Because it allows you to obtain a global vision of your industry and with it, to know what market share you can aspire to.Because it allows you to have a clearer vision of your strengths and weaknesses , which in turn you can implement in your online marketing plan.Because you will get ideas to define your own communication strategy : tone, publication frequency, content…Because competitor analysis helps you get to know your customers better . If you know what are the recruitment strategies and sales arguments that work, you will have very valuable information.
- Because it is a source of inspiration . You will surely discover things that you would never have thought of. And although copying is ugly, you can always give them a spin…
- Because it allows you to analyze your own strategy, comparing and contrasting the commonalities and the things that you do differently.
- Because you will avoid unpleasant surprises . If you know how the competition moves, you can anticipate their news and plan a good defense.
How to do a competitor analysis step by step
1) Correctly identify your competitors
First lesson to analyze the competition: not all competitors are the same. In general, we will distinguish between three types:
- Direct or first degree competition : they are the brands that work with very similar products and distribution channels, in our same market and aspiring to conquer the same Senegal Email List customers. The typical example: Pepsi would be a direct competitor of Coca-Cola.
- Indirect or second degree competition : in this case, the distribution channels, the market and the customer profile are very similar, but the product has some important difference. Following the previous example, we could think of brands like Kas or 7Up.
- Substitute or third degree competition : these are those products that continue to satisfy the same main need, but their main attributes are different. That is, in the case at hand, any drink that can quench thirst.
Once we are clear about this, we can proceed to delimit our analysis. The ideal is to cover all three groups, but if it is too ambitious for us, the priority is direct competitors. In general, it is recommended to analyze between 5 and 10 competing brands.
2) SEO and SEM analysis
Today, the usual behavior of online users involves searching Google for the products and services that interest them, so it makes sense that this is our first stop.
A complete SEO and SEM analysis should include all these points:
- Analysis of the main keywords . Here you can rely on tools such as AdWords Keyword Planner, or directly visit the websites of the competition and look at the titles and sections.
- Offsite SEO analysis : how many links point to the website and what is its domain authority (DA).
- Positioning analysis : using the list of keywords that we TR Numbers have prepared before, we are going to see how our competition ranks in Google for each of them. Here we will pay attention to both organic (SEO) and paid (SEM) results.
