Competitor analysis is a reliable ways for your business to gauge how well it is performing within your industry and against your competitors. It’s a process that many new companies undertake, only to abandon it once they have become established.
Some businesses simply lack the time to conduct a proper competitor analysis. Others are just too focused on refining their own best practices and strategies to notice what the competition is up to. Regardless what your reasons are, not analyzing your competition causes you to miss out on valuable information that could be aiding your marketing efforts.
The Benefits of Competitor Analysis
Competitor analysis will not only allow you to learn about the strategy of the competition, it will also reveal how your company can improve its inbound marketing strategy, as well.
A simple audit of some of your competitors can reveal:
- The keywords they are targeting (i.e. their SEO strategy)
- The content they are producing (and their reach)
- How they are interacting with their customers on social media
- How they funnel leads through the buying process
- The adwords campaigns they are running
- Where they are getting backlinks to their website
During your research you may also find new competitors who have not been on your radar in the past.
It Takes Time, But It’s Worth It
Conducting a proper audit of the competition does not mean simply browsing competitor websites and social media platforms. It requires your team to collect, organize and analyze a lot of data.
It’s a time-consuming process, but it is well worth it in the end. Using this data, you can find out what your business is not doing well, what’s working for your competitors and how your team can catch and even overtake them in Google search rankings, reach and performance.
There’s Even an Easy Way to Get Started
Competitor audits are just one of the many marketing services we provide to our clients. This is one we even do for free. All you have to do is contact our team today and we will run a full SEO analysis on your company as well as a competitor analysis on a few companies of your choice. We can tell you where you stand in your industry and where you can improve your efforts.
There are no obligations and no charges, all we will do is deliver you the results of our analysis. We’d love to get to know your company better, so give a call or email us today.