Competitor Analysis is the most important for the business, This is the smart way to analyze the areas for improvement and the opportunities. We need to know who is our competitor so that we can easily achieve more than your competitor.
What is Competitor Analysis?
The Process of collecting and analyzing the data and the information about your competitor in a legal manner to enhance your decision making in the business.
Research the information about your competitor that are available in the public domain and also you can google the product or service your competitor are offering to get the competitor list.
Analyzing your competitor will help you to understand
The current threats in the market
To identify the opportunities
To analyze your competitor’s weakness.
By researching your competitor you can able to find the below information,
The website look and the website loading time.
Social media presence.
Organic visitors count.
The keywords for which your competitor domain is ranking.
The services which your competitor are offering.
How to do the Analysis
There are many tools available on the internet providing insights and reports for your competitor domain. Tools like Google page speed insights, GT Metrix, SEO tools like uber suggest, Semrush and the keyword planner tool will give you the complete report on your competitor websites speed, organic keywords, backlinks, organic visitors, domain authority.
Data collection
After knowing the competitor then the next step is to collect the data about them. In the current digital world, the online presence is most important. Analyze your competitor presence in the digital medium such as website, social media platforms, SERP (search engine results page).
Analyze their presence in the digital medium and get the answers below.
- Website User Interface.
- How often they post the Blogs
- Paid Advertaisement
- Followers in the Facebook, Twitter, Instagram.
- How frequently they post the content in the social medias.
Once you have collected all the data you need to analyze and compare it with yours. After completing the Analysis identify the areas where you need to improve yours.
Conclusion
By doing the competitor analysis there is no benefit, we can analyze where our competitor leads and we are lagging so that we can have the improvement and we can stand ahead. Doing the competitor analysis from time to time will help you stand out from the crowd. Having the knowledge about your competitor can serve with a great deal of power.
