Web-based business owners who want to stay at the top of their industry understand the importance of competitor analysis.
But how to go about judging the competition? We’ve already discussed evaluating your competitors’ website design and content, but here we want to focus on the analytics you can review. Understanding what is working well with the competition – and what isn’t – is a great step toward assessing where you stand.
If there’s one item you want to investigate, it’s this. Where your site ranks organically in comparison to competitors in your industry on search engine results is a clear indication of where you stand. If a competitor consistently ranks above you on keywords you wish to rank high for, it’s time to step up your game.
This post about increasing SEO rankings can help as you ramp up your search engine optimization strategies to bump yourself up above the competition.
Inbound links are a direct reflection of how well a site is viewed by others. Other sites linking to your content shows they see you as an authority site in your industry. Knowing how many inbound links are pointing to your competitor’s sites gives you an indication of how much effort you need to put into link building to compete.
Moz offers a way to look at what sites link to your competitors’ websites, as well as other great SEO features.
This is another good indicator on your competitive standing. Find out how many unique visitors your competitors are getting on a monthly or daily basis, then compare it to your own numbers. This is an area that really shows the importance of competitor analysis. Knowing your competitor’s traffic gives you an idea of the potential web traffic in your industry and a good goal to target.
Use Alexa.com to find stats on your competitors, including unique visitors. It’s not an exact number, but it will provide a decent estimate of competitor site traffic and other metrics.
Do a search on keywords related to your industry and find out which competitors have PPC ads running. This can help you find out the keywords that your competitors see as important enough to pay for. Knowing this can help you decide how much to integrate PPC into your own marketing efforts.
Because of the complexity of digital marketing, many turn to a full-service online marketing agency that offers competitor analysis along with a full plate of marketing services. Knowing where you stand with the competition is one of the key strategies to support success with your site.
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