Just like setting up a business competitor analysis is important to understand who you share the space in your niece with a competitive analysis should be done in the digital world as well. You will need to understand the strengths and weaknesses of your competitors and the best way is to start a SWOT analysis. The result of this Strengths, Weaknesses, Opportunities, and Threats should be a base to start working on but it never stops.

 

“A wise man gets more use from his enemies than a fool from his friends.”
Baltasar Gracian, The Art of Worldly Wisdom

 

In your own world you probably will know who your competitors are, they work in the same city or perhaps in neighbouring cities but most likely not at the other end of the country unless you are an ecommerce and trying to sell your products online then suddenly you might have a competitor a few hundred miles away or even in another country.


Luckily for the majority of local business owners they only need to compete with other local businesses although these local businesses can be a major retailer with more budget and manpower and therefore much more difficult to compete against.


Still, it is absolutely possible when you understand the process of competitor analysis within the SEO market and understand where your business can excel because competitors are not using that part of your business.


It is essential to understand who you are competing against and what they do to get their website high in the search engines.


Question; How often did you go to the second page in the search engine after your search came up with results?

 

Answer; Indeed, almost none and that counts for nearly everyone.


Search Engine Result Page Statistics

Searching the internet on statistics show that Moz wrote a PDF on a research they have done and a whopping 71% of the traffic found a website on the first page to go to because that website looked most relevant to their query and only 6% clicked on the page 2 or 3 and the remaining did not find what it was looking for and changed therefore the search query. Here it shows automatically how important the meta description is but that on a side note.

 

Indeed, the webpage is from 2014 but there is no reason to suspect any difference now.

 

The image below comes from the PDF downloaded from Internet Marketing Ninjas which says it all. 

 click through rate vs position

 

All the studies show that it is important to be high in the search engine and what counts for you is also counting for your competitor.


No time to read studies

It is obvious that you do not have time to read all the studies although they bring a lot of interesting information but it is not information that is easy to absorb next to your daily life of running your business.


Still, a competitor analysis is a good thing and an ongoing thing. Your business does not stop and so is it for other businesses as well, they are all competing for the same spot and that is the first position.


The question is basically
a) How do they do that?
b) How can I rank higher than them?

 

Search Engine Result Factors

There are many factors to get a search engine result and that is for your competitor exactly the same. To get a good understanding of the search engine results we need to look at the keywords the competitors are using or find out where they are using the keywords that are relevant for your business.

You want to compare apples with apples and not with pears.


Competitive Analysis, Your Research

Conducting a research on all the businesses that sell the same products or services will take a lot of time, especially when you are not familiar how to do such a research. It is not just one search engine that you need to look at. Most likely you will look at Google because that has the most searches but do not underestimate Bing or Yahoo next to other vertical search engines in your niche.


Looking at Google alone, then there are multiple area’s where you can pop up like the search but also Google Maps, Local or Mobile.


Putting all that information into a spreadsheet and that just not for one day. You will need to do the research continuously to get a good understanding where you can excel, beat your competitor or just leave it because the effort that it would take to get high in the search engine for a particular keyword is just not worth the effort.

 

Keyword Competition Analyser

As part of the research you will need to conduct a keyword research. Collecting all the keywords your competitors are ranking for and analyse these keywords to see if they are competing with you and if not, then maybe it is a good idea to add that particular keyword to your keyword list.

 

For a DIY person there are indeed free competitor keyword analysis tools giving you good insight information and especially the answer if targeting certain keywords are worth the effort. How much time and money will be invested to get a certain keyword to the top of the search engines and if it is what the return of investment?

 

When there are only a few searches per month on that certain keyword then think about using the keyword in another way and do not try to compete with your competitor.

 

Competitor Website Audit

One part of the competitor analysing is the audit the website of this competitor. Understand the structure of the website and if it has any flaws.

 

The question will pop up how to benefit from the flaws in the website of a competitor. It sounds maybe a little nasty however in every sport people do the same. Look for the weakness of the opponent and use that for your benefit.


In the SEO world you will look for the weakness in your competitor’s website and make sure that your website is strong. A weakness can be for example bad reviews or they are not using Social Media in full. These weaknesses must be found and explored upon which you can create a plan to use your competitor to your advantage.

 

Backlinks

Part of the website audit is to check the backlinks of your competitors and see if these links are worth pursuing yourself.
All SEO specialist will say the same, the backlinks are an important part for SEO and an easy way to find backlink is by analysing your competitors website.

 

Analysing Never Stops

The analysing of competitors is not a one-off job. Your competitors are most likely also busy to rank their pages higher in the search engines. It is a continuous effort not only to analyse but also take action if needed.


We can help you with the analysing and monitoring and report on a monthly basis and if action is needed, we discuss this with you.

 

Take Action

Get in touch with us to discuss the options because there are many.

 

 

 

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