Every business should aim to be the best they can – both online and offline. However, it’s the online world which can be a little trickier when it comes to knowing who your competitors are and what can do to outperform them.
Whether you’re looking to get ahead or looking to stay ahead, you need to check out these 4 Online Competitor Analysis Tips!
While this may not be a surprising first course of action to take, you might just be surprised to know that many businesses don’t know who their strongest online competitors are. This is extremely dangerous and leaves your business vulnerable to come off second best.
Most of the time, businesses assume they know all of their competitors, however, the online world has a vast difference in who you think your competitors are and who they actually are!
For more on this, you can check out our important blog post Your (Online) Competitors May Not Be Who You Think They Are!
1. Go to Google and type in one of your key product or service offerings.
For example, if you are an electrician in Sydney, then type “electrician sydney” into Google.
Or take it further by zero-ing in a particular area or suburb such as “electrician north Sydney” or “electrician Surry Hills”.
2. Take note of the returned results in Google, and even write down the top 3 results so that you can remember who your competitors are.
Once you have a list of your competitors and their websites (refer to step 1 above), then simply click on a competitor website to open it up.
Once you’re there, take a good look at some important aspects of their website which may help to position your website in relation to theirs or give you some ideas to borrow. These might include:
Pro Tip: It’s important not to be bias when doing the analysis process!
Checking out your competitors’ social media pages is a great way to see how active they are and how they like to engage with users.
By sifting through their content, you may also be able to identify popular social media posts and topics for you to cover yourself – either in your own social media channels, or even a blog or e-newsletter!
Signing up to a competitors’ blog feed or e-newsletter is a great way to see what content they are producing, how often they are producing it and how popular it is. Once readers are engaged with content, it is invaluable to being top of mind so check out what they are doing well and not so well and go for gold with your content marketing!