One vital way in which a company can learn about itself is to analyse its position in relation to its competitors. Once you’re in the process of looking at competitors, there’s also a number of other ways in which they can help you and your business by examining what appears to be working for your competitors and how you can emulate that in your own business and marketing practices.
The kind of analytic tools offered up on the web give companies and marketers more data than ever that can be used to collate information about what works for a company, its competitors and how that can be transformed into action. A number of vital areas for analysis can yield a huge amount of useful strategic pointers to get a company out of a rut and motoring in a new direction.
Back links are a powerful indicator of the likelihood of a website being scored highly in search engine optimization The number and quality of the sites from which hits have been received have a big impact on the way search engines rank websites when returning search results.
Finding out where your competitors’ back links are coming from can help you build your own back-linking strategy
By analyzing a competitor websites back links, it’s possible for you to understand where their web traffic is coming from and get a picture of what might be valuable for your company. If analysis identifies a number of high-value back link sites that aren't currently in your own portfolio, it can make sense to target these for inclusion of content to bring about increases in your own company’s search engine ranking.
Words are key
One of the ways in which companies build their search rank is through the selection of relevant keywords that customers and potential customers could click to find them online. The choice of those keywords can make the difference between getting seen by your customers and being passed by.
This is true, but your keywords do say a lot about you
Analyzing the keywords that your competitors are prioritizing in their strategies can give pointers to the kinds of words you should be targeting in your own online marketing activities. Although there may be some that don’t seem relevant to the type of consumer you’re targeting, they may have hit gold with keywords you haven’t prioritized that would be very relevant to your own activities if you chose them alongside others that are bringing you results.
Keep it simple
Of course, there are some very simple, low-tech ways in which you can keep an eye on your competitors. Back link analysis and keyword comparisons are relatively resource intensive, but not all comparison with competitors needs to be highly data driven. Things as simple as checking out competitors’ websites, blogs and other online activities can give a feel for the way in which they are engaging with their customers.
One of the best things you can do to keep abreast of developments with your competitors is to sign up for their e-newsletter. Many companies now have mailing lists that regularly distribute information about their activities and this can give you a picture of what they’re doing and, more importantly, what they feel ready to share about their activities. This can help you keep a close eye on your place in the market and adjust your own strategies to take account of what is going on around you.
About the author
Tom Shurville, the managing director of SEO agency Distinctly Digital, offering professional SEO services such as social engagement and competitor analysis.
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