How to Improve Your Business With Complete Competitive Analysis
No matter what kind of online business you are running, whether it is a small startup or big one – the success of the business relies on website, its design, how efficiently you strive for different digital marketing campaigns & targeted audience as per your interest of niche. Along with these points, the crux of successful business is the complete analysis of competitor research & analysis. It is essential to be aware of where your competitors are standing & what they are doing on diverse social media platforms & web different from you. Here we don’t mean to intimate your competitors but you should be aware of what you can do for your business in order to alleviate it.
Competitive or Rivalry Analysis – it is a process to collect complete information about your competitors, including their products, strengths, weaknesses & business trends to evaluate your position in the marketplace.
Keeping in mind, we as a web design and development company India has collected some tactics & strategies for your business that you will get abundance of advantages. Competitive Analysis –
Helps to find out where you are lacking in strategies & you can make better decisions
Running whatsoever business, one thing is certain to pay full attention several factors. Since there is always chance to go wrong in business. Competitor analysis will help you to make decisions what is right & wrong? Rather than making same mistakes again & again, you need to take best actions accordingly.
Aids to profoundly understand your customers.
While stalking your competitors’ move, you have a chance to find out the reason as in why your potential customers choose them over thousands of other companies & brands. What makes them buy from their online stores.
Permits you to prediction of your competitors’ next move.
You will be able to understand their marketing strategies & trends by analyzing their websites. Once you get on the right track, check your progress in order to make sure that you are going on the right path.
When you come across the results of your query, it comes with two types such as Organic & Paid search.
Organic Search: The search results are called organic that closest match to user’s query.
Paid Search: On the other hand, paid results are basically advertisements.
Organic Search – What words are they using to speak to their customers?
Keyword is the crux of online marketing strategies. Keywords are what users are searching for any product & information. While analyzing your competitor’s search results, you need to pay specific attention to the following:
Ranking- You must search for your competitor’s ranking on search engines like Google & Bing. By doing so, it could improve them also in search.
Keywords Search Volume- It reveals the average number of searches for a particular keyword receives per month.
Number of Results- The number of URLs is displayed in organic result. It is a good sign of how competitive the keyword may be.
Trends- The metric will help you to assess the interest of searches for a specific keyword. This is seasonally in the last 12 months.
Here is the list of tools where you can compare the keywords to your rivals.
Paid Search – How do your rivals conduct AdWords campaign?
Analysis is no longer worthy when it is all about money. Check out the following elements while performing the analysis:
Traffic & Cost- The research software for PPC can estimate both based on domain’s keywords positions, plus average CPC. It is important to know how much money your rivals spend on traffic? These things come in paid advertising campaigns.
Keywords- This is another important aspect that needs attention in paid searches.
Here is the list of best PPC competitor tools:
Backlink profiles have a great impact on website’s ranking in Google. In order to analyze the backlinks of your competitors’ websites, it will help you out to find out worthy sources. Thus, you need to pay attention to the following parameters:
- Volume of backlinks
- Number of unique domains
- Quality of backlinks
- Volume of shares through social medias
- Anchor list & its usage
The social media platform has a great power & it is a powerful business tool in order to get unexpected results for better. It includes likes, followers, shares & views. To triumph this battle, it is important to research well your rivals’ social media activities.
Engagement- The size of audience is not a sign of social media success of any brand. You just need to start with simple estimating the likes & shares. Analyze how your competitors engage with the audience. How responsive is the audience?
Number of Followers- However, among all evaluation, knowing the number of followers is the easiest one to measure. It is worth tracking to know. The significant increase or decrease of followers indicates the main strategy trend, worth sharing ideas or serious mistakes.
Social Media Profile Setup- As we’ve mentioned already that the size of audience is not the best metric of social media success. Fortunately, this is an insight that you can gain from your rivals. As it includes cover photos, description & where the link from the profile.
RivalIQ is one of the best tools to analyze complete social media competitive analysis. The tool allows comparing social media presence with your rivals, publishing frequency & number of social signals.
One of the most successful strategies in effective digital marketing is – analysis. By doing so, it provides you knowledge about strategies that are effective & worth trying. It also helps you to get to know the weak points & white spots of Indian web development company. Thus, it is time to take appropriate actions. All you need to apply some successful ideas & pass them via your own creativity.