Competitor Analysis: a Modern Tool for Increasing Profitability and Brand Recognition
Viktor Mikheev / 03.10.2017964
How many times you’ve struggled to make a profit but couldn’t succeed? Perhaps, the solution is to look closely at what your competitor websites are up to. To do so, we need to perform depth competitor analysis.
What is competitor analysis? Let’s say, you’re selling household appliances. Your products are hardly unique as many other shops sell similar stuff. And if they’re doing better than you, there’s a good chance they know and do something you don’t, and you can learn it from them. How do you find that out? By doing competitor analysis.
In the Internet marketing, competitor analysis is a comprehensive research on the traffic sources, SEO process, and content policy of your competitor.
How We Do Competitor Website Analysis
There are two main approaches to how we do competitor website analysis - basic and in-depth. Both are great for their purposes - the choice is solely up to you.
Basic competitor analysis:
- Website traffic analysis. Allows you to find out how many people visit your competitor’s website monthly and where they come from: direct visits, organic search results, PPC ads, social networks, referral programs, or email marketing campaigns (in both absolute numbers and percent).
- Competitor keyword analysis. This is how we find out what keywords your competitors thrive on with all the traffic they get. By doing so, we are able to create a better semantic core (basically, keywords) for your website or improve the existing one while segmenting it properly for the landing pages.
- Competitor backlink analysis. This type of analysis gives us all the information about your competitor’s link mass - who links to his website and what the quality of the links is. Also, we may try to see if these links are right for the given niche. All things considered, SEO analysis of your competitor can never hurt, can it?
- Competitor contextual advertising analysis. You’ll see what keywords your competitors and niche leaders use for their contextual advertising campaigns in Google AdWords or elsewhere. How can you use this data? To improve your current or potential advertising campaign and get a better insight into your competitor’s actions.
- Defining your niche leaders and direct competitors. Before going all in, it’s a good thing to know what you’re up in terms of competition. Who is the niche leader (a long-term goal) and who’s the direct competitor (short-term goal)? This information will quickly get you up and running - ready to fight for your place under the sun.
- Recommendations for the future activities regarding the analysis results. You can use this as a template for your future marketing plan or pick the ideas that you deem worthwhile. Please note that this is not a ready-to-go marketing plan.
- Prioritizing recommendations. This will serve as a nice addition to the list of recommendations mentioned above. All recommendations can be divided into 3 categories: top-priority, medium-priority, and low-priority. The first ones are, obviously, blockers - can’t go anywhere unless you rectify them. The medium-priority activities are the ones you should do once you’re done with blockers, and the low-priority activities are optional.
In-depth competitor analysis:
Includes all the components of the basic analysis + bonus features for the winners who want to everything about their competitors: website content analysis, social network content analysis, brand reputation monitoring (mentions, reviews, customer feedback, etc.), and usability report.
What are the benefits and downfalls of the competitor analysis?
So, when you have all these dossiers on your competitors, what to do next? Put them out of business, that’s what!
With a comprehensive competitor analysis from Zwebra company in Canada, you will:
- Learn all the strengths and weaknesses of your competitors
- Uncover the strategy, advertising campaign features, and keywords of your competitors
- Formulate your plan of action
- Define the areas worth going in and the ones that are better to stay away from
Most marketers would agree that such service as «competitor analysis» has become more than just a gimmick. For many successful companies, it’s the key thing in surviving the competition. Neglecting it can potentially result in a risky situation for your business.
Zwebra specialists have helped dozens of companies put their competitors behind by studying them from front to back and coming up with a solid strategy.
If you’re out there promoting your own website, there’s hardly any other method that can match competitor analysis for its effectiveness.
If you’d like to learn more about the service or have a question, please write in the comment sections below - we’ll get back to you in no time!
To order a competitor website analysis, please submit your request here.