Competitive Analysis — Learn what’s out there. Then do it your way.
Attract your audience and own your share of the market
In business, a bit of competition is healthy. But when you see the same competitor companies doing well, it gets frustrating.
You want to do better. You want your business to evolve and grow. You want more leads, a bigger bottom line and (wouldn’t it be nice) if you were the company that others looked at and thought, “Wow. They are doing great things.”
It starts with a competitor analysis
When you understand what your competitors are doing, how they’re doing it and have theories about why they’re doing it, you’re in a strong position.
A competitor analysis from Compass Digital Strategies gives you:
- Trends and practices that are working and failing for similar businesses
- Opportunities your competitors are missing
- Strategies for your business to capitalize on gaps and claim them as your own.
Carrying out a competitive analysis means you’re giving your company the best opportunity to meet your targets.
But when you push that ambition a little harder and use this information to differentiate yourself from your competitors — that’s when you’ll fly right past them.
Do it differently. In a way that’s uniquely, originally, you.
What’s in your competitor analysis?
Your branded competitor analysis document includes:
1. Your business and industry summary
Understand how your business is performing online in relation to your industry as a whole.
2. Identifying your competitors
Divided into close competitors and aspirational competitors.
3. Analyzing competitor strengths and weaknesses
Using competitive analysis tools — I use SEMrush, supported by a few other carefully selected tools — I’ll build a picture of how your competitors are currently ranking and the search traffic they get, and then…
4. Identify market gaps
This is the good stuff: detailing the strengths and weaknesses of competitors sites identifies gaps you can capitalize on.
5. Plan of action
Based on the opportunities available I’ll present your plan of action. This includes keyword research, link building and digital marketing tactics for pushing your site traffic and performance.
When to get a competitor analysis
Understanding the strengths and weaknesses of your competitors — and areas your own company can improve on — is helpful at any stage of business.
A competitive analysis is especially helpful if your current target is to:
- increase leads and sales
- rebrand and understand your positioning
- find new ways to attract your audience or
- refine your SEO strategy.
Ready to do something different?
Understand your competitors. And find your gap to out-compete them.