Competitor Analysis

When it comes to creating your digital marketing strategy, competitor analysis is a significant first step. No wonder, when it comes to digital marketing success, it is crucial to know your competitors online.

At Softvira, we perform deep competitor research, across several social media platforms, and websites, helping you in assessing their strategies, weaknesses, and strengths.

What is market research in digital marketing?

Competitive market research is all about finding and comparing key market metrics and assisting in distinguishing your products and services from your competitors. In other words, it is an act of profiling your competitors by gathering their basic information.

It helps in building a foundation for our sales and marketing strategies which helps the company to beat their business rivals and be different from its competitors.

What is Competitor Analysis in SEO?

Competitor analysis, also referred to as competitive analysis, is the process of identifying and researching competitors and their marketing strategies in your industry.

SEO competitive analysis is an effective and efficient strategy because you don’t have to start your research from scratch. You can just see what your competitors are performing and simply apply it to your SEO efforts.

Implementing stronger business strategies, apprehending market shares, and beating off competitors are a few benefits of applying competitive market analysis strategies.

Why is it important? And how is it beneficial?

When it comes to analyzing competitors, the importance of being proactive instead of reactive is crucial to your business’s success. The purpose of competitor analysis is to understand your competitor’s weaknesses and strengths, to find a gap in your market, and identify their potential opportunities which you can use for your benefit.

A competitor analysis strategy serves as the foundation on which your digital marketing plan is built. It enables us to rank high on industry trends and assures us that our products and services are exceeding, and fulfilling industry requirements.

Let’s put some light on a few other benefits of conducting competitor analysis:

It enables us to find the information which is critical to stay relevant and ensure that your products and marketing strategies are outperforming industry standards.
Inform us where competitors are lacking- which provides the areas of opportunities in the marketplace, and to try unique and new marketing strategies from which they haven’t taken advantage.
Provides you with a benchmark against which you can measure your success.
The competitive intelligence you get from proper competitive analysis will help you to identify your areas of weakness. Those would be the areas where your competitors are outperforming you.

KEY FACTOR

Recognizing those places will provide you with a roadmap for how to enhance your SEO strategies.

Help you to identify your product’s unique value proposition and what makes you different from your competitors.

What comes into Competitor Analysis? And how does analyzing Competitor’s Strategy help in SEO Strategy?

Knowing your competitor’s strategies and taking advantage of them is one of the best practices of SEO strategy.

1) Content Analysis:

Content analysis is an off-page factor. While conducting content analysis looking at your competitors’ pages and their content is necessary to evaluate on-page factors.

You can also read our blog: How SEO friendly content helps in the SEO of your website.

2) UX/UI Design Analysis:

To identify areas of improvement for our clients, we look at the competitor’s site’s design, navigation, functionality, and overall user experience.

3) Link Analysis:

To rank high on SERPs, it is necessary to dig into a competitor’s impressive backlink profile to learn some lessons from it.

4) Data-driven Insight:

We prefer to take advantage of sophisticated analytic results instead of creating strategies based on assumptions and best practices.

5) Site Structure Strategy:

Analyzing a competitor’s site’s structure can be helpful for some new sections on your website. Understanding how your competitors set up the scale of their site and the linking they use in their content, will give you the idea of which page they view as important.

Also, examining readability, key element position, mobile versions, e.t.c will give you a good idea of the structure of your site.

6) Keywords Strategy:

A keyword strategy contains every decision based upon your findings in your keyword research projects. It is all about how to rank your keywords now or in the future.

Competitor keyword analysis assists us to be more focused on our content creation. You can know which keyword the audience is looking for, which competitors are creating keywords for that content, and how hard it will be to outrank them while creating content.

Competitors are the Big learning point!

Competitors can be the biggest source of learning for us in SEO strategy.

Let me tell you, HOW!

Before working on our SEO strategy, we always prefer to put some light on what our COMPETITORS are doing. No matter if our competitors are doing well or worse, in both scenarios there is always something to learn from them.

If they’re doing great then we can learn those useful techniques and strategies which rank them high and in case competitors are not doing well then it doesn’t mean we should not consider them. looking into them will help us to fill those gaps, and work on those mistakes and weak points which make them unsuccessful.