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The Importance of Competitive Analysis

The Importance of Competitive Analysis

We get it. You get handed a project and you want to make a start on it straight away to make a good impression, right? Wrong. While “good first impressions count”, before diving into the deep end, it’s important to take a step back and consider the objectives of the campaign.

Here at Absolute Digital Media, each of our campaigns start with a site audit to allow us to benchmark our clients against their competitors, helping us to produce a point to refer to within our monthly reports. For more information about our SEO campaigns get in touch with a member of our expert team on 0800 088 6000 or to find out how to conduct the “perfect” competitor analysis, be sure to continue reading.

Table of Contents

  1. How To Effectively Perform Keyword Research
  2. How To Identify & Evaluate Your Key Competitors
  3. How To Position Your Brand Among The Competition
  4. How To Develop A Tailored Strategy
  5. How To Get The Results You Want

 

1. How To Effectively Perform Keyword Research

Earning your brand a distinct advantage can be a challenge, especially if your business is new or has recently begun to compete with some of the world’s largest, most recognised organisations. When determining the strengths and weaknesses of the competitors within your market, performing in depth keyword research is the perfect starting point. A full audit will provide you with the direction you need in order to make sure that you target the right audience, helping you find new topics along the way.

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Once you have identified your keyword universe and select your chosen keywords based on their relevancy (how important certain keywords are to each page of your website) and search volume (the total number of searches performed), the next step is to prioritise and categorise your list. We suggest creating 2 lists; one that can be applied to existing assets and another list that needs to be integrated into new marketing assets, providing you with two separate focuses.

While one team works on those that can be applied to the existing assets, the other team can work on how to integrate the second list into the new marketing assets whilst ensuring that the two remain aligned with one another.

Top tip: When prioritising your keyword list, be sure to remember that it must be based on how likely the created content will rank for a specific keyword.

The next step to SEO success is to identify and evaluate your key competitors. While you may already have a fair idea of what brands you are up against, additional research can help you better understand the market in order to effectively target customers.

Like most things, identifying your competitions is easily said than done. There are four main types of competitors which are: direct, indirect, perceived and SERP, and you want to identify all four in order to ensure that your campaign develops at a favourable pace.

2. How To Identify & Evaluate Your Key Competitors

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3. How To Position Your Brand Among The Competition

Once you have identified 3 or more of your top competitors, take note of those that are targeting the same keywords as your business. This will help you to better understand their SEO strategy, heightening your chance of achieving a slice of the market share. With this insight, you can then further utilise your keyword research in order to identify those that are ranking in the top positions on Google. For a more detailed analysis, hand pick competitors based on their rankings and frequency.

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4. How To Develop A Tailored Strategy

As a multi-award winning digital marketing agency, we pride ourselves on providing high-quality, tailored marketing strategies and, having worked with a number of brands including Cladco and payday loan lender Uncle Buck, we understand the importance of continuously monitoring the industries we work in.

Our teams work closely to develop a tailored strategy for each of our clients, working to identify the exact number of competitors they are competing against in the SERPs. With this information, we are then able to accurately comment on the profitability of the chosen keywords and how it compares to those that are already ranking efficiently.

Top Tip: When positioning your brand among the competition, be honest with yourself. In order for your campaign to progress, you need to accurately rank yourself against some of the biggest names out there. Start as you mean to go on!

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At the very start of our campaigns, we provide what we like to call an “SEO Blueprint” highlighting everything from a breakdown of our client’s organic visibility, to a full content audit to identify how they can successful tap into a larger part of the market.

We provide our clients with a full break down of their organic visibility to ensure that they understand their current organic ranking performance to build a benchmark followed by a full content audit to identify new opportunities and evaluate the quality of existing content.

With this insight, our teams are then able to construct a tailored strategy which highlights every stage of the campaign to help ensure that we do above and beyond for our clients and generate results.

5. How To Get The Results You Want

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While it’s easy to focus on running your own race, it’s just as important to monitor what’s on your competitor’s agenda. It’s an ongoing process, but one that can help you to continue to understand your strengths and weaknesses in addition to available opportunities in line with your competitors.

Top Tip: By breaking your “blueprint” or strategy down as much as possible, you can be sure that you haven’t forgotten any important details that are often overlooked.

For you own competitor analysis, get in touch with a member of our expert team on 0800 088 6000, today.

To find out more about the digital marketing services available at Absolute Digital,
get in touch on 0800 088 6000 or fill in the contact form below.

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