How To Effectively Analyze The Competition In Your Niche In 3 Steps For Beginners
With the rise in popularity of social media, it has never been easier to uncover your competitor’s weaknesses. The many successful participants in the internet marketing industry reflect the growing importance of competitive marketing analysis. This information has become more crucial than ever. Healthy competition is an essential component of success. Taking a peek at your competitors requires a little undercover work.
Step 1. Dig into Their Keyword Prioritization
Head over to your competition’s website and thoroughly analyze the keywords they’ve used. Dissect what keywords they are targeting and why. Carefully look for any hidden keyword prioritization patterns and compare them with those on your site. You’ll have to dig deep and start to improvise to beat your competition at their game. You can identify the keywords being used by utilizing the online tools, SEMRush (https://semrush.com/), SuggestMrx (http://suggestmrx.com/index-en.php) and Ubersuggest (https://neilpatel.com/ubersuggest/).
Step 2. Breakdown Your Competition’s Rankings
For in-depth comparison, it is imperative to break down your competition’s rating on Google and other search engines. Monitoring their rankings is easy to do when you utilize these online tools, SERPs Authority labs (https://authoritylabs.com), and Positionly (https://positionly.com). These tools are perfect for their comprehensive filters and direct comparison features.
Step 3. Monitor Their Online Reputation
If you want to stay ahead of the competition, you have to continually monitor their online reputation as well as their visibility on the various search engines. It can get complicated if your competition works globally and you don’t. You can easily monitor their reputation by using various online resources. Some of the best monitoring tools that you can use are MOZ toolbar (https://moz.com/products/pro/seo-toolbar), CognitiveSEO (https://cognitiveseo.com/site-explorer/), and Majestic SEO (https://majestic.com/).
Gauging the performance of your competition is almost as critical as analyzing your own campaigns. It is essential to take the attitude that, like you, your competition is examining your business and the rest of their competitors.
If you don’t take the time to complete analytical market analysis on your competition continually, it can become increasingly difficult for you to survive in the heavy competition. This is even true if your competition is targeting different locations or niches than you. You need to figure out who can pose stiff competition to your own online business, or who can teach you something. You need to be sure to pay close attention to those in the industry that can show you something.