Owning a Business is Hard Work.
Lets just be honest. Brutally honest.
It’s a ton of late night’s, direct responsibility and difficult decisions.
However, the awards and opportunity are endless. Especially if you’re willing to work for it.
I understand how entrepreneurs can’t dedicate a ton of time to certain aspects of their business. So, we’re here to help.It’s easy to see, especially from a digital standpoint, what your competitors are doing. Now, you might not want to emulate them, but, you could be wondering how they’re performing in certain digital aspects like:
• Social Media Presence & Engagement
• Website Traffic Estimates
• Organic Keywords
• Overall Web Rankings
By uncovering these few items, you can get a solid grasp on the competition that’s performing better than you, and learn to utilize these tools to your advantage for future marketing endeavors.
With just a few FREE tools we’ve uncovered, you can setup a competitive report in a few minutes. We know your time is limited.
Yes, it can be done over that morning coffee.
￼1. Find Your Big Competitors
The first thing you want to do is isolate your competition. Choose 3-4 solid competitors as a benchmark of comparison. Don’t be afraid to aim high. Perform a Google Search for specific keywords related to your industry. We’ll use the keyword “mens shaving subscriptions” as an example.
The three we highlighted above rank #1,2 & 3 in organic search out of about 2.2 million SERPs (Search Engine Result Pages). This tells us that these competitors are powerhouses in the industry and receive tons of traffic daily. So, you’re probably thinking: “As a small business owner, how can I even compete?” Don’t worry. When there’s a will, there’s a way to reverse engineer it.
2. Collect Information About Your Competition’s Web Presence
Yeah, this is the fun part. One very versatile tool is SEM Rush. We’re going to uncover a plethora of information about your competition within seconds. Keep in mind, this tool offers a free, limited version. It will do just fine for a simple competitor audit, but for more in-depth analytical work, click the link above. First, visit SEMRush.com. This website provides competitive data for websites.
Once you type in your competitor URL, you’re taken to the Domain Overview.
• Understand Competitors Estimated Traffic
• Find Out How Much They Spend on Adwords (PPC)
• Where Their Backlinks are Coming From
• Competitor Top Searched Keywords
• Competitor Top Paid Keywords
• Top 5 Competitors (Level of Competition)
3. Collect Info on Competitor Social Engagement
Now that you have a solid overview of your competition web presence and ad spend, it’s time to take it Social. Using Facebook Insights we can collect information about your competitors in a simple, yet intuitive, dashboard. As a Facebook Page owner, visit your Facebook Page. Once there, hit INSIGHTS like below:
Once on the overview page, scroll down to the bottom to the Pages to Watch area. Facebook’s algorithm does a GREAT job at pulling in example competitors based on factors like similar engagement, services and targeted demographics. This area helps you compare the performance of your Page and posts with similar Pages on Facebook. Just click Add Pages to get started.
Once completed, take a look at the aggregated data provided by Facebook.
Here, you can see how you stack up against the competition. For example, if their engagement was higher during the week, visit their Facebook Page, to see what messages and content they posted that leveraged their fanbase effectively. Also, take a look at their post consistency and how their Total Page Likes stack up against yours. By monitoring this data, especially those high level competitors that use Social to their advantage, you can start to understand and develop original content you know will perform well on social.
4. Leverage Your New Found Data Dominance
Now that you have a ton of useful data, it’s time to put it to use.
Download Our Quick Competitor Profile Doc HERE. This will provide your team with a very useful stream of data to leverage for your company’s success. This competitive analysis blueprint will help you maintain and improve your position by understanding and tactfully using your competition’s data.