Competitor Analysis: Research Their Marketing Strategy

Competitor Analysis: Research Their Marketing Strategy

Conducting a high-level competitive analysis is crucial to your online success. Often, your most significant opportunities come from your competitors’ data.

Keeping up with your competitors’ marketing strategies is a great way to identify their strengths and weaknesses. Which you can use for your marketing strategy.

The first step into developing a competitive analysis strategy is determining who your competitors are. Once you’ve established who they are, you can dig into their strategies and walk away with actionable data.

Below are 7 ways to monitor your competitors marketing strategies.

1. Identifying your competitors
The first thing you want to do in your competitive analysis strategy is to identify your competitors. Now, you may already have one competitor in mind, but there’s a possibility that you have other competitors that compete with you on Google that you’re not aware of. With SpyFu, you can quickly identify your competitors by using the domain overview tool.

Overview of SEO and PPC research in SpyFu
Here’s what to watch for:

Note the ratios SEO vs PPC.
Review the core keywords — This helps you gut check them as a key competitor and tells you the direction of their marketing plan.
See the keywords that they buy/rank on that you don’t.
Browse their top Keyword Groups.
Tip> Don’t pay a ridiculous amount of attention to raw numbers just yet. That will come, but for now, you should be assessing where they stand.
Those raw numbers will help you more if you remember estimates and watch for any lopsided or inflated figures. Use them for relative comparisons to other domains. This will prove especially helpful when you move on to Step 2.

Search your domain in SpyFu.

Scroll down the page to your organic and paid competitors. Is the competitor you’re researching actually in this list? If not, keep tabs on them but don’t discount the others. Competitors that aren’t “top of mind” could be bigger threats than the first one you searched.