Competitor analysis - how to analyze competitors and outsmart them
Digital competitor analysis
Try to answer honestly if you know what your competitors are doing online? If you do not keep track of competitors, it can cost you a lot in reduced sales. Analyzing search results for clusters with keywords around your products or services can show who your competitors are. It helps you identify new competitors that you may not be familiar with.
Competitor analysis has evolved endlessly in internet marketing since marketing guru Michael Porter wrote his classic book "Competition Strategies" when the web was not even established. With digital tools, it is possible to see the competitors' best and most effective keywords and detailed information on how competitors get traffic to their website.
Check out what the competitors are doing online?
You need to monitor the internet to see if they are engaged in spying on your brand, spreading rumors online - or maybe they are scraping your prices so you always have a worse price? In highly competitive niches, we have seen competitors who have acted in a way that can be directly dangerous to your business and damage your sales.
GAP Analyzes and benchmarking of competitors
We can benchmark a website and pick out all the keywords that your competitor has. Analyzing your search share (the share of results for a product category owned by your brand) provides a good estimate of your percentage generated by your marketing against your top rivals.
Not infrequently, the result of a key figure-oriented approach is included KPI:s that the management receives support and also re-evaluates its marketing activities.
Read more about competitor analysis
Identify which competitors you have online
Which competing players do you have in the search results? It is important to research which keywords you rank on yourself but also which terms the competitors rank on and which they use on their site. We have researched several competitors' search volumes in several industries and see if there are any keywords that you missed on your site that are in line with your business planning.
Through Excel sheets with your keywords that are mapped to the competitors' keywords, we can identify if there are any keywords that are missing - which is a method called GAP analysis. By putting all the keywords in an excel sheet and picking up search volumes and marking duplicate values, it is possible to find out where you need to concentrate your content marketing.
We can also produce competitors' links where you can find suppliers, partners and customers. Through analysis of links, it is possible to find collaborations, partners and customers and see if there is anything you can do to increase your own digital presence.
Take traffic from your competitors
There are several different methods to pick traffic from your competitors. Start by identifying your competitors and how they get their traffic. Which keywords drive traffic to their site and there are keywords that have a lot of search volume each month.
Checklist competitor monitoring
There are many dangers to not having a digital watch on what competitors are doing and here are some examples that you should check out and which can involve huge losses.
- Which keywords use them and rank them on keywords. They get traffic on the keywords
- How strong are they online and in the organic search?
- What do their websites look like - are they professional and have a nice design and which USPs do they use? Are the sites easy to navigate
- How do the competitors work with links?
- What does the trend look like for me compared to my biggest competitors?
- How strong are they on the different digital channels?
- Are there high-traffic keywords that your competitors are not using?
- Do competitors use negative SEO against you?
- Do they spy on your brand. Run them Google Ads advertising against my brand? If a competitor starts advertising on the company name, it can be really hard and you miss many potential leads.
- What do their social media ventures look like?
- What does the SEarch Result Page look like and your serp?
- Are there any good links they have that you do not have?
- What anchor texts do they have in their link profile (they may use your company name)?
Competitor monitoring tools
There are a plethora of different ones tool to see what your competitors are doing and you can compare sites' key figures and performance between each other. Everything is open because it is available online and you can see how the competitors' websites and SEO works compared to your own website.
- You can also use Mailcharts to spy on newsletters and Facebook's ad transparency tool to measure Facebook ads.
Advanced Google searches that you can use to check your competitors
You can do a little more sophisticated searches on Google to find out what is said about a competitor or your own company
[expandtalk -site: expandtalk.se]
shows what is written where you exclude what is written on the website expandtalk.se and if there are positive articles.
There are different methods to produce the strongest links, ie sites that point to your competitors. It is often possible to find similar link collaborations.
Do you want help doing a competitor analysis?
It is complex to analyze websites if you do not have long experience of digital marketing and the web. Feel free to contact us if you want help to do a digital competitor analysis where we together analyze your website and get insights into what it looks like.
For larger companies, we also do KPI: measurements where we can compare the results with the industry and competitors to find potential for improvement. It could be that you have a website that is significantly slower than the main competitors or how the visibility of important business-critical keywords looks.