Brands must have something unique to offer in the highly competitive marketing and advertising world. A successful brand or product must know its rivals inside-out, whether it's their advertising strategies, perks they offer, or demographics they are targeting. Insights gained from this research can help you discover new opportunities and inform your marketing strategies.
In this article, we look at the necessity and benefits of competitive analysis on TV, as traditional broadcasting is still a powerful platform for brand awareness.
TV data holds many levels of insight and requires specific tools to unpack what it offers. Fortunately, there are easy-to-use analytics tools to help you understand how people see your brand. Read on to learn how tools such as 7M Discovery can search, compare and monitor your organic TV mentions.
A competitive analysis is a strategy used to learn the ins and outs of your competitors' marketing tactics, products, and sales.
Conducting a competitive market analysis will help you implement better business strategies and outperform your competition. It also enables you to stay on top of industry trends and exceed industry standards.
Some of the benefits include:
In some cases, brands need help understanding how to optimise their marketing strategy, such as advertising on TV for the first time or introducing a new product. This is where a media agency comes into the picture. They conduct a competitive analysis of their clients' competitor's TV presence, including their reach, frequency of advertising, campaign strategy, scheduling, and channel mix.
TV data can also determine when someone mentioned your brand in an advert or a programme. TV data can provide details such as the time the brand was mentioned, on what channel, and the context in which the mention happened.
Thus, TV data provides a deep insight into what encourages audience engagement and offers valuable information for planning future marketing strategies. Harnessing this data will enable your brand to offer new features and products based on previously unavailable insight. In a competitive world of TV advertising, continuously adding new value is key to success.
When advertising on television for the first time or for a new product, brands often have a murky understanding of important metrics like reach and frequency. The media buying firm might do a competition analysis to learn more about similar brands' TV advertising strategies. Brands can learn about the advertising approach of their rivals by analysing this data, which may comprise any of the following details:
There are a few tools that companies can use to carry out competitor analysis on TV. One such tool has been created by 7th Minute, a contextual data company that provides access to TV data. With tools such as 7M Discovery, brands can better understand their data by gaining unique insights from TV mentions.
With the 7M Discovery tool, you can search every spoken word on TV and get insights you can use to understand when people talk about your brand, products, or industry. It's an advanced analytics tool designed to explore TV data quickly and easily with self-service tools at your fingertips. It allows you to search, compare, and monitor organic and paid TV mentions.
7M Discovery helps you develop confidence in your decisions with unique TV insights from the discovered data.
7M Discovery offers an Essential, a Pro, and an Enterprise package.
The Essential package is free to use. It offers unlimited, multi-term comparative searches and six monthly look back.
The Pro package offers an unlimited multi-term search function and an 18-month lookback with additional year-on-year analysis.
The Enterprise is the most advanced package, offering:
7M Discovery is an easy-to-use, self-service tool. You can get started with the following three simple steps:
Every day, millions of words, brands, and products are mentioned on TV. But with the right tools, you'll fully understand how people perceive your brand.
With 7M Discovery, you can search every spoken word on TV and get insights you can use to understand when people talk about your brand, products, and industry.
With 7M Discovery, you can:
Benchmarking your share of voice with a multi-term comparative search will help you identify untapped sources of customer data. Taking advantage of these unique insights will contribute to your competitive edge.
7M Discovery is an excellent tool to help you understand how people perceive your brand & product. This information is invaluable when it comes to dialling in your marketing strategies in a highly saturated market.
7M Discovery’s intuitive dashboard function will allow you to explore TV data in a timely manner. The ease of use will save you time and help you stay on top of current trends.
The actionable insights gained from TV mentions will help you:
In the rapidly evolving media landscape, it's necessary to cut through and ensure that you understand your audiences and that they understand what you stand for. To stand out among your competitors, you need to harness the valuable TV data you can gain from the competitive analysis.
Competitive TV analysis can help you develop a more effective TV ad performance with an accurate analysis of your competitor's TV marketing strategy.
7M Discovery is an excellent analytics tool that can help you gain an edge in competitive markets due to its ability to search, compare and monitor your and your competitor's TV mentions. Benefitting from contextual data unique to your brand will set you apart from your competitors.
Access video-level contextual data for programming across the top UK channels and find when relevant mentions are happening on TV.