Competitor Analysis

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Over the past 10 years, with the development of the internet, there has been rapid growth in online competition. In the late 1990's, there were only a few businesses online and technology was limited. This meant that businesses that did have an online presence were quickly noticed. Now, it has become affordable and easy to establish a website, implement e-commerce systems, and build online businesses. This ease has caused a rise in online competition.

Businesses are now looking to the internet as their primary marketing tool. In order to effectively compete, you must establish visibility on a platform that is flooded with your competitors. There are a few things that you can do to set your business apart and become more noticeably.

1. Determine Your Product or Service

The last thing you want is to offer what everyone else is offering. Make sure that your business is catering to your niche market. Offer what they may want or need. Your product or service should be a must-have. You are more likely to sell when potential customers see your business as essential.

1. Get to Know Your Competition

Knowing ...
... your competition helps you to know what works and what doesn't work for your niche market. Find out which marketing strategies your competitors use. What does your competition do to drive in traffic? What mistakes are your competitors making? Mistakes in internet marketing can be costly. Learn how to avoid them by assessing your competition's errors.

1. Utilize Analysis Tools

SpyFu

This tool allows you to see your competition's sponsored search ad budget, ad text, PPC keyword listing, organic rankings and landing pages. With SpyFu you can know exactly how much your competitors are paying for their online advertising campaign on a daily basis. You can view the total number of clicks they are receiving and their average ad position. This program also reveals the exact keywords that your competition is ranking for and who your top 50 competitors are.

Compete.com

Compete provides web traffic analysis and offers the number of visitors to various sites. With this service you can see which keywords are sending traffic to your competitor's website.

The benefit of having access to this information is that it lets you know where your competitors are spending marketing dollars. Seeing what works for them will help you to set your budget.

Access to the most valuable keywords, recently ranked organic terms, keyword groups based on industry and top competition analysis allows you to determine if your products or services will thrive in your niche. Utilizing this information will help you to establish effective internet marketing strategies.

For more information or to get assistance with your competition analysis, contact the experts at Optimum7 today! You can also get a free website analysis here.