One of the components of a good SEO campaign is competitor analysis. It’s a common-sense approach to help find your own niche in any market where competition exists.
An example outside the online world may be the startup of a sandwich shop. Before opening for business, a potential location would be scouted and the nearby competitors would be identified. At the outset, if many similar establishments were found within a one-mile radius, it may seem like a deal-breaker – the marketplace is already outwardly overpopulated and it would be too difficult to make a good return. Closer inspection may turn this assumption around in many ways:
- Nearby offices or schools bring a reliable source of hungry foot traffic
- The very reason other establishments set up there is the high volume of passing traffic
- Although there are many other vendors, nobody offers quite what you want to offer
- The other products are at a higher price point
The same concept applies when setting up a website or launching a campaign to rank higher in the SERPs (Search Engine Results Pages). In an ideal world, this analysis would be done before designing your strategy, but the real world is constantly changing so even if a ‘gap in the market’ is identified, it could disappear in the time it takes to get a site up and running. For this same reason, even when a site ranks well and is attracting business, that platform can be undermined through the actions of others who encroach on your set of keywords. What follows is a constant shifting between companies in search engine results over time.
For these reasons SEO analysis is an important component in researching your competitors but should not be taken in isolation.
SEO Analysis of a competitor could include:
- Checking ranking results
- Checking the number and quality of links
- Checking the targeted audience
- Check domain authority
- Social Media Activity
- Social Media Engagement
- Keyword analysis
- Content analysis
Valuable insights, although to get the complete picture, the following should also be considered. It’s impossible to program an online search to check off all the considerations a person takes into account when choosing one supplier over another. Some of these factors could include:
- Customer Reviews & Testimonials
- Quality and style of promotional material
- Website design
- Ease of navigating the website
- Price check of product or services
- Small print/refund policy
- Rewards programs offered
- Frequency and attractiveness of sales
- Quality and style of images
- Awards and recognition
- Brand recognition
- Community involvement
This list is much broader than SEO but ‘the big picture’ is valuable and sometimes being too technical overlooks the more aesthetic appeal or the value of trust conveyed by an A+ business rating.
When looking to attract more customers online or offline, competitor analysis makes sense and should be an ongoing process. Standing still and not considering this data may work for a while, but who is looking at you as their competitor and looking to jump ahead by analyzing your strategy?
We don’t claim to be able to help with everything, but we at Trulium can certainly help with the SEO competitor analysis. If you want to benchmark yourself and build from a starting point of solid data, contact us today.