Why is it important to analyze your competition, and how do you do it?

EliteWriter Level 2

July 28, 2016, 9:54 am

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Why is it important to analyze your competition, and how do you do it?

We all know that it is critical to analyze competitors, whatever service you are providing and regardless of the niche or line of business you are in. Your goal is to dominate your niche, and to do that you need to surpass your competitors. Besides you will also be able to see where they are doing well, and try to improve on that, and where they are not, and try to make the most out of that opportunity. So how do you analyze your competitors? Do you take this seriously? Are there any tools that you utilize to do such analysis?

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TommyCarey

I've always been a big fan of SimilarWeb for competitor analysis.

Here's the tip of the iceberg of features that they offer

Visitors/Traffic - You can pretty much spy on your competitor to see a pretty close estimate on how much traffic they've been getting for the last 6 months. It will show if their traffic has increased or decreased, which is pretty awesome

Engagement – This helps show the websites bounce rate which is helpful to figure out if people are actually staying on your competitors website. And we all know that a good bounce rate will help with your rankings because it shows Google, Yahoo! and Bing that people are staying on your website and reading multiple pages.

Traffic Sources – You can figure out where your competitor is getting their traffic from. You'll be able to determine what keywords they're getting the most traffic from and you can target them if you want.

Referring Sites – This will show you what websites are referring traffic to your competitor. You can see if it's from an ad, partnership, or affiliate which is pretty nice

I've actually used this in the past to find super affiliates for my own websites

Organic Keywords – This will obviously show exactly what keywords the competitor is ranking for in the search engines and sending traffic. They could be ranked for 1,000 keywords but only getting traffic from 10. If you know which 10 they're getting sales from, then you know what to target ;)

Paid Keywords – You can see which keywords your competition is willing to pay for to generate sales. You can determine which keywords are better to pay for than others. Don't waste your money on bad keywords.

Social – Social presence is a big thing now a days since more people are getting online. Social signals are difficult to track sometimes so using this feature will help relieve the stress lol. You'll be able to see what social platforms your competitor is getting traffic from. You can also check their pages to see what kind of content they're posting in order to get that traffic ;)

The only downside of SimilarWeb is that they aren't cheap. Their lowest priced plan is $199 a month. The other 2 packages they offer just say "Contact Me" where the price is suppose to be lol. So basically, if you have to ask, you can't afford it

I've always been a big fan of SimilarWeb for competitor analysis. Here's the tip of the iceberg of features that they offer :D [u][b]Visitors/Traffic -[/b][/u] You can pretty much spy on your competitor to see a pretty close estimate on how much traffic they've been getting for the last 6 months. It will show if their traffic has increased or decreased, which is pretty awesome :D [u][b]Engagement –[/b][/u] This helps show the websites bounce rate which is helpful to figure out if people are actually staying on your competitors website. And we all know that a good bounce rate will help with your rankings because it shows Google, Yahoo! and Bing that people are staying on your website and reading multiple pages. [u][b]Traffic Sources –[/b][/u] You can figure out where your competitor is getting their traffic from. You'll be able to determine what keywords they're getting the most traffic from and you can target them if you want. [u][b]Referring Sites –[/b][/u] This will show you what websites are referring traffic to your competitor. You can see if it's from an ad, partnership, or affiliate which is pretty nice :) I've actually used this in the past to find super affiliates for my own websites :D [u][b]Organic Keywords –[/b][/u] This will obviously show exactly what keywords the competitor is ranking for in the search engines and sending traffic. They could be ranked for 1,000 keywords but only getting traffic from 10. If you know which 10 they're getting sales from, then you know what to target ;) [u][b]Paid Keywords – [/b][/u]You can see which keywords your competition is willing to pay for to generate sales. You can determine which keywords are better to pay for than others. Don't waste your money on bad keywords. [u][b]Social –[/b][/u] Social presence is a big thing now a days since more people are getting online. Social signals are difficult to track sometimes so using this feature will help relieve the stress lol. You'll be able to see what social platforms your competitor is getting traffic from. You can also check their pages to see what kind of content they're posting in order to get that traffic ;) The only downside of SimilarWeb is that they aren't cheap. Their lowest priced plan is $199 a month. The other 2 packages they offer just say "Contact Me" where the price is suppose to be lol. So basically, if you have to ask, you can't afford it :D

8 years ago