What Is Competitor Analysis
A competitor analysis service is a digital marketing service provided by an competitive analysis agency or experienced analysis consultant, helping companies identify, compare, and contrast market competitors via research and evaluation projects and tasks.
Competitive analysis services refer to competitive intelligence to determine the strengths and weaknesses of a company’s market competitors.
Competitive analysis is a method of assessing and objectively determining the strengths and weaknesses of a company or brand against that of another brand or company. There are many things you can do and lots of things you shouldn’t, but the complex tasks become easier with the help of competitive analysis software and web development.
Why Is Competitive Analysis Important?
Competitive analysis is essential to marketing and strategic management methods that identify opportunities and threats and help to understand the strengths and weaknesses of your competitors and identify gaps in the market. Analyzing your competitors is vital because it will identify ways to improve your business strategy.
Competitor Intelligence Is A Critical Component Of Business Operations
A Competitive analysis roadmap is an output from looking at the competition to understand their strengths and weaknesses, how they do business, what makes them successful, and how you can emulate their success for your company. We will choose the right industry and niche market strategy to get the most out of the research from assessments and gap analysis.
Competitor Intelligence For Digital Strategy
Our analytical experts offer competitor intelligence services to help guide the digital process. The website assessments and audits will provide data to plan the optimization process in the digital strategy.
After the strategy is formed, the web development starts just before the SEO optimization to clean the code and make the web server and website faster. After technical optimization, measuring the data begins and is ongoing. The last phase is proactive reputation management to provide brand identity and protection.
Do you know what your competitors are doing? If not, you’re at a disadvantage.
Competitor analysis is studying your competitors to find out what they are doing that is working well and what areas you may be able to exploit.
Advantages Of Conducting Competitor Analysis
Do you know what your competitors are doing? If not, you’re at a disadvantage. The advantage of competitor analysis is studying your competitors to find out what they are doing that is working well and what areas you may be able to exploit.
- Beating your competition on cost
- Product or service differentiation
- Organic traffic acquisition
- Exploiting the deficiencies in their digital marketing strategy
- Forecast market potential
- Monitor the economic climate
- Track competitor products
- Increase conversion rate
By understanding your competition, you can position your business for success and stay ahead of the curve. This blog post will discuss the benefits and advantages of competitive analysis and how it can help your business grow!
Benefits Of Analyzing Competitors
One of the benefits of conducting competitive analysis is that it can help you forecast market potential. By understanding what your competitors are doing, you can better understand the market size and how much room there is for growth.
Additionally, competitor analysis can help you monitor the economic climate and track competitor products and services. This information can help plan your product launches, new service offerings, plan for new office locations, and marketing campaigns.
Another critical benefit of the competitive analysis is increasing your conversion rate. By understanding what your competitors are doing well, you can mimic their tactics and improve your chances of converting leads into customers.
By exploiting the deficiencies in your competitor’s digital marketing strategy, you can steal their market share and gain more organic traffic! Understanding what they are doing well can help you position yourself as a leader in your industry while also identifying areas where they may be vulnerable.
Competitive analysis is a powerful tool that should not be overlooked.
We Will Analyze Up To Three Competitors
All companies should make a competitor list to stay ahead of today’s growing Internet market competition.
A digital marketing competitor list contains the contact information of your direct competition, their business description and address, website URL, and much more. You can use this information to build a solid competitor analysis plan that focuses on maximizing the strengths while covering the weaknesses in their online business model.
The most significant advantage is that you can identify their strengths and work to counter them with yours so that your business gains a decisive advantage over your direct competition in organic search results.
Do You Know Who Your Online Competitors Are?
If not, you need to start doing some competitor research! By compiling a detailed competitor list, you’ll be able to perform a comprehensive competitive analysis that will help you understand your rivals’ strategies and develop winning tactics of your own.
Well, any website that ranks in the top 10 search results for your target keywords is a good place to start. Once you have a list of competitor websites, it’s time to dig into their strengths and weaknesses.
- What keywords are they targeting?
- What content is resonating with their audience?
- And what marketing strategies are they using that you could borrow (or improve upon)?
- By understanding your competitors inside and out, you’ll be in a much better position to overtake them in the search results.
- Do you have any questions about competitor research or compiling a competitor list?
