How to do competitor research like a pro?

In our online business landscape, it’s easier to conduct research and analysis which helps you understand market dynamics so you can find an optimal way to reach your target customers. Analyzing your market and competition also helps you determine how your company and your product fit in the current environment. These competitors hold a commanding position in their core market, allowing them to expand into different industries and verticals. Practically, you can track everything your competitors do – from products to people to promotions.

The goal is to find out what is working for other businesses in your industry so that you can make the most informed decisions and gain competitive advantages. A competitive analysis is just one input in your growth strategy —  and a limited one at that. You don’t want to look to your competitors for marketing tactics. They might be spending thousands on Facebook ads, but that doesn’t mean it’s working.

If you’re a startup facing off against the dominant market leader, you could use this data to set yearly goals and projections for your business. You can easily find a company’s “biographical” information on sites like Crunchbase, LinkedIn, Owler, and AngelList.

Employee Count

This will give you an idea of the number of employees in business and LinkedIn is the best source to know the active employee count.

Founding Year

Knowing a company’s founding year helps you put things in context in your overall analysis. You’ll find it useful as you chart their past growth over the years —  a helpful comparison as you establish your own business goals.

Market share

The best shortcut is to survey with a sample size of 200-300 respondents, asking them what tools and solutions they are using. That’s usually just enough to get a ballpark estimate of market share in the Go-to-Market strategy.

The best shortcut is to survey with a sample size of 200-300 respondents, asking them what tools and solutions they are using. That’s usually just enough to get a ballpark estimate of market share in the remember: An effective GTM strategy requires an understanding of these five elements:

Target customer & strategic messaging
Product offering and pricing
Customer acquisition strategy

These are a sampling of the questions you’ll need to answer as you do your research:

What are the characteristics and needs of each competitor’s ideal customers?
How does each competitor acquire new customers?
What type of content do they publish and what topics do they cover?
What is their sales process – what channels does it involve, how long does it take, how involved is the sales team?
How easy is it for customers to switch away from your competitors?
What are the barriers to entry in the industry and their relation to each competitor?
Do you know the phrase, “content is king”? Nowadays, few businesses dare to doubt the power of content marketing.

Content marketing is not just a necessity for any modern brand. It is one of the key weapons to set yourself apart from your competitors.

Including content analysis in your competitive intelligence process is a must, not a suggestion.

Content marketing experts attract and retain customers by consistently publishing valuable content.

From well-researched blog posts to social media, the content has the power to change the relationship between the company and consumers.

Monitoring what your competitors are publishing is a way to get insights into what type of media brings them the best results, and find ideas to improve your content and social media activities.

Key competitive intelligence questions you should know the answer to:
What type of content your competitor is publishing? (blog posts, case studies, white papers, e-books, etc.) What is the quantity of each content type?
What is the frequency of publishing of each content type? Twice a week? Twice a day?
Which topics are discussed in their content? Which topics the competitor is trying to establish a strong thought leadership position for?
How well is the content optimized for search engines? What keywords bring traffic for them, and which backlink strategies are successful?
How are your competitors using social media? Which channels work the best for them?
Let’s see some powerful tips and techniques to find out the answer to the above questions
Evaluate the content on the competitor website

See what types of content creation do your competitors focus on and how often they are publishing.

Different types of content can include blog posts, white papers, eBooks, videos, podcasts, press releases, case studies, etc.

It gives you a good idea of where you should spend more effort and resources.

Pay special attention to their blog

Blogging is still a key component of any digital marketing strategy. Check if your competitor’s blog is an uninspiring place full of keywords, or if it discusses hot industry topics that aim to resolve consumer problems and needs.

Subscribe to the competitor blog’s Feed .

Blogs serve many more purposes than just improving SEO performance. Good blog content nurtures and converts customers, creates brand awareness, and engages with prospects.

Once you’ve researched their content, you can determine the frequency of publications and the quality of the text, and most importantly you can see how it compares to yours.

For example, let’s say you’re a company that offers data analytics software.

You may find your competitor has 300 blog posts (publishing once every business day), 35 case studies, 50 podcasts, and 10 videos. You also note that this competitor focuses on three topics in their content: data mining applications, business intelligence, and data visualization. But they have pretty low content related to artificial intelligence and its rising importance in our age! This is a weak place where you could easily overtake their market share.

Check how the competitor’s audience responds to the content

In the competitive market research on content, it is critical to check also how engaging your competitor’s publications are to their readers. In other words, how their target audience responds to the content.

Check the number of shares, comments, and likes on your competitor’s content. Determine what topics gain the most of the shares and comments and find out if the comments are negative or positive.

Don’t stop at the competitor’s website

Content takes on various forms, and it won’t always be only on your competitors’ websites.

While a lot of content may be shared on their website, you should analyze other powerful resources such as press releases, off-site blogs created by important industry influencers, events, sponsorships, announcements, news in magazines, etc.

