When it comes to building a practical and achievable SEO strategy, competitive analysis is the most essential aspect. Some online marketers do it so aggressively and some don’t even pay attention to it. In-depth competitor research can work as a roadmap for your business’s SEO strategy and will help you improve your website just like your competitors.
Detailed research on competitors becomes even more necessary for new startups and newbie. Moreover, it can help you understand the weaknesses and strengths of your competitor site and your site. You can then make changes to your sites to overcome those weaknesses and enhance your strengths.
According to several reports from world-leading marketing companies it has been seen that the sites that implement competitive analysis are performing well on search engines than others.
Competitive Analysis: Why is it Essential?
This can allow you to assess where your site stands, who are your actual competitors and how the search landscape appears for important keywords. No matter whether your site is ranking well on particular business keywords or not, there is always a possibility that someone may take over you.
By regularly SEO competitor research, you can easily identify such threats and can be prepared for them. Moreover, you can’t know your rival potential or strategies without it.
It works as a roadmap for what a site owner needs to do to optimize its overall SEO ranking and performance. It is not only limited to basic SEO, but you can actually analyze competitors’ site by page to page that can tell you the potential improvements for your site. Be it user experience, user interface, loading time, site appearance, etc, it can help you learn every possible way to uplift your site.
Identify Your Real Competitors
Sometimes while analyzing your competitors you may do the biggest mistake that can hold you back from achieving the potential web traffic. You may not even think about analyzing your small extensive which is one of the common perception of today’s marketers. Your small competitors may not even appear in the first SERP for primary or short-tail keywords, but they might be making the full usage of long-tail keywords.
So don’t consider only those sites as your competitor that are ranking on your money keywords, but look for the non-money keywords too. This will help you identify your small competitors who are your real competitors.
Find Gaps in Your Keyword
Look the keywords thoroughly on which your site is currently not ranking, but your competitors are ranking on the top. Identify what things are helping them to rank higher on such keywords. Do they have higher backlinks for that keyword? Or do they have better content for those keywords?
When you know why they are ranking, but you not, it can help you fill these gaps by working on required things. It could be making more backlinks for particular keywords or producing more and high-quality content targeting these keywords.
Track Authority Level
Analyzing your competitors’ authority can help you learn many important things about their ranking. You can easily track down the authority level of your rival sites using various SEO research tools.
When some of your competitors have higher authority than you, get to know why they have higher authority than your site. Do their sites have backlinks to highly popular sites or brands? Do they have more number of backlinks than your site? Does their site have a unique content marketing strategy?
Can you do the same or even better with planning to surpass their authority? This proves how important competitive analysis is in digital business. There are many more different ways to do competitors’ research to be an SEO king in your business. Bear in mind, if your site ranks well on most organic keywords you may not even need to run ads to appear on top of SERP unless it is necessary.
Hariom Balhara is an inventive person who has been doing intensive research in particular topics and writing blogs and articles for Tireless IT Services. Tireless IT Services is a digital marketing, SEO, SMO and web development company that comes with massive experiences. We specialize in digital marketing, web design and development, graphic design, and a lot more.
But at the stage of market assessment, if miscalculations are made, there can be some severe irreversible damage.Whether it is the business development manager or marketing head, everyone must calculate the future market’s business potential according to the demands for their product and the competition in the target market.This market assessment needs to be done before making the final decision of your business’ international expansion.
No doubt, there is always going to be some risk involved, but if you comprehensively research your opportunities, the bonuses can be worth all the efforts in the world.Here we are going through the entire process of new market assessment to ease the trouble for you.The Step-By-Step Guide to Market AssessmentYou can carry out your new market assessment in a step-by-step process taking everything into consideration, from regional competitors to cultural roadblocks to customer behaviors.
Before you start looking into a new potential foreign market for your brand, you need to understand where your business stands in your domestic market.
You can do so by asking yourself:Does my product/service satisfy strong customer demand in the local market?How can I learn from it to enter a different market with different consumer behaviors?If currently there is no growth in your present region, foreign expansion elsewhere might not be a perfect idea, as the lack of growth might be an indication that your offerings do not resonate with your consumer needs.Before proceeding with the further market assessment, it would be best if you spend some time honing your product/service, understanding your consumers, and refining your marketing message.Select a country for evaluationJust because you are not active in a region doesn’t mean you are ready to expand your business there.
Therefore, the market evaluation will protect you against a silly decision like this.It is crucial that you conduct a country-by-country market opportunity assessment as a part of your detailed and calculated approach.Your diligent and strategic research will help you to pick one target country for your international business expansion.Analyze your in-house data for consumer behaviorsYou can begin by analyzing your internal data to identify if it can influence your business’ expansion in a new market.Is there a significant boost in your leads from a specific market, although you haven’t invested a lot there?Are there low sales or high sales in some regions?Do you see a high average purchase price in a specific market?Your sales and business development can help you in obtaining these valuable insights.
This again can be done using online platforms.You will be able to figure out your chances of growth in that market once you know where they are getting their most number of visitors, high conversions, and low bounce rates.Evaluate your potential market size and competitionThis goes without saying that you would want to enter a market that has the most opportunities for your business.
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