What is competitive analysis, and why should we care about it?
It would be best if you compare your competition as it relates to your Internet space. To have a winning formula on the internet, you need to know exactly what your competition is doing. Are they using particular keywords, or are they using particular social media, or are they using video purely on their website? Do they have podcasts on their website?
There are some great tools on the internet to take a look at your competition. I typically start a matrix using Excel, and I list the top 10 to 20 competitor sites to my client. I’ll review each site, and I search for their keyword list. I also use Woorank to look at the technology they’re using, the number of H1 tags they are using, and mobile-friendly. These are just a few of the features that Woorank offers you as a free user.
There is another website called Spyfu, where you can look at the competition and the crossover of keywords plus their traffic. Once you determine some of those key factors, the next is to look at their social media.
What social media are they using, and are they particularly active with that social media? In my experience, about half the competition uses social media; however, only about 10% actually post on their social media. None of them seem to understand how to use social media for marketing their particular website—the other thing to look at their use of video.
Video is a premium way to beat the competition!
Video is one of the most important and the simplest thing you can add to your website. You make your video and serve it through YouTube and then embed it back on your website. You can also put your videos up on your social media. For example, Facebook and Twitter are focused on video and trying to follow the trend that YouTube has already set in motion. Recently, Amazon has started a YouTube look alike, too, so we need to see where that goes.
The first things you should look at in competing with your competition are keywords and online keyword tools or even a great software called Market Samurai. It would be best if you allowed two and up to four weeks to find killer keywords that will bring you lots of traffic.
Once you have most of this in a matrix form, you can put together a winning internet formula for your client or yourself. And if you don’t do your competition analysis, you’re really not doing your client’s good service, and at best, you’re shooting in the dark hoping for the best. Success on the web doesn’t start with hope! Competitive analysis is a must in this age of the Internet and successfully placed ahead of your competition in a search engine results query.
Peter Brusso PhD.
Competition Analysis is one of the most important things you can do for your digital property. It’s important to understand what your competition is doing on the web and what technologies they are using. There are some major categories to consider when you do a competitive analysis.
Here is a picture of the area’s I consider:
As you can see, you should track if the competition is using video (people like to watch, not read), what social media they are using, finding their keywords, backlinks, their woorank score, if they have podcasts, an onsite blog, and finally track any notes you make on the site. All of this allows you to design your website to outperform your competition website.
Your digital property is becoming more important than your brick and mortar physical site. Over 80% of consumers today start looking on the web first for their needs, and 70% of those are using a mobile device to do so. Also, they are shopping for the best companies and deals. That is why it’s so important to understand what your competition is doing and how to “outfox them” on the web.
We can help with that, so the consumer choice is easy… your company over your competition! Contact us today for any help or questions.
Dr. Peter Brusso