Gather List Of Top Competitors For Competitive Intelligence
A competitor analysis list is where you research all your possible competitors, identify their strengths, weaknesses, target markets, etc., and compile a report of critical points.
The detailed examination lets you understand your competitors’ strategies and develop winning tactics!
Also, by doing so, you’ll be able to create solid digital marketing strategy plans that enhance your competitors. This competitor list may include any URL listed in a top 10 SERP for a query.
Steps For Competitor List Creation
- Start by compiling a list of your possible competitors, including any website that ranks in the top ten search results for your target keywords.
- Evaluate SERP features (Local, Knowledge Panel, Ads, Carousel)
- Identify competitor website URLs.
- Identify their strengths and weaknesses by exploring what content resonates with audiences on competitor websites.
- Extract competitor keyword targeting from on-page optimization and title tags.
- Analyze competitor content marketing strategies by identifying popular topics/titles and social shares.
- Compare website design and user experience against your website.
- Identify competitor backlinks and disavow any spammy links.
- Analyze competitor website speed and mobile friendliness.
- Conduct competitor research to gain insight into how they’re marketing themselves online so that you can develop winning tactics of your own.
Competitor research is an essential part of any successful digital marketing strategy. Compile a detailed competitor list, and you’ll be able to perform a comprehensive competitive analysis that will help you understand your rivals’ strategies and develop your own winning tactics.
By understanding your competitors inside and out, you’ll be in a much better position to overtake them in the search results.
Best Competitive Analysis Software Tools
- Deep Crawl
- Google Advanced Search Operators
- Keyword Competitor
- Link Research Tools (LRT)
- Rank Signals
- Screaming Frog
- Social Blade
- Visual SEO Studio
What To Look For In Competitive Gap Analysis
- What to look for in keyword gap analysis
- What to look for in content gap analysis
- What to look for in backlink gap analysis
- Competitor intelligence is a critical component of a business
- Up to 3 competitors
- Technical website audit
- Content audit
- Internal link audit
- Inbound link audit
- On-page keyword audit
- Internal link anchor text audit
- Inbound link anchor text audit
Keyword Gap Analysis
What To Look For In Keyword Gap Analysis
A keyword gap analysis service is a digital marketing service provided by an keyword gap analysis agency or experienced keyword research consultant that helps companies identify missed keyword opportunities for content and anchor text via keyword assessment projects and tasks.
Top Keyword Analysis Opportunities
Identifying keyword gaps will give you an idea of what you should focus on to generate more traffic and potential customers.
- Shared keywords
- Missing keywords
- Weak keywords
- Strong keywords
- Untapped keywords
- Unique keywords
- All keywords shared by competitors
- Total keyword overlap
- Common keywords
- Competitor unique keywords
- Your unique keywords
- Mobile vs. desktop (emphasis on mobile)
- Comparison of subdomains, sub-folders, and URLs
A keyword gap analysis is used to discover the keywords being searched for online with your domain name, URL, or Class C IP address and your top competitors. Assessing keyword gaps enables you to identify profitable keyword phrases and raise your rank in the SERPs (Search Engine Result Pages) by implementing them into your website.
Content Gap Analysis
What To Look For In Content Gap Analysis
Content gap analysis compares critical content metrics of at least two domains. There are many reasons companies use this method of ranking their web pages.
Website visitors and potential clients are looking for content. Websites often fail to provide a quality user experience because of poor content quality, timely updating, and lack of technical SEO tactics such as structured markup.
Content improvements for user experience and share of voice are the main reasons companies use this method. To identify the content issues plaguing their website, they take a content gap analysis and fix the problems as soon as possible.
Top Content Analysis Opportunities
- Semantic topic
- Semantic topic category
- Content page structure
- Keyword TF-IDF (term frequency, inverse document frequency)
- Topic density
- Keyword-related contextual topics
- Keyword related FAQs
- Inbound anchor text links
- Internal anchor text links
- External anchor text links
- Readability score
- Entity “things” and word “strings.”
- Knowledge Graph
Backlink Gap Analysis
What To Look For In Backlink Gap Analysis
A link building gap analysis, in simple terms, determines the number of links between sites and examines multiple metrics. The research will also reveal any negative links between the two sites and pick the success level of each link compared to that of other sites.
If a link-building campaign is unsuccessful, the link building gap analysis will provide many reasons for this failure. Link gap analysis is constructive when locating inbound links and anchor text acquired by competitors, and we can insert the findings into new link building strategies.
