Competitive analysis is the process of assessing the strengths and weaknesses of your existing as well as future potential competitors. It would help you to compare your brand with the same to understand your strength and weaknesses. Based on these comparisons you can develop suitable digital marketing strategies that would help you to survive in your industry and even exceed your competitors. Today we are going to provide you a step by step guide on how to perform Competitive Analysis.
Competitive Analysis helps you determine the areas that need improvements. Its objective is to improve the search rankings of your website and drive more web traffic. By tracking your competitor’s activities, you will learn about their marketing techniques. It will help you to plan your digital marketing activities accordingly.
Steps to perform Competitive Analysis
The following are the steps involved in Competitive Analysis. You can hire an SEO agency Singapore to perform a Competitive Analysis for your brand and website.
Keyword Research
As a first step, you need to determine the relevant keywords for your business. You need to identify your competitors and find out the keywords they are targeting. In this regard, you can even use various tools, as well. Or you can even consult an SEO agency for this purpose. Always aim for specific and long-tail keywords as they are easier to rank and helps in improving your web traffic. Also, we would recommend you use location-based keywords as they will help in bringing more potential customers to your website.
Identify your top competitors
Once you develop the set of keywords you want to your digital marketing strategies to focus on, type them on Google. Note the top ten sites that came up in the search results. In some cases, you might notice, the same site is appearing repetitively. Identify the websites that have ranked for multiple keywords in your niche and add them to your competitor’s list. In this regard as well many tools can come handy, or you can take the help of an SEO expert Singapore. However, we would also like to remind you that, if you have recently started your business, do not consider big brands in your industry to be your competitors. Instead, focus on the ones who have ranked for the keywords that are relevant to the long-tail keywords that you have chosen to target.
Analyze your competitors
Once you have identified your actual competitors, it is time to have a closer look at their profile. Start with checking general metrics for each of your competitors. It includes Domain Authority, Domain Age, Link Velocity, Social Shares, Inbound Links, and many other parameters.
Next, you need to check their backlink profile. Different tools can help you to find out the list of backlinks (from most authoritative to least ones) of your competitors. It would help you understand the number of high-quality links you need to target.
Social Media profiles
In this step, you need to check the social media marketing strategies as well as the content marketing strategies of your competitors. In terms of social media marketing, check important factors such as the platforms in which they have created profiles, the groups, and forums they have participated and engaged in discussion, frequency of posts, types of posts, number of engagement, followers, etc. It will help you to understand which social media channels will help you to meet the majority of your potential customers. Besides, it will also help you in developing the right social media marketing techniques for your brand.
Additionally, also check the websites of your competitors. An SEO agency Singapore can also help you in this regard. You can check the blogs they have created and published, the topics they have focused on, etc. The more information you can gather on your competitors’ digital marketing activities, the better you can understand the ways to use these platforms for the benefit of your brand. It will also help you in terms of customer acquisition and improving audience engagement.
Identify challenges
Once you have performed the above steps in Competitive Analysis, it is time to identify your challenges and develop strategies accordingly. Focusing on keywords only, will not help you improve ranks or generate leads and improve business conversion. Treat your overall website as useful marketing, advertisement, and sales tool. The reason your competitors are ranking high is not just based on the keywords they are using or the social media strategies they are following. It also depends on whether their website is optimized properly for the search engines as well as the audience. You can even opt for SEO services Singapore. It includes running an SEO audit on the overall website, to find the technical fault and other areas that need improvement.
Develop strategies
Now that you have detected the areas that require improvement, focus on developing an action plan that would help in making the most of your digital marketing efforts. Emphasize on Search Engine Optimization (SEO) of your website. Begin with checking the technical and on-page optimization of your website. Check for parameters such as website architecture, loading speed, navigability, mobile responsiveness, contact information, etc. Based on the flaws, take the help of professionals to overcome the same.
Once your website is optimized, you need to focus on other digital marketing strategies as well. Create and publish high quality, relevant, and useful content consistently on your website. Additionally optimize the same by including relevant keywords (page title, Metadata, page headings, and subheadings, etc). It’s better to choose topics around the keywords you are targeting. Consult an SEO expert Singapore for this purpose.
Next, focus on social media marketing. It offers plenty of opportunities to experiment. Create visual content such as images, videos, and infographics for different platforms. Check analytics tools regularly to understand the preference and interest of your audience. You need to constantly track, monitor, and modify your strategies to make your digital marketing efforts successful.
Elevan August Media is a digital marketing agency in Singapore that offers a wide range of services for the clients. Share with us your concern, and we can help you in developing and implementing strategies accordingly.
