Competitive Analysis Website : Tips and Tricks You Can Use
Running a business is not an easy job. You need to provide good products and services, attract customers, and beat the competition. So, we won't blame you if you want to keep an eye out for what your competitors are doing. Actually, it is highly encouraged that you keep tabs on them and see what you can do to be better and different. One way you can do that is by doing a competitive analysis website on your competitors' sites.
However, performing an effective analysis on your competitors' sites is easier said than done. Fortunately, we are here to tell you how you can do it. Also, we'll show you how you can get the results you need to always be one step ahead of the competition.
But before diving into our bag of tricks, we first need to lay down the foundation. Let's begin!
What Is a Competitive Analysis Website?
A competitive analysis website is a process where you analyze your competitors' websites and study their online presence. By doing so, you'll gain insights into their marketing strategies and see if there's something they do that you don't.
Also, with this analysis, you can determine if there is a new opportunity for you to expand your business or improve your marketing strategy. And no, you won't be copying your competitors' strategies. You'll simply be learning what they do to attract and retain customers.
Moreover, by understanding your competitors' tactics, you'll be able to develop a better strategy for your business that will set you apart from the crowd. Many companies already do it, so there's no reason why you shouldn't either.
Tips and Tricks on Performing an Effective Competitive Analysis Website
You can abide by the following tips and tricks to perform effective competitive analysis and ensure your success!
Make a List of Your Competitors
The first thing you need to do when conducting your competitive analysis website is to identify your competition. You can do this easily by using one of the following three methods:
- Compile your list based on the competitors that are known in your industry and that you're already aware of.
- Do a Google search for your most relevant keywords and see which sites pop up.
- Use specialized software tools.
Analyze What They Say About Themselves
Now, it's time to open your competitors' websites and see how they position themselves on the market. Here, you need to analyze what they say about their brand and values.
You can do this by reading their tagline, which states what they do. Then, read their mission statements, which you can usually find on their "About Us" page.
Find Out Their Target Market
The next thing you need to do while conducting your competitive analysis website is to find out your competitors' target market. However, this is easier said than done. There are usually not enough materials on a company's website to discover this information.
However, some companies provide a customer list on their home pages, which you can use to identify which is their target market. You can also use customer testimonials to determine who their current customers are.
Analyze Performance and User Experience
One of the most important parts of your competitive analysis website is analyzing a site's performance and user experience. You can do this by asking yourself the following questions:
- Is the website easy to navigate?
- Does the website load quickly, and how quickly does it load?
- Is the text easy to read?
- Are the pictures clear?
- Does the website have any broken links?
- Is the website user-friendly?
- How are the menus and submenus organized?
Analyze Their Content
The content a website has is usually what makes people open the website and come back to it. So, it is imperative that you see what kind of content your competitors have. For example, some have blogs, podcasts, videos, etc.
No matter what kind of content your competitors have, you need to analyze which topics they cover, what kind of articles they write, and how often they publish new articles, videos, or podcasts.
Then, you can decide if your content needs upgrading or if there's something more that you can give to your customers.
The last tip that we'll give you is to analyze your competitors' SEO strategies. SEO is a powerful tool that can help your site greatly. Thus, by seeing what kind of strategies your competitors use, you can improve your own and rank higher on Google.
For this part of your competitive analysis website, you can use various SEO tools to gain insight into your competitors' strategies. You can see which keywords they use and which are the most successful ones, see what kind of links they use, and more.
Benefits of Competitive Analysis Website
Now that you can what to do to conduct a competitive analysis website, let's see how it can benefit you.
Firstly, it will allow you to improve your site. By seeing what your competitors are doing, you will gain insight into what works and what doesn't. That way, you'll be able to improve your site and make it more attractive to people.
Second, you can find new ways to attract visitors and generate leads. Namely, you can get inspired by what others are doing and find new ways to capture leads and increase your visitor numbers.
Lastly, you can see what your competitors are doing wrong and capitalize on that. Namely, if your competitors lack a certain feature or service, you can capitalize on that and be the first among your competition to offer it.
By using the tips and tricks we mentioned in this article, you can conduct a successful competitive analysis website that will provide you with helpful insight into your competition. Then, you can use that insight to improve your site and attract new visitors.
As you can see, you can benefit from this analysis a lot. So, don't waste your time and get on the competitive analysis wagon as soon as possible!