4 Things to Look For When Conducting Competitor Analysis
Competitor analysis is strategic research that focuses on gathering and reviewing information about competing companies. This is a very important strategy for knowing what your competitors are doing and what kinds of threats they can pose to your business.
There are likely other companies out there that offer a product or service similar to yours. So, what are your preparations for this kind of situation? Just knowing what your competitors have to offer is not enough. You need more than that.
With the advent of new software and technology, it will be easier for you to find out more about your competitors. It is important to carry out regular and thorough competitor analysis to keep you one step ahead of them.
Here are 5 simple steps to running a competitive analysis that you need to apply.
1. Identify your 10 toughest competitors
This may sound a little strange, but have you identified your 10 toughest competitors? (the amount may vary depending on your industry)
No matter the scale of your business, whether it is local, national, or multinational, you will always have competitors ready to threaten your business at any time. They target the same target audience as you.
If you are still having trouble identifying your competition, Google can help. Search for the type of service or product you offer on Google, it is very likely that you will see some of your main competitors appearing in the search results.
2. Analyzing and Comparing Content
After identifying competitors, start doing competitor analysis and dig deep to understand what type of content they publish.
Analyzing their content can help you find opportunities to outperform your competitors. What content is their focus on? A blog? Case study? Premium content?
Once you have studied their content, you can see how high it is and, most importantly, compare it to your own.
3. Analyze Their SEO Structure
Assume that you and your competitors have the same type of content and equal quality. So what makes you different from them? Maybe their SEO structure.
The SEO structure relates to how your competitors use keywords, whether these keywords are in:
- Page title
- H1 tags
- Internal link
- Image alt text
Apart from the SEO structure, you also need to know what types of keywords they are using.
When you’re trying to see rankings for a particular keyword, instead of looking for keywords that have high search volume, look for keywords that have lower search volume. These types of keywords are usually included in the long-tail keyword type and are more specific.
4. Identify What Needs to Be Improved
After conducting a competitor analysis, you now have a better idea and understanding of what your competitors are doing.
Gather all the information you get from each competitor, and identify what aspects you need to improve. After doing the analysis, you will at least find something that needs improvement.
This is a discussion of 4 things that need to be considered when conducting a competitor analysis. So that your business grows, don’t forget to advertise through the Froggy Ads service, you can start by advertising your products so that later you can increase visitors on your online business portal. Froggy Ads is an online advertising service that can help you control all your product campaigns. helps you target your desired marketing target and provides you with multiple options for marketing your product.