Digital competitive analysis, also known as competitive research, is an in-depth investigation that focuses on gathering and reviewing information about your competitors. It is also called competitive research.
Why Do You Need to Do a Digital Competitive Analysis, anyway?
The chances are that there are a lot of businesses out there that offer the same products or services as your own.
You need to know more than just what they do or look at their website.
This will help you figure out what’s going on in your industry and, most importantly, what your competitors are doing to get new customers.
Let’s talk about the best ways to do your digital competitive analysis.
Information about how to do a competitive digital study.
1. Find out who your competitors are.
Even though you may already know your competitors, it’s important not to skip this step and do your research the right way. We suggest finding 5 to 10 competitors using eye10.io.
It’s good to use Google at this point. It doesn’t take long to type in the type of service or product you’re offering or selling in the search bar. In a split second, you’ll see your top competitors on the search results page.
2. Check out the websites and user experiences of your competitors.
When you start a digital competitive analysis at eye10, the easiest way is to look at their site. You need to pay attention to these:
- Is the site’s design up to the minute?
- When does the site get changed?
- How are the services and products shown?
- Do they use stock images or high-quality images that they made?
- What kind of language is used to talk about the products and services?
- When they write, what kind of things are they writing? How often do they do it?
- If so, is their content better than yours?
- What kinds of calls to action do they use?
- If so, where is it? If not, are they using another way to build an email list or get people to sign up?
- Do their social media icons show up when you look at the site?
- Is the site easy to use on a mobile device?
- Is it easy to get in touch with someone on the team?
- How many ways can they get in touch with you?
- Do they have a way to get good SEO? It’s possible to look at the page title and URL structure, the H1 tags and the internal links, the categories, and the tags on a web page.
- What do you need to start your digital competitive analysis off right?
3. Find out where your competitors are in the market.
This is important because it will help you figure out why customers like a particular company and what you can do to stand out and get more customers.
To figure out where they fit in the market, you can use these questions as a guide:
- Are customers buying from them because they offer a cheap product or service, have a good experience, or are they good at what they do?
- How is their product or service different from the other ones?
- With their marketing copy, what are they stressing the most?
- What makes their product or service stand out from the rest in their copy?
- To get a better idea of how your competitors talk, we suggest the following:
- Join their email list. Check out what you’ll get and the messages they’re using to turn leads into customers.
4. Check out what your competitors are doing on social media.
Using social media platforms is an excellent way for businesses to know their customers and find new ones.
Because of this, it’s essential to figure out how your competitors are using social media and how they’re using it in their marketing.
Find out how easy or hard your competitors can be found on social media, then do the same thing. When that’s done, it’s time to check to see if their profiles are still up or not.
If they are, you’ll want to look at them very closely to see if they are well using their social media profiles.
Conclusion
When you’re done with the research, you will have a much better idea of what your competitors are up to than you did before.
By looking at all the information you have, find at least one thing you can improve. These things could be part of it: content creation, search engine optimization, or even social media interaction.