Monitoring press releases is one of the easiest ways to find out how your competitors want to be perceived. A great tip here is to set up Google Alerts on their brand names to follow announcements and important updates.

Tracking news mentions is a critical element of your competitive intelligence process as the strategic press is an efficient way to create a brand and gain popularity within your industry.

Monitoring industry press will tell you what people are saying about your competitors and how they’re positioning themselves against you. Again, use Google Alerts to be informed of these mentions.

Research social media posts

Presence on social media is increasingly important as social media networks are a wonderful way for companies to interact with users and customers.

Evaluate how your competitors are using social media, to catch valuable social signals and determine how competitors promote their brand identity.

Visit these social media sites to see if your competitors have a profile: Facebook, Twitter, LinkedIn, YouTube, Pinterest, Google+

For each social network, pay attention to the number of followers they have, the frequency of posting, the type of content, and note how frequently fans interact with that content.

Use social mentioning tools

Consider using social mentioning tools – they are doing a great job.

For example, Hootsuite is a social mentioning tool that allows you to see how often competitors post and how they engage with customers. Moreover, it allows you to manage your own social media presence.

Pay attention to the type of articles that people like, and don’t like. Spot the times of day when people engage the most with your competitor’s posts, and when people are less active.

Perform SEO competitive analysis and keyword research

Tracking SEO campaigns have a key place in the overall competitive intelligence process.

A comprehensive SEO analysis can show you how your competitor is winning organic visibility, what keywords bring traffic for them, and which backlink strategies are successful.

Finally, you can use this information to grow your own site’s organic traffic.

At the heart of the competitor’s SEO analysis process is keyword research.

You need to identify how well are your competitors using keywords. Are keywords included in the page title, H1 tags, content, internal links, etc? This will show you how serious is your competitor about the keyword strategies.

Not only should you check the keyword density of the content but it is vital to discover which keywords your competitors are using.

For this purpose, specialized SEO tools like SEMrush and Moz work the best. Or, you can use Google rank tracker tools like SEOlium to monitor your market and use data to grow your business.

SEO tools show you the keywords your competitors rank for and the percentage of organic and paid traffic.

They also help you analyze how well your website is performing against your competition and which keywords are generating quality leads to your site.

Pay special attention to the competitor’s backlink portfolio

Besides keyword research, you will want to check the competitor’s backlink portfolio. The high-quality backlinks lead to a huge improvement of the website’s domain authority.

It is worth the efforts to target the same domains for quality backlinks. You can offer them guest posts or other values in exchange for the links.

With the tremendous growth of the new digital reality, marketers, and business owners have many ways to collect data about their competitors’ strategies.

Now that you’ve collected all this competitive information, you must decide how to use it successfully and strategically.

It is a must to look at all of your findings (about competitor’s products, employees, customers, content marketing, social media, and SEO) as a whole, not just one aspect – because they all impact one another.

You also need to realize that competitors are not your enemy. Even if you are operating in the most competitive industry, don’t look at the negative side.

Think of other products, customers, and websites as ways to get better at your business.

At the end of the day, a focus on the customer will serve your company far more than a focus on the competition. Done well, a competitive analysis can help you find ways to outplay the competition by better serving customers —  theirs and yours.

Let me know if your business does competitor analysis or planning to do it in near future. If you like the article don’t forget to share it on your favourite social channels.

2 thoughts on “How to do competitor research like a pro?”

  1. אך זה לא הכל, כי הכי נוח וחשוב באתר הצימרים IROOM הוא התמיכה גם מהטלפון הסלולרי
    שלכם, האתר מותאם סלולר ובקלות תוכלו
    לבצע סינון ולמצוא את הצימר המתאים לכם, ואם אין לכם כוח לסוע רחוק, בצד ימין של
    המסך יופיע הכפתור “חדרים באזור” קליק אחד ותוכלו לראות, מיהו מתחם הצימרים הקרוב אליכם וממש בקלילות
    כמו שאומרים “לזרום” ולהתפנק שעתיים שלוש, במתחם ערוך
    לכבודכם, לכבות את הסלולר ולהתמסר, לאהבה ורומנטיקה וכמובן לשלווה, כדי לשבור שגרה
    סתם כך בלי לחץ וטרחה. המגמה של שימוש במיוחד בעת נסיעה
    למקום מרוחק בעולם, הרחק מהבית ובני משפחה צוברים הרבה כוח.
    סקסיות רוסיות באתר סקס האם אתה רוצה לנסוע למקום אליו אתה יכול לקבל עבודה?
    נכנסתם בדיוק למקום הנכון. האבזור המושלם והמושקע על ידי בעלי המקום יעניקו לכם את הבילוי המושלם.

    נערות ליווי בהוד השרון תוכלו לפנק
    את האורחים באירוע שלכם בעיסוי מקצועי שיתבצע על ידי נערת הליווי שבחרתם , וכך תוכלו להפוך
    את כל האורחים שלכם להרבה יותר מרוצים.

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