As a business, you’re probably focused on running your own race. But it’s hugely beneficial to know exactly who your competitors are and to keep an eye on what they’re doing.
After all, how will you get ahead if you don’t know who you’re competing against?
Conducting a competitor analysis, you can understand where your business sits in the market in comparison to your competition. This process allows you to gather intelligence on exactly who your competitors are in the search results and put this insight to use to outshine your rivals.
Who is your real competition?
On the surface, this seems like a simple question and one you probably think you know the answer to. But understanding who your actual competition requires more time and investigation than you may think.
Firstly, it’s important to recognise that there are different types of businesses that you’re competing against. In the digital world, your direct competitors – those who provide a similar product or service – aren’t your only competition.
You also need to consider your indirect competitors – essentially any website that is ranking ahead of yours for relevant keywords and driving traffic away from your site. This could be news sites, media publications, government entities, blogs or informational resources to name just a few.
What insights does competitor analysis provide?
Assuming you know who your digital competitors are is a mistake. Data-led insights are required to gain an accurate picture of the landscape you operate in. And this is something a competitor analysis can provide.
Our SEO specialists created an exclusive, in-house SEO competitor analysis tool that allows you (among other things) to:
- Analyse your website’s performance in comparison to your competitors including page indexing, site speed and Google crawling
- Become aware of your competitors strengths and weaknesses to spot growth opportunities
- Understand exactly where you sit in the market
- Highlight specific pages that need optimisation to create quick SEO wins
- Discover how many phrases you rank for on the first page of Google
What are the benefits of a competitor analysis?
Claiming one of the top spots in the SERPs can significantly increase your organic click-through-rate (CTR) and, in turn, traffic to your website. In fact, research shows that the average CTR for position one in Google is over 28 percent while second claims 16 percent and third position claims 11 percent. Even with the endless choice of websites for users to click on in the SERPs, the top three spots still account for over 55 percent of all clicks.
Insight gathered from a competitor analysis can be hugely rewarding for your business. Knowing who your competitors are, where they are ranked and what they are up to alongside the insight to beat them is invaluable to business growth.
To create an effective organic strategy, first and foremost, you need to have a firm understanding of who your competitors are. As an SEO agency, we know that competitor intelligence is the foundation to digital success and should be viewed as a critical element of your marketing strategy.
Our SEO services have formed high performing organic strategies for many businesses including Boyes Turner, 118 118 Money, Exodus Travels and Bond Turner (Been Let Down). Through these strategies, we have helped to improve organic rankings, drive website traffic and boost conversions by closing their competitor gap.
With more businesses and customers online today than ever before, you need to be certain of who you’re competing against – it could be the difference between a conversion with you, or a conversion with them. Do you want to find out who your real competitors are? Claim your free competitor analysis or, if you would prefer to chat with a member of the team, contact us direct.