If you need better ideas for your online business in general, and find new ways to build competitive edge for your presence on the Internet?
Here is the thing that can help you efficiently with, that is analyzing what your competitors are doing online. Believe me, if you check 100+ websites of your competitors and buy products from them, ideas will start flowing.
Some ideas that you will get with competitor analysis will be only someone; these ideas will be small development of what you are already doing; some ideas will come up based on combine different competitors’ plan; but most importantly your own ideas will start flowing in abundance.
Besides opening you mind to a flow of completely new ideas, you will also gain the following:
- Understand your online market landscape better.
- Know better how to uniquely position your page online.
- Get new branding and marketing ideas.
- Find where your competitors are weak and get ideas for how you can beat them.
- Be additionally motivated to become the market leader.
- It’s a great exercise to train your analytical mind.
“Innovation, as I understand it, is both about doing different things as well as doing things differently.”
TRADITIONAL WAYS FOR COMPETITIVE ANALYSIS
The process of conducting traditional market research is the following:
- Identifying research problem.
- Choose research tools.
- Collecting, removing and sorting the data
- Analyzing data
- Assume and insights for better selection.
Know your competitor at every step.
There is a simple process to analyze your online competition:
- Know your competitors.
- Collect data.
- Examine their strategy.
- Site and content analysis
- Email marketing technique
- Analysis of different website.
- Traffic capacity and trends
- SEO Measures
- Best performing blog posts & pages
- Best performing keywords
- Link profile
- Social Media Profiles
- Paid content
Search ONLINE COMPETITORS
Search for online competitor but sometime it requires step by step work, but it’s not that difficult to do it. These are the main technique for finding your online competition:
Keywords on the base of which you want to rank for:
- Blog or website directories
- Blog awards, rankings and blogrolls
- Niche aggregators, similar site recommendation engines etc.
- SEO Tools