How to Perform A Competitor Analysis?
Information is key to success, whether you’re an Ecommerce giant or a fisherman, you need to be informed to be successful and know where the fish are. Competitor Analysis is simply seeing where the other fishermen are casting their nets and we’re here to help.
In this blog, we’ll look at the different types of competitor analysis you can conduct yourself, what information they give you and how you can use them to your advantage.
One of the best ways to get information and analyse your competitor is to get it straight from the source.
Through tools, such as Screaming Frog, you can crawl your competitor’s URLs, tags and meta titles & descriptions. This gives you a wealth of information like:
- What keywords are they targeting?
- Are their pages optimised?
- Do they have a strong URL structure?
If your competitor’s rank higher than you, being able to see their tags and meta titles & descriptions can give you an idea of how to improve your own tags and metas as these are ranking factors in Google’s algorithm.
Through tools like Majestic SEO, you can search for backlinks to your competitor’s site. Simply enter your competitor’s site into its search bar and you’ll be presented with a list of sites that link to them. Majestic SEO is a very good tool for this as it can provide you with the referring domains, the number of actual links and the authority of those relevant sites. How does this help you?
Finding where your competitors are getting their links, can provide you with opportunities to improve your site’s SEO and places to outreach your content.
If you’re looking to outreach content or news, you can see where your competitors have been doing the same and discover publications or blogs that look for similar content. Now you’ve got a new set of sites to target with your outreach that are in the same relevant industry and are high authority.
Through Google Adwords, you can search for keywords that you plan to target. You can see the average cost per click that other businesses are bidding for those phrases and how often those phrases are searched. Whether you’re planning to bid for those keywords or not through paid search, this is interesting information for your SEO strategy.
It will give you an idea of which keywords other competitors are targeting from an SEO perspective as well as PPC. It can be reassuring if you find you’re struggling to rank for keywords to know how competitive those phrases are.
It can open up opportunities for you as you can see phrases that aren’t being targeted as much or at all. If a keyword doesn’t have a suggested cost per click the it doesn’t mean they have no value. If they’re long term searchable phrases that are relevant to your industry, it could be worth your time and money to target those phrases with some content or optimisation. Even if those pages aren’t searched as much, because of how specific those phrases are, the quality of leads will be higher.
Are you concerned that you have competitors that you didn’t even know about? With plenty of startups and SME businesses popping up, you can’t really be sure who’s after your clients and customers.
A simple way to find them is to search the keywords and phrases you target, and see who else ranks for them. This is not a black and white solution to finding new competitors but it can provide some interesting results and help you to understand which business have a strong SEO strategy and are worth monitoring.
Knowing the strategy of your competitors is almost as important as your own strategy: it’s something we’re constantly checking for our clients. Should you want to understand more about our services, get in touch.