How To Do a Competitive Analysis In 5-and-a-half Easy Steps
In the world of business, understanding your competitors can be as crucial as understanding your own operations. While copying your competitors isn’t recommended, keeping an eye on their activities can provide valuable insights. Here, I’ll share my top five ways of spying on your competitors, helping you stay ahead of the game.
1. Google Alerts
Setting up Google Alerts is at the top of my list. All you need to do is type in your competitor’s name and create the alert. This tool will send you a notification every time your competitors are mentioned in an article. It’s a fantastic way to stay updated on their activities without having to do daily checks.
2. Social Searcher
The second method involves using Social Searcher. Just type in the competitor’s name, and it will show you every social mention they’ve had in the last week or month. This tool is particularly useful for tracking their social media presence and engagement, giving you valuable insights into their social strategies.
Another powerful tool for competitor analysis is SEMrush. Head to Traffic Analytics and type in the competitor’s name. It will not only show you their audience ranking keywords and the traffic journey but also their top website pages. This can help you understand their SEO strategies and what type of content resonates with their audience.
4. Facebook Ads Library
Facebook Ads Library is arguably one of the best spy tools available. By filtering by country and selecting all ads, you can see all of your competitors’ current meta ads and headline text. This is a great way to understand their advertising strategies and perhaps discover some inspiration for your own campaigns.
5. Similar Web
Last but not least, Similar Web is now one of my favorites. It gives you a very specific breakdown of their audience demographic and similar editors. Best of all, it shows you where their traffic and revenue comes from. This can provide in-depth insights that can help you shape your own marketing and sales strategies.
Remember, the goal of spying on your competitors isn’t to copy them, but to learn from them. Use these tools to understand their strategies and use this knowledge to differentiate your own business and stay ahead of the competition. Keep a close eye on your competitors, but always keep your focus on providing the best for your customers.