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How to Do a Competitive Analysis in 5 Easy Steps

Jul 7th 2019 at 10:16 PM

 

Competitive analysis now becomes a key factor in beating your competitors at the backward on the race. It is about a phycological aspect of judging the different arena where you can beat them. Now, the scope becomes easier to track it as we have advanced technologies. At the same time, it is tough when you can come to know that your competitor also gains the same ammunition to track you. Besides, technology is the most fluctuating thing, and every day a new software comes to beat the earlier version. Hence, you need to pretty updated and spend a handsome amount of money too.

 

 

In this article, you are going to point out five easy steps of competitive analysis, so let’s begin from below:


1. Know your top ten competitors: Knowing your rivals is the first and foremost and most hard stuff. Thankfully, all of them are not your competitors, depending on the market sharing and dividend sharing you can easily find out the top ten rivals of your company to whom you need to beat first.


If you are not conducting the traditional marketing which is not even worth to discuss here, then you are in the digital marketing arena. Hence, to track your competitor is easy as you have google. In that case, know who is on the top list of your company service websites. Depending on every service or the products, some of them are on the top, and some of them are in the below. So, your job is to research your business products and services and then find out who is beating you.

 

2. Know their content strategy: You must know that “Content is King” so when you have the king to be performing like a king, then you have no rivals. However, it is impossible in a competitive business. Conversely, companies are looking at you to beat you depending on the content strategy. Therefore, you need to develop a perfect content strategy and at the same time, publish your content based on your competitor's weakness. Also, you may have to change your strategy sometimes and republish them online.

 

 

3. Analyze their SEO structure: Most importantly, your On-page SEO structure is the key factor to beat your competitors. In that case, you need to have the best SEO experts who will have the creativity and skill at the same time. So, they can develop their skills and apply it when the SEO strategies need to change because we know in every year something new comes to add SEO.


4. Track their Social Media Campaign: Big traffics come from the social media campaign, and many companies are constantly posted videos and contents on it so that they can attract their customer. It is an open battle where you can easily track them, so do some research on how they make the conversion and bring the traffic.


5. Identify your areas to improve: When every information come to your basket, then a time comes up to improve your company tactics to keep abreast with the rivals. The more precise and perfect approach you will grow the more probability you will have to grow like a monster.


We know there are a lot of agency out there and it would be tough to find out any of it as an example, by the way, to see one of them here is  https://isaac.io/

 

 

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