Top Backlink Analysis Opportunities
- Compare backlink profiles
- Root domains, subdomains, URLs
- Inbound anchor text
- Authority & quality Score compound metric
- Analyzed domain matches
- Inbound links point to all competitors but not your website
- Inbound links point to your website more than competitors
- Inbound links point to your website and not competitors
- Inbound links point to one analyzed domain
- Anchor text opportunity identification
Competitive Business Analysis Techniques
- Competitor analysis four corners
- Analysis of driving forces
- Industry analysis five forces
- Life cycle of product
- SWOT analysis
- Win-loss analysis
Do you ever feel like you’re always one step behind your competition? It can be frustrating, especially if you don’t know how to stay ahead of them. By understanding what your competitors are doing, you can adjust your marketing and sales strategies to give yourself an edge.
Analysis of driving forces
The study of driving forces is another competitive analysis technique that can help you understand your competitors’ strategies.
To complete this analysis, you’ll need to identify the five main driving forces in your industry:
- The threat of new entrants
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of substitutes
- The intensity of competitive rivalry
By understanding these five driving forces, you can better understand how your competitors behave and what strategies they may use to succeed.
Industry analysis five forces
The industry analysis of five forces is another competitive analysis technique that looks at the overall industry in which your business operates. This analysis will help you understand your industry’s competitiveness and the factors influencing competition.
To complete an industry analysis of five forces, you’ll need to answer the following questions:
- What are the main competitors in this market? Who do they compete with most (and least) directly? Which of these competitors has been successful or unsuccessful?
- What is the competitive intensity in this market? In other words, how competitively does each company compete for customers and market share?
- What are the bargaining powers of buyers and sellers in this industry? How easily can buyers switch to a different supplier or product, and vice versa?
- What are the threats posed by new entrants to this market? What competitive advantage does your company have over new entrants or vice versa?
- What are the perils of substitute products in this industry? Do these substitutes pose a real threat or just perceived ones (e.g., brand loyalty)?
Life cycle of product
The product’s life cycle is another competitive analysis technique that looks at how a product progresses through its life cycle. This analysis can help you understand your competitors’ strategies and what products they focus on.
To complete a life cycle of competitive product analysis, you’ll need to answer the following questions:
- What stage is your competitor’s product in? Introduction, growth, maturity, or decline?
- What is their competitive advantage over other products in the same life cycle stage (e.g., price, quality)?
- Is there anything unusual about your competitor’s product that makes it stand out from others? What are those differences, and how can they be used to your advantage?
- What strategies are most effective for competing in this stage of the product life cycle?
- What are the risks and opportunities associated with this stage of the product life cycle for your competitor’s product?
The SWOT analysis is a competitive analysis technique that helps you understand your company’s strengths and weaknesses and the opportunities and threats in the market.
To complete a SWOT analysis, you’ll need to answer the following questions:
- What are your company’s strengths? What advantages does your company have over its competitors?
- What are your company’s weaknesses? How can your competitors take advantage of your weaknesses?
- What opportunities exist in the market that your company can capitalize on?
- What threats exist in the market that could potentially harm your company’s competitive position?
The win-loss analysis is a competitive analysis technique that helps you understand how well your company competes against its rivals. This analysis can help you identify where you are winning and losing against your competitors.
- What competitive factors are most important to your customers? Quality, price, service level (e.g., speed of delivery), etc.
- Why do you think your customers choose your product or service over those offered by other companies in the industry? Is it because they perceive that their needs will be met better by using your company’s products or services?
- What competitive factors are most important to your customers, but you are not performing as well as you would like? Why do you think this is the case? Are these areas where you can improve and win back market share from your competitors?
- Which of your competitor’s products or services is winning against yours? Why do you think this is the case?
- Are there any competitive factors you are winning against your competitors but not getting as much market share from them as you would like? Why do you think this is the case, and what can be done about it?
- Is there anything unusual about your competitor’s product or service helping them win against you? What are those differences, and how can they be used to your advantage?
- What competitive strategies have been most effective for competing against your competitors in the past? Are these strategies still working, or do you need to change them?
Using competitive analysis techniques, you can better understand how your company is performing against its rivals and what you need to do to stay ahead of the competition.