6 key elements of competitor analysis that will help your business gain traction

6 key elements of competitor analysis that will help your business gain traction


Competitor analytics is a key part of any effective digital marketing approach, providing insight into how your competition tackled marketing challenges similar to yours, and what worked (and what didn’t) in their process.

Analyzing your competitors can help you better position your products and services in a specific niche or confront you with messages that leverage your strengths. And if you want to maximize your marketing, performing a competitive analysis is essential any time you launch a new product or enter a new market, industry, or vertical space.

In this article, I’ll go over six key elements of competitor analysis that will help your marketing efforts win.

What to watch and tools to use

But first, to effectively analyze the digital marketing performance of your competitors, you need the right tools.

In this context, you need applications that:

  • Examine website traffic, traffic growth, backlinks and their most popular pages
  • Analyze the content of their website, blog, as well as what they post on social channels
  • Provide insight into their advertising content on search engines and social media
  • Highlight keywords on their website, in their content and used with their campaigns

Some great and powerful tools that cover these elements are:

  • SEMRush – For SEO and website auditing, backlinks and keyword research. SEMRush Also offers traffic analysis and competitive intelligence add-ons that allow you to do much more in-depth research. Here are other good tools Ahrefs and Raven tools.
  • BuzzSumo – For content research. BuzzSumo can help you identify how well your competitor’s content is performing and how they are participating in digital question and answer sites.
  • FanPage Karma To find information about your competitor’s content and engagement, including what content was most popular with their audience, the channels and publication times that get the most engagement, the most popular topics and identifying questions and issues from their audience that may provide opportunities for your brand. FanPage Karma is a powerful analytical tool in this regard.

Here’s how to use these tools as part of your competitor analysis process.

1. Overview of traffic analysis

The first thing you want to look at is web traffic and how people find out about your competition – SEMRush can help.

You need to analyze traffic to competing websites to find out how many visitors they have, unique visitors, pages per visit, length of visit, and bounce rate, which tells you how much traffic your competition is generating. , if visitors find the content of the site useful enough. to stay on the site and what content is most popular.

You can also see how visitors are getting to your competitor’s websites.

TRICK: Identify source areas to inform search engine and social media advertising investment decisions, as well as influencer outreach based on what works for your competition.

One of the most important things you can learn here is which pages on your competitor’s website are the most popular.

Seeing which landing pages work best for your competitor can tell you which products and services have a successful online presence, and which aren’t. It can inform your approach to marketing products and services and how to conduct your campaigns.

TRICK: For a campaign designed to take on a competing product or service that is popular, dissect the message on this page and find ways to differentiate your products and services. Consider promoting these posts using aggressive demand generation, such as search and social advertising.

2. Backlinks

Backlinks help build your domain authority and improve your rankings for topics other sites link to. Your brand’s SEO efforts should include a link building component, and tools like SEMRush and AHRefs allow you to perform backlink gap analysis to areas related to your competition, but not you.

This will inform and improve your link building efforts.

3. Social media

Analyzing your competitor’s social media activity can tell you which channels they are using for promotion, how they are positioning their products and services, and what content and messages have received the best reception from their audience.

It can also help you find gaps in their promotion strategy that may provide an opportunity for your brand.

Tools like Fan Page Karma can provide competitive intelligence on competitors’ social media activity.

You can see the channels they are using for promotion, how active they are, growing their presence on the channel, and how actively they are engaging with their audience.

TRICK: If you are targeting the same audience as your competitor, consider focusing your activities on the channels that have worked well for them.

You can also see what content they post, what topics they talk about, and which of those topics are of most interest to their audience.

TRICK: This information can help you identify the topics that the audience is most interested in, the questions they have, and the issues you can discuss to position the value of your products and services. Use this information to refine your content strategy, messages, and value proposition.

4. Keywords

One of the most important things you can learn from your competition is the keywords they use and rank for.

Your website and campaign content should focus on a set of keywords that will help your target audience find your site and content when researching the solutions you are selling.

Your competition will also use and try to rank for relevant keywords.

TRICK: Examine the keywords your competition is using to find industry-specific keywords where you might be able to rank higher in your site and campaign content, and to formulate keyword variations long tail that you can categorize and that sets your products and services apart from your competition.

Another great feature offered by SEMRush is the ability to report frequently asked questions related to keywords and domains.

TRICK: Develop lists of the top questions about the problems you solve and the products and services you sell, and create content that answers those questions. You can also take a more interactive approach and actively participate in Q&A sites and forums like Quora and Reddit and answer questions about the products and services you sell, and post links to your website content for more information. ‘information.

5. Advertising information

Analyzing your competitor’s advertising information can save you a lot of time researching and formulating critical line items such as keywords and advertising content, and help you position your products and services more effectively.

SEMRush can show you traffic estimates, keywords, and cost estimates for paid search traffic, display advertising, and ads for a product offering.

TRICK: The keywords your competition uses are a great starting point for keywords you can use for your brand and campaign. You might be able to successfully compete for basic keywords, but you can certainly use this information to choose long tail keyword variations that work well with your brand, product and product value proposition. of your services.

You can see the changes in the position of the keywords used by your competitors.

You can even see the competitor’s ad copy.

TRICK: Seeing how your competition is promoting their products and services shows you how they are positioning their offerings, allowing you to create a website and ad copy to position yourself differently, pointing you to a slightly different niche.

6. Content analysis

When you analyze the best content from your competition, you can see if similar topics are suitable for your brand and gauge the types of content their audience enjoys consuming.

You may also discover gaps in content coverage and frequently asked questions that your brand can then address in their content campaigns.

Also take a look at their underperforming content and try to determine why it didn’t resonate.

TRICK: Analyze competitor content in order to find the best way to differentiate your content and messages to stand out favorably from the pack. Do a deep analysis to find trends and see if the audience prefers longer or shorter content, fundamental or deeper analysis, conceptual content or practical content, graphics, videos, images, etc.

Conclusion

Regular analysis of your competition is important, as it’s like looking at the other team’s playbook before you go out on the pitch. It allows you to develop a campaign strategy and message that differentiates your products and services, accentuates your strengths and positions you to win against the competition.

If you haven’t done a competitive analysis, it’s worth taking a look, and these tools and tips will help.



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