How Do You Conduct Competitor Analysis
now that you have a good idea of who your target audience is and what they're talking about online, it's time to see what the competition is doing wrong. Once you know who your competition is and what they're offering, you can help find gaps in the market and make sure you cover them in your website content so that you're presenting unique solutions to your customers problems. The chances are you can probably name a couple of your competitors, but take the time to really identify key competitors for your brand. Note down the companies offering similar products or services working in the same location as you or even overlapping with your business as this. Still puts them in a position to take market share, then focus on about four or five in depth in our online world. It is easy to start finding information about your competitors. Once you've identified them, start with their social media profiles, how are they talking to customers? What topics are they covering? How many followers do t...
hey have, take a look at their website and see how they sell their products and services, how they tell their brand story and interact with customers. This all helps you position yourself in the market and develop your own tone of voice and way of interacting with consumers. For example, if you have a financial services company that works with small to medium sized businesses and your key competitors are all addressing your customer concerns in a formal and professional way, perhaps there's a chance for you to be a bit more friendly and approachable. That takes financial jargon and explains it clearly. So everyone can understand, compare the companies to each other, see where they overlap and where they differentiate. This can help you assess if there are any gaps in the market, they aren't covering. You may even want to perform a swat analysis. This is where you note down four key elements in your company or in your competitors companies and get a really in depth look at the marketplace. Swat stands for strengths. What does your company do well, what do you provide that? The competition doesn't weaknesses. Are there areas where your competitors perform better than your company opportunities? Are there emerging trends or changes in competing companies that could benefit your company over the long term threats, which trend or competitive activities could cause disruption in your business. This can reveal consumer or market changes that you can leverage for your business or reveal vulnerabilities in your competition's business. There are also great online tools you can use to analyze their website, You can see how well their ranking online, how many visits they're getting, the organic keywords they use. You can analyze their back links and how effective they are and their page loading speed. The likes of Neil, Patel sem rush and spi fu are a great starting point. They often give a small excerpt of information for free with more in depth reports available. If you want to pay with all this information, you can start to build up a picture of the market landscape and what you will do differently on your website. To stand out. Now you've done all the background work. It's time to go in depth with the research and start honing your copyrighting. Take the quick quiz and then let's dive in to SEO keywords.