is the content clean, clear, easy to read and navigate regardless of the medium?
• Is content regularly updated and refreshed?
• How are the products, services, and related categories organized?
• Does the content accurately convey the company's objectives?
• Are all features and benefits presented from the consumer's viewpoint, explaining how it will address their issues or needs?
• Are descriptions concise for quick review; as well as detailed and keyword-rich for consumer research and search engine optimization purposes?

Online Functionality

• Are online media designed responsively, (i.e., viewable on mobile browsers and tablets, in addition to regular platforms such as laptops and desktops)?
• Does the competition offer online sales (e-commerce) of products and services?
• Do they offer online scheduling and appointment setup?
• What other types of online services does the competition offer?
  • Interactive Online Support
  • Real-time Online Signup
  • Account History
  • Payment on Account
  • Gift Certificates
  • Coupons
  • Layaway
  • Online Billing
  • etc.

Customer Service, Sales & Support

• What online options for customer service, support, and help are offered? (Online Chat, Email, etc)
• Is there a physical location or phone number for customer service and support?
• How does the company handle complaints and negative reviews?
• What is the company's return policy?
• Does the company offer any guarantees or warranties on their products or services?
• How does the company follow up with customers after a purchase?
• Does the company have a loyalty or rewards program?
• Is there a resource library of related information for customers?
• What type of related resource information is available?
• Do they provide industry related news or online newsletters?
• Does the company utilize online social media (Facebook, Twitter, LinkedIn, Instagram & Alignable) to reach consumers and provide a public forum for feedback?

In addition to the above general questions for competitive analysis; every business must consider important unique factors as well:

Unique Elements of Review

• Analysis of any unique, industry specific factors that may pertain only to online & offline marketing within certain business sectors, factions, or genres.
• Locality, regional culture, and social norms are also imperative factors when analyzing any company's campaign efforts, and how to properly "speak to" and "identify with" the target market of that local area.

Implementing Positive Change

By answering these questions, businesses can gain a comprehensive understanding of their competitors' strengths and weaknesses. This information can then be used to enhance their own marketing strategies, improve customer service, and ultimately increase their market share.

Remember, the goal is not to copy your competitors, but to learn from their successes and failures. Use this information to differentiate your business and offer something unique to your customers.

A well-researched competitor analysis is a crucial part of any business strategy. It allows businesses to stay ahead of the curve, adapt to changes in the market, and continuously improve their offerings.