The advantages of analyzing your competition

[stanton]

In a competitive market like this, sometimes you need to look askance strategies that have worked for him this competition to know some aspects of its implementation and discovering areas of opportunity, where you can act.

To assess the comparative advantages of the closest competitors, will allow a brand to know their movements, previews, then make a comparison. Some of the advantages that you will perform this analysis are:

1. Know the strengths and opportunities for your brand compared to the competition
2. To improve various aspects such as management systems, products, services and marketing strategies.
3. Establish a difference between what offers your brand and what your competition in order to increase the values ​​of your brand.
4. It is a thermometer that will be useful to guide you and make decisions.

So, according to you, what are the advantages of analyzing your competition?

 

[elcidofaguy]

Hi Stanton!

Great post... For me when I look at the competition I also examine the ranking factors and associated keywords to pages/posts etc... As a quick run down:

1. Enter domain into G's keyword planner. This tells you the keywords which G has extracted which are relevant to the domain/site.

2. Examine backlinks. Look at the type of backlinks e.g. authority metrics of site/page giving the link such as Moz DA, Majestic CF/TF etc.

3. Examine its social media strategy. Look to see what platforms the website it using and how popular it is.

4. Examine its video marketing strategy. Look to see if they are using videos to promote their site.

5. Check to see if they have an email list. If so - sign up with a alias account (not your main account) and use that to see what their email marketing strategy is.

From the above I develop a content marketing strategy as well as backlinking, social media, email marketing in order to compete with the competitor site with ideas and lessons learned wrt improvements etc...

Look forward to seeing other comments...

Best of Luck,

Cheers,

Sid

 

[blueclcl]

Another advantage of analysing the competition is that you can copy what is working for them and implement it into your business. You can see how they operate and compare it to your strategy.

You can discover how many social followers they have. How many links they have and what there top selling pages/blogs post articles are.

If you use the free tools over at Moz, then this and more can all be done very easily.

 

[stanton]

Another advantage of analysing the competition is that you can copy what is working for them and implement it into your business. You can see how they operate and compare it to your strategy.

Exactly, that's reasons why we need to analyze our competitors

You can discover how many social followers they have. How many links they have and what there top selling pages/blogs post articles are.

If you use the free tools over at Moz then this and more can all be done very easily.

Moz is only for analyzing about backlinks, social networks share without aspects of business ideas/plans of competitors.

 

[schttrj]

In a competitive market like this, sometimes you need to look askance strategies that have worked for him this competition to know some aspects of its implementation and discovering areas of opportunity, where you can act.

To assess the comparative advantages of the closest competitors, will allow a brand to know their movements, previews, then make a comparison. Some of the advantages that you will perform this analysis are:

1. Know the strengths and opportunities for your brand compared to the competition
2. To improve various aspects such as management systems, products, services and marketing strategies.
3. Establish a difference between what offers your brand and what your competition in order to increase the values ​​of your brand.
4. It is a thermometer that will be useful to guide you and make decisions.

So, according to you, what are the advantages of analyzing your competition?

You already said about the advantages of researching competition.

I would talk about researching your customers.

To be honest, Researching your target prospects and competition who cater to them (if any) goes hand in hand.

Going for either one is not going to serve your purpose.

If you are trying to answer questions like...

1. Who are my competitors?

2. What products/services they offer?

3. At what price point they offer?

4. Why do people buy from them?

Intuitively, you will know that you have to first consider your prospective customers, their likes, dislikes, habits, behaviors, lifestyle and so on.

That's how marketing works.