To successfully outmatch your potential competitors, it is advised to keep updated on your challenger’s online move and strategies. Monitoring competitor’s online models are among the most significant aspects of analysing your competitors and weighing your strategies and actions against the opportunities and threats.
HOW TO ANALYZE A COMPETITOR’S ONLINE MODEL?
It doesn’t matter what business you are in, performing competition analysis is a necessity. With companies competing to establish and gain the attention of the audience, the competition is fierce. If you’re not doing competitor analysis, here’s the good news – it’s easy to get started. With ample resources on the Internet, you can easily find information regarding a company’s marketing strategies and approach. The details to hawk on in your competitor’s model are-
Search engine optimization SEO –
SEO is simply gaining the quality and quantity of traffic on your website. The better visibility and higher rank your pages have in search results, the more likely it will draw customers to your business. To know the ranking result of your competitors and use them to boost your game, Here is a useful tool –
Ahrefs’ Site Explorer contains effective features combined under one platform.
- Organic traffic research – Check for keywords that help your competitors to get a higher rank and look for pages gaining the maximum organic traffic. You can use this to Gather potential keyword possibilities for your business.
Research Organic Traffic-
See what keywords your competitors rank for. Just enter their websites in Site Explorer and browse the “Organic search” section of the reports.
Ahrefs monitors over 150 million keywords, so they have enough coverage to paint an accurate picture of websites’ organic search traffic.
- Backlink checker – Notice websites linked to? your competitors’ sites and estimate the quality of their backlink profiles.
To dissect the backlink profile of a certain website, just put the URL into Site Explorer and navigate to the “Backlink profile” section.
- Paid traffic research – learn whether your competitors are using paid traffic and identify sources such as Google ads, Facebook ads.
Research paid keywords-
Do you want to know if your competitors are buying PPC ads and what keywords they’re bidding on?
Navigate to the “Paid Search” section of the reports to get all the details.
Content Writing –
Content being the king, your website is as good as nothing if the content you are presenting to the audience isn’t appealing. Growth lies in knowing the strength of your competitors and taking advantage of their weaknesses.
A tool that can push your analysis further and help you keep a continuous check-
It is a monitoring tool for competitor’s content and keywords. Buzzsumo is a powerful tool that enables you to analyze the best performing content of your competitors on the number of social shares. The tool estimates the overall performance of competitors’ keywords and content and checks out how many mentions your competitors’ have gotten.
Suitable topic: It helps you find relevant topics that are trending and also covered by your competitors.
Know the share: Apart from potential topics, know where your competitor’s content is gaining maximum shares around the web.
Setting your content bar high can help you overshadow the rest of the challengers.
Email strategy to engage people and grab their interest among the number of emails from your competitors also. To stack up against your competitor, sign up for their email newsletters, and analyze them on points like frequency, arrival date, time, and custom design it.
A competitive analysis tool for email strategies is-
- You can modify your emails by looking at the collection of emails by your competitor campaigns. It also offers tons of email samples to get you motivated.
- Stores data such as subject lines, frequency, and timing. Provides you with comparison to self analyze.
- Know when your competitors are sending emails and then choose your right time and best strategy.
Apart from Mailcharts, multiple other online tools can be used like Owletter.
Interacting with your audience and expanding your coverage to other platforms to showcase your maximum potential is just as important as the quality of service you offer. Learning and implementing the same social media strategies as your rivals may not work for you but knowing their usage of the platform will prove beneficial in expanding your reach.
Few tools to analyze the competitor’s social media –
- Keyhole is an online competitor analysis tool providing you an effective way to compare the social media strategy of your competitors and evaluating your position against them.
- This tool introduces you to trends of hashtags used by your competitors. Know if people are using hashtags of your competitors and the context in which they are used.
- Other than just platforms and tracking their activity, gain insights about the influencers used by the company and their input for the brand.
- Know more about customers ‘ feedback on your competition and why people give an edge to them.
Each of these competitive analysis tools will effectively reduce the time and effort needed. But after you run the numbers, keep in mind to analyze your actual competitors, for example, A local shoe seller with 500 followers shouldn’t compare with the number of followers of Nike or Puma. Do check what the biggest company in your field is doing but focus more on competitors with similar size and audience.
After checking the details to gain valuable insights into your competitor,
you can review your strategies and modify them.
Competition can never be vague, it renders your paths of opportunities and informs you about the consequences of decisions made by your challenger.
Wasting all your time and effort hawking over someone else’s model isn’t appealing but knowing the smartest and efficient way of execution can push you towards greater accomplishments.
Are you looking for any help to enhance your marketing strategies, click here to consult with us- insellers.