Competitor Analysis Guide
Are you seeking help understanding the basics of competitor analysis?
With this guide to Competitor Analysis, we hope to empower you by showing how you can understand what your competition is doing to perform well in search engines. With such insights, you can develop an approach to outrank the competitors.
Within this guide, you’ll learn:
- Approaches to competitor analysis
- Competitor analysis perspectives
By going through this guide, you will be in a better position, competitively, for outperforming your competition by understanding the use of competitor analysis.
The search market is competitive. If it wasn’t for competitors, you’d probably be getting all that web traffic from search engines!
Do you own a monopoly?
Since there is so much competition, competitor analysis has become commonplace for internet marketing. With competitor analysis, a business can better position themselves, and outrank competitors. By being aware of the visibility that is possible using today’s tools, you can be better prepared and improve your position as it pertains to outdoing your competition online!
When it comes to competitor analysis, there are many ways to go about it. For some people, competitor analysis is something you do when you construct a business plan. Those type of people are missing out on a lot of benefits and insights that competitor analysis can provide.
With competitor analysis, one of the most common approaches is to gather information about how well the competitor is positioned in the market. Since the search market is one of the most popular markets, competitor analysis can be focused-in specifically for how well a competitor is doing in the search market.
Do you know how to measure your competitors’ success online?
By understanding things about how well a competitor is positioned in a market, you can develop ideas and strategies for improving the SEO on your site. By either competing with a competitor directly or by curtailing your strategy to curtail the competition, you can make informed decisions for your business.
In the Handbook of Marketing Strategy the authors suggest that in identifying competitors, two approaches are possible. One of the approaches involves “demand-side based” while the other approach is “supply-side based”. By developing a couple approaches, you’re sure to gather a variety of competitor which might inspire your next idea.
Competitor Analysis Example
To illustrate the many uses for competitor analysis, it’s important to give an example. We will look at a competitor analysis example so that you can see exactly the use for doing your research and analysis.
Here is an example:
SEO Competitor Analysis
By understanding SEO Competitor Analysis, we can improve our decision making abilities as it affects SEO and digital marketing.
How many direct competitors do you have?
For example, if we noticed an opportunity to rank for a valuable keyword that the competition is using, we could develop our own improved version of the content, get the webpage indexed by search engines and start ranking for those new keyword terms.
Competitor Website Analysis
By conducting your research and performing competitor analysis, you will definitely want to ensure that competitor website analysis is a part of your approach. With competitor website analysis, you’re reviewing the competitor’s website by exploring the frontend and backend of the website.
How well are your competitors in terms of digital marketing?
Competitor Keyword Analysis
When it comes to keyword analysis, you can review which keyword search terms your competition is ranking for in search engines. By knowing this information, you can explore further to see how the competitor might be ranking for those keywords, and how to improve your own website in order to outdo the competition.
Which search terms are showing your competitors rather than your business?
Competitor Analysis Framework
With the framework we offer, you can apply a structured approach to your competitor analysis. Keep in mind, competitor analysis is something that you will want to perform regularly. With this competitor analysis framework, you can rest assured that the research and analysis is being done in a timely fashion, while helping you to inform your digital strategy.
Which type of framework have you been using?
Service Area Competitor Analysis
For local SEO, competitor analysis becomes extremely important. Since your direct competitors are local, you will want to review the service area of your competitors and perform competitor analysis based on each service area. For many types of local companies, this will mean that you will collect data about competitors based on how they rank in different “City searches”.
Which cities do you want to target, specifically?
With city searches, you might start by reviewing the suburbs of the city that you’re targeting.
Competitor Analysis SEO Reports
When it comes to competitor analysis, you will also want to consider how you will monitor the competition in lieu of ongoing competitor research. With the monitoring system, you can review changes in rankings (of your competitors) quicker and more systematic than what the competitor analysis framework provides.
How many reports would you probably need?
With the monitoring system, you’re going to want to consider developing competitor analysis SEO Reports. With these reports, you will be able to specify which keywords you’re monitoring, and then review the changes in keyword ranking positions (for the competitor’s website) in search engines.
Analysis of Competitor
Once you have a complete view of your competition, you can go one-by-one and perform an analysis of your competitors. For the analysis of competitor, you can review several things, including:
- How many organic search keywords the competition is ranking for in search engines
- Amount of organic search keywords you and your competition are both ranking for in search engines
- The variance in search positions between you and your competition (based on individual keywords)
Who do you have in the office that can help you conduct the analysis of your competitors?
By performing your analysis of the competition, you’ll be in a better position to start implementing new approaches to outrank the competition.
Sample Competitor Analysis Services
For competitor analysis, we often get asked for samples. Since our SEO Service helps clients to perform competitor analysis regularly, we’d be happy to provide you with a sample competitor analysis. Just reach out and let us know you’re interested in our services!
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