Competition analysis is not as easy as it sounds. You have to be critical in knowing every aspect of your competitor’s performance and how you should adapt your strategy accordingly. If you follow just a single strategy all throughout your campaign and you were never aware of how or what your competitors were doing, then you will be missing out on important things that could have improved the circumstances of your website if you had taken advantage of them.
Having the ability to analyze your competitors can help you improve your strategies, and be enlightened on opportunities that can take your campaign to even greater heights. Another benefit of knowing your enemy is being able to know the areas where you could be doing better. This will give you the opportunity to step up your online performance and be ahead of all your competitors.
The frequency of your analysis is not limited to a monthly basis. But what’s important is that you should be aware of the metrics of your competitors to regularly measure the distance between you and your competitors. So, today I’ll be highlighting 4 of the most important factors to consider whenever you are analyzing your competitor’s performance. Let’s start.
Before starting your competition analysis, you should first understand what the word “competitor” means in the online industry. It might seem as though the meaning of competitor is straightforward, but it’s not. You might have a competitor in the physical aspect, but that does not mean that they’re your competitor in the online landscape. This is an important factor that most SEOs forget. They think that whatever physical competition they have automatically has an online presence, but this is not always the case.
Another factor that SEO professionals forget is local SEO rankings, and there’s a much wider scope after that. They might rank high in their local rankings, but in the overall search rankings, they might not even be visible.
The first step to knowing your online competition is a simple act of searching in Google. Input the keyword/s you want to rank for, and see who is ranking for that specific keyword. Afterward, you can input the keywords you want to rank for and the domain names of your competitors in Ahrefs. I particularly like using Ahrefs because they have a massive database, it’s comprehensive, and it updates consistently – which means that the results they show are timely and useful. If you want to know my complete thoughts about Ahrefs, here’s my Ahrefs review.
If you’re not particularly versed in using Ahrefs, you can use any competitor research tool that you are comfortable with.