How Do I Do Competitor Research?

how do i do competitor research

How Do I Do Competitor Research for My Website?

Doing competitor research on your competitors will help you identify their strengths and weaknesses, and you will also be able to see how well your products and services are compared. This information will help you decide on a strategy that can give you a competitive advantage. It will also allow you to understand better how your competitors do business and how they engage with their customers.

Analyzing competitors’ customer service will help you improve your own

One of the most important steps in customer service is understanding your customers and the competition. This can be done through the use of a customer satisfaction survey. The results are a rich source of information about customer desires, nefarious, and even employee etiquette. For example, a customer service survey is a great way to weed out the weeds from the wheat and to see which of your best customers are the sexiest and are the tastiest sexiest. Most importantly, the survey can identify nefarious or straying customers and even prevent a mutiny. After all, isn’t it better to know who you are and where they are?

SWOT analysis

One of the best ways to monitor your competitors is to perform a competitor analysis. It can provide you with important information about your market, your strengths and weaknesses, and the advantages and disadvantages of your brand.

When conducting a competitor analysis, you will first need to identify who your main and secondary competitors are. You can do this using a competitive matrix, or simply making a list of your competitors.

A competitor matrix is a spreadsheet that allows you to keep a list of your competitors organized. Once you have a list of your competitors, you can use this spreadsheet to analyze them. As you learn more about your competitors, you can update this spreadsheet.

Identifying the strategy that gives each competitor a competitive advantage

The competition in your industry is a crowded one and it’s essential to keep an eye on the competition. One of the best ways to do this is to use a competitive analysis tool. Whether you opt for a spreadsheet or a data analysis software, collecting as much information as possible about your competitors is a good idea. With all that data, you’ll be able to make better business decisions.

Using a competitor matrix makes reviewing your competition’s most relevant metrics is a snap. Using a spreadsheet, you can even dedicate a row for each competitor.

Identifying share of voice on social media and the web

When evaluating your competitors, you need to measure the share of voice on social media and the web. This metric provides you with reliable competitor intel. You can use it to track performance and identify growth opportunities. In turn, you can use the data to serve your audience better.

Social media has become increasingly competitive, and brands need to keep track of their share of voice to stay ahead of the pack. Several tools help you do just that.

One of the best ways to track your share of voice is to set up alerts for mentions of your brand. With these alerts, you can receive an automated report whenever a mention is made.

Identifying market share

There are many factors to consider when determining how much of a market share you can claim. You must weigh the competitors and determine if your business can outdo them on price, quality and customer service. One way to determine your competitive edge is by using market research. Several independent sources can provide this information, including regulatory bodies, trade groups, trade publications and other similar organizations. If you have a keen eye and the right data, you can determine just how large your industry is, what types of products and services your competition offer, and how much of the action is in your backyard.

Benchmarking your competitors

Benchmarking your competitors is a great way to find out how they are doing in the business world. You can use it to improve and stay one step ahead of your competition. However, you must be careful about benchmarking.

The best competitive benchmarking efforts should be applied consistently and include various companies. Using a competitive analysis tool that helps you prioritize your efforts is also helpful. For example, you can look at metrics such as social media shares, customer engagement, brand recall, and domain authority.

Competitive benchmarking is a great way to find new business opportunities. Identifying a competitor’s strengths can help you find new products to launch or improve your marketing strategies.

To stay at the top of the ranking heap, it’s important to know which of your competitors are performing well on search engines. There are a few key queries to set you on the right path and help you use the information you find to your advantage.

What is your primary keyword?  Start by searching it on Google and you’ll get a list of a handful of your competitors. As you explore your terms, you can see if the same companies come up time after time.  If they do consistently pop up during your search, where do they rank?  Where are you about them?  The better you optimize, the better your results will be in terms of impressions, ranking, and traffic.

It is important to refresh and reevaluate this process regularly; your competition can change over time, with new companies entering the marketplace and others pivoting into other markets or going out of business. It is always a good idea to reexamine your competitors periodically.

Similarly, you may be the one evolving or making the changes.  Staying on top of new terminology, technology, products, and services will help you stay fresh and current – and at the forefront of the search engine list.

Once you have determined who is your online competition, check out their website.  How old is it?  Is it visually dynamic?  Is it user-friendly?  Is the information current and the content relevant?  Does it translate to tablet/phone/mobile responsiveness easily?

What sets you apart from their approach?

It’s important to know your surroundings to keep your bearing.  A proactive effort to educate yourself can serve you well in your presentation to your public, and ensure your continued commanding web presence.

Why Trust Salterra

Salterra has been in business since 2012. It is owned and managed by Terry Samuels and Elisabeth Samuels, a husband and wife team; the staff includes 3 of their children plus several additional developers.

The company has provided business websites and graphic design projects, including business cards, brochures, and catalogs for various industries. Their clients range in size from small and medium size businesses to consulting with large companies and advising their teams on proven SEO strategies. No matter the size of your business, the team at Salterra can promote your business and market your company successfully.

Salterra specializes in professional web design, graphic design, and internet marketing. The team will work with your company to provide you with a user-friendly and striking website but also ensure that the site reinforces your brand, increases traffic, and increases customer loyalty. Their designers use search-friendly design elements, premium software, and trustworthy technology. This will ensure that your finished product is refined and eye-catching and remains stable, secure, and consistent with all your internet business needs. They excel by providing your business with the functions and features that will elevate it and provide value in your marketplace.