How To Do Competitor Analysis In Digital Marketing

By Author: Damien Alcock
Total Articles: 140
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This is where competitive analysis in digital marketing comes in handy. This is more than just a flashy tagline. It's a game changer. And guess what? You are about to discover how transformative it can be.


 In this guide, we'll take a deep dive into the world of competitive analysis. You don't have to be a digital marketing guru to participate. Whether you run a cozy cafe in Brisbane, a trendy boutique on the Gold Coast, or a busy consulting firm on the Sunshine Coast, you've come to the right place.


So what exactly is competitive analysis? Simply put, it's about understanding what your competitors are up to in the digital space and using that knowledge to improve your online strategy. We'll cover everything from analysing your website design to figuring out your social media strategy. You'll learn not only to see what they're doing but also to understand why they're doing it and how to do it better.


Competitive analysis content and reasons

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... br /> You may be asking yourself, “What exactly is competitive analysis in digital marketing and why should I care?” Let's break it down in a way that makes sense for you and your business.


What is competitive analysis?


Competitive analysis in digital marketing is like being a detective in your industry. it is:

Take a close look at your competitors: This means knowing who your competitors are and what they are doing online. Are they using smart SEO strategies? Are their social media accounts busy? How is your website attracting customers? It's about observation and understanding.


Gain insight: Don't just look at what your competitors are doing. They dig into the question of how and why they do it. This includes analysis of tactics, strategies, and results.

Why is it important?


You may be thinking, "I know my business best, so why should I take the time to look at someone else's business?" not. Here's why:

Identify market trends: By monitoring your competitors, you can identify broader trends in the market. What works for them may work for you too.


Understand customer preferences: Competitor successes and failures are a treasure trove of information. These tell you what customers like and dislike about your industry.


Benchmark your business: It's important to know where you stand compared to your competitors. Are you a leader or is there room for growth? Here's how to find out.

Think of your competitor analysis as your compass for your digital marketing journey. It will point you in the right direction, show you ways you might not have thought of, and help you avoid pitfalls that have surprised others.


Identify your real competitors


It's important to understand that your competitors are more than just companies that offer similar products or services. In the digital world, competitors also compete for the attention of potential customers. How can you find these competitors?


Direct competitors
These are probably things you already have in mind. They offer the same services and products as you. Think of them as your digital neighbors.

Look at your customer base: Who else are they considering buying from or are they buying from? This is a good starting point.


Search for keywords: Search for top products and services using Google or other search engines. The companies shown are direct competitors.

Indirect competitors


Here's where things get interesting. These competitors may not offer the same products, but they solve the same problems or meet the same needs as you.

Broaden your horizons: Think about the broader needs your business meets and look for companies that meet those needs.


Ask your customers: They may give you insight into the alternatives they are considering. That option may not be a direct replacement for your service, but it's still competing for attention and money.

Tools and resources


Using the right tools can make this process smoother and more efficient. Here are some examples to get you started.

Google Search: The easiest tool at your disposal. Search for popular products and services and see who's showing.


SEMRush or Ahrefs: These tools are great for more in-depth SEO analysis. You can also see who is ranking for your keywords and discover competitors you never thought of.


Social media listening tools: Platforms like Hootsuite and BuzzSumo can help you understand who is making waves in your industry.


Google Alerts: Set up industry keyword alerts to stay on top of who's making waves in your field.

Competitor site and SEO analysis
Competitor website analysis


As a business owner, your website is your digital storefront. But how does it compare to its competitors? Layout and design:

First Impressions: Visit your website as if you were a customer. What is your first impression? Is it easy to navigate? Notice these initial feelings.


Navigation and accessibility: Check how easy it is to find information. A complex menu can be difficult. Yours should be more simple and intuitive.

User experience (UX):

Loading speed: Check the speed of your website using tools like Google PageSpeed Insights. A slow website can frustrate your users and hurt your business.


Mobile Responsiveness: As more and more people browse on mobile phones, how well will your website perform on mobile devices? The device also needs to be mobile-friendly.

Content strategy:

Content quality: Check the quality and relevance of your content. Is it engaging and informative? Make sure yours is even more so.


Content variety: Do you use a mix of blogs, videos, and infographics? A diverse content strategy can help you attract a wider audience.

Evaluate your competitors' SEO strategies


SEO – It’s like the secret sauce of online marketing. How to analyse your competitor's SEO strategy:


Use of keywords:

Identify your keywords: Use tools like SEMrush and Ahrefs to see what keywords you rank for. Are these keywords also relevant to your company?


Keyword placement: Pay attention to where these keywords are used, such as in the title, header, and blog. This allows you to guide your keyword strategy. 

Backlink profile:

Quantity and quality of backlinks: Check the number and quality of backlinks leading to your website. This is where tools like Moz Link Explorer can help.


Sources of backlinks: Where do these backlinks come from? High-quality, relevant sources can significantly improve your SEO. Aim for similar quality with your backlink strategy. 

SEO performance:

Ranking: How do you rank in search results for keywords in your industry? This gives you a benchmark for your own search engine optimisation goals.


Local SEO: If your business is local, how does it perform in local search results? Local SEO can be a game-changer for businesses like yours.

Analysis of social media strategy


You probably already know that social media is an important part of digital marketing. But how can you make your social media strategy truly stand out? It starts with understanding what your competitors are doing right and where they're missing the mark.


How can you analyse their social media strategy to refine and improve your own?


Assess your competitors' social media presence

Platform usage: First, determine which social media platforms your competitors are active on. Are you leveraging Instagram's visual appeal or LinkedIn's professional network? Understanding your platform choices will give you insight into where your audience spends their time.


Posting frequency: Look at how often your competitors post. Do they interact with their audience every day or do they post sporadically? This will help you assess the level of commitment they maintain.




Content quality: Pay attention to the type of content you share. Is it primarily advertising, education, or a combination of both? High-quality, diverse content tends to engage viewers more effectively.

Analysis of engagement strategy

Interaction with the audience: Notice how they interact with the audience. How quickly do they respond to comments? Engagement is key to building an engaged online community.


Promotions and Campaigns: Take note of any specific campaigns or promotions you are running. How will they react? This will give you ideas for your campaign.
 

Evaluate content effectiveness

Post-performance: See which posts are getting the most likes, shares, and comments. This can show you what type of content resonates with your shared audience.
Visual consistency: Are your posts visually consistent with your brand? Consistent branding helps improve brand awareness.

Learning from observation: do's and don'ts

Strive for authenticity: The more attention your competitors' authentic content gets, the more you'll be motivated to write authentic and relatable posts.


Don't blindly copy: It's good to be inspired, but avoid copying style or content. Your uniqueness is your strength. 


Focus on engagement: If you're having success engaging with your audience, find ways to incorporate similar strategies, such as interactive posts and timely responses to comments.


Don't ignore trends. If you're capitalising on current trends, consider how you can do the same in a way that's consistent with your brand.