What is Competitive Analysis?

Competitive analysis analyzes your competitive websites and evaluates their strengths, weaknesses, opportunities, and treatments (SWOT). This helps the marketers to structure a competitive plan. This involves: Links Research, Keyword Research, and Content Research.

Importance of Competitive analysis

  • To distinguish the strength and weaknesses of your competitors
  • Competitive plan to instill distinct benefits
  • A gate to prevent opposite competitors from getting into your business
  • To prevent exploiting your markets weak spot

Six Steps for performing competitive analysis

Choose your Top Competitors

Knowing your competitors will increase your chance of ranking higher.

  • Select few competitors for analysis
  • Use local competitors if your business is local

Describe Each Competitor

The description you select to outline your competitors ought to be significant to your business and must help to apprehend what you are up in opposition to according to your standard resources. Some tools help in describing your competitors.

Describe Their Competitive Offering

Describe your products and services offered in your website content.

Summarize Their Online Presence

If you want to know your competitor's online presence data, then you can use Google PageSpeed insight and SEMrush. Examine their website and discover what they offer.

List and Identify their SWOT

SWOT refers to the strength, weakness, opportunity, and threat of a business:

  • With an accurate idea of your competitor’s business attributes and online presence, you could prepare a listing of their strengths.
  • Weaknesses must be considered within the context of the business wherein you compete. Make sure to list the weaknesses of their online presence.
  • You could benefit from a totally quick gain if they have a vulnerable online presence. Know your competitor’s organic keywords.
  • Opportunities will occur primarily based on the listing of weaknesses.
  • Broaden educational content material If competitors do not offer any content
  • There can be a few competitors who are ambitious that can be a threat to your company.

Content and competitors

Targeting a similar audience as your competitors and business matches, even the content seems similar.

  • Find Content gaps: The content gap is the user’s search query and the results they come across. You can find the content gap in four steps:
    • Through Keyword ranking
    • Through keyword research
    • Through Competitors analysis
    • With the help of a DemandJump tool
  • Find competitors most popular content: To see the most popular content of your competitors, use these four tools:
  • Find Competitors most linked content: with the help of the backlink analytics tools find out your competitors most linked content. Monitor those links to catch up with your competitors.
  • Find competitors PPC keywords: There are tools for every content as well as research. Here are some tools to find PPC keywords of the competitors.
  • Learn from competitors’ PPC ads: To analyze competitors’ PPC ads you need to observe your competitors by learning their techniques and using them in your website. Following are two tools to help you out.
    • Google Adwords
    • Bing Ads Auction Insight

Benefits of Competitive Analysis

  • Knowledge of the market
  • Higher focus on the clients taste and preferences
  • Business ability forecasting
  • Financial fluctuation monitoring and managing
  • Product monitoring of your competitors
  • Helps in knowing the pricing of your competitors
  • Business opportunities based on your competitors weakness
  • You will know what your target audience desire

Tools for Competitive Analysis

  • UberSuggest
  • Spyfu
  • Quicksprout
  • Alexa
  • Google advanced search operators
  • Siteliner