Whatever rung you occupy on the corporate ladder, it is essential to keep one eye on the competition. Operating your business blindly only hurts your own performance, and watching out for what your competitors are up to is a great way to keep track of potential trends in the industry. In the age of the digital economy, a company’s online presence is one of the most important parts of its marketing strategy. Therefore, when checking out the competition, a good approach is to carry out a competitor website analysis.
Competitor website analysis: online presence
In the age of the digital economy, your company’s online presence is crucial. The internet now acts as a digital shop floor, so it’s essential to make sure your website is the best it can be. Take the time to look at and compare each of your competitor’s websites. Take note of the design, functionality and content. This will help you build a unique website.
Before designing or redesigning your website, engaging in a competitor website analysis is the only way to truly ensure that your company’s website ranks as highly as possible on search engines such as Google. On the first page of search engines such as these, there are usually around ten results shown to the user, and therefore it is absolutely crucial to make sure your website is amongst these results. By looking at your competitors’ keywords (which ones work better than others, etc.), you can try to leapfrog their websites in the search engine rankings. Your company’s website can be the catalyst to success, so it is key that before creating or reworking your website, you know what features/changes will work best to ensure you rank as highly as possible.
Competitor website analysis: media connections
A competitor website analysis is a great way to build up a portfolio of PR connections, as the results will show you who in the online trade press is writing about your competition. This is extremely helpful because your business can then target the journalists or writers in question, and is a quick and easy method to discover which sources and publications would be interested in writing about your business.
Competitor website analysis: content marketing
By looking at what your competition is doing, you can also evaluate the effectiveness of their content marketing campaigns across all channels. If you notice that your competitors are employing a certain tactic on their blogs that is generating a lot of leads, you can try adopting this approach into your business strategy. On the flipside, if a competitor tries an approach that is clearly not working, you know it probably will not be suitable for your company either.
Competitor website analysis: social media
If you are monitoring your competition’s online presence, you will get a good feel for the interactions between company and consumer on social media. If you notice that your competitor’s customers are unhappy about a certain feature in their product or service, you can adjust your own product or service to fit with what people want. Moreover, by focussing your communication efforts on what you know customers want to hear or see, you can win them over.
Engaging in a competitor website analysis offers multiple tangible benefits to your business. By watching where and when your competitors are spoken about in the media, you can quickly and easily build up a substantial PR target list. Moreover, you can streamline your online marketing practices, making sure that they are the best they can possibly be. Lastly, by observing how your competitor operates, you can learn from their successes and mistakes and adjust your own company’s operations accordingly.