In this guide, you’ll gain practical insights into how to use Free Tools to understand your competition, a powerful knowledge that will generate more profit and success to your bottom line.
Lets first define what we mean by Competitive Analysis, it is simply being able to identify the strategies and tactics of your competition and put this to use to set your own benchmarks and goals.
Whether you are running a small business or managing your own blog page or you are a marketing executive at large corporations, this guide is for you.
When assessing your own website performance through Google Analytics you would normally look at metrics like:
- The Audience
The total number of Sessions, Users and Page Views.
- The Acquisition
Traffic sources; Organic, Direct, Referrals, Social Channels and others.
- The Behavior
Site Content, Site Speed, and Site Search
But, will these numbers help you understand your market position and how your performance ranks against that of your competition?
As Tony Robbins puts it, ” If you want to achieve success, all you need to do is find a way to model those who have already succeeded”
The tools below will help you learn more about your competitors. I will also explain how you can make use of these tools in the process of comparing and benchmarking.
This tool has a free version that offers you the numbers you are looking for. It also offers its customers insights on both their own and their competitor’s websites.
On SimilarWeb, you can have free access to a group of reports where you can find the following:
- Competitor’s estimated traffic in a specific period of time for all channels.
- The traffic sources your competitors are getting their traffic from.
- ” Referring Site Report ” to see which websites are referring the most traffic to your top competitors.
- What keywords are sending the most organic search traffic.
- What keywords your competitors are paying money to be seen for.
- What social channels are driving traffic to your competitor’s sites.
As you can see, using this tool will provide you with all knowledge you need to analyze multiple areas of your competitor’s online marketing strategy and compare it to your own.
To get the most out of this tool you need a paid account, but it also offers free limited reports including the following:
- Organic Keywords Report:
From this report, you can observe the keyword ranking position and keyword search volume for the keywords that are driving organic search traffic to your competitor’s website.
- Chart Tools:
You can use the charts offered in SEMrush to evaluate the visibility of both paid and organic search strategies overtime for your competitors.
It also offers various reports about advertising, backlinks, Keyword Research, and more data that will allow you to have full insight into your competitors in order to perform the ideal competitors’ analysis.
And now, after you gathered the data needed about your competitors and have already ” discovered ” how your competitors are performing, now we move to the next step which is “Analyzing “ the competitors.
To analyze the data, you have gathered and make it useful, you should answer the following questions:
- Where are they making conversions and where are you making them?
- Why are they making conversions and why you are making them?
- How are they making conversions and how are you making them?
- What kind of content boosts their traffic and what boosts yours?
After answering these questions, you will be able to draw your benchmark and create successful digital marketing campaigns.
Remember Competitors are putting effort to understand your business, and you should be doing the same!