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    7 Replies Latest reply on Nov 27, 2012 9:29 AM by Moderator Jim

    How to do competitor analysis?

    Jim Peters Tracker

      If you have a website and you want to increase its rankings in the search engine searches then how can you know about the competitors for your business? How can competitor analysis be done? Does anyone have any ideas on this because I feel that this is one of the important aspects when doing internet marketing.

        • Re: How to do competitor analysis?
          Moderator Berta Guide

          Hi Jim,

           

          Those are all great questions! I can't wait to see how our members respond.

           

          ~Berta

          • Re: How to do competitor analysis?
            Manuel Ramirez Adventurer

            Online competitor analysis is done only through the keywords including location, If you going to search on google with your primary keywords and the site which come on the top 5 or 10 which providing the same service what you provide then they are your core competitor. So this is the simplest way to find competitor through the help of google and keywords. All the best.

             

            Selling Inherited Property

            • Re: How to do competitor analysis?
              b4bconnect Wayfarer

              Hi Jim,

               

              Google has a keyword tool (search for "google keyword tool") that allows you to research keywords based on your own input as well as entering a specific website (i.e. competitor). It will return suggested keywords to you based the websites content.

               

              Manuel is right. You do need to search for your competitors based on keywords you will target.

               

              At the end of the day it's more dependent on what you do and less on what your competitors are doing. By implementing a sound strategy you will be able to increase your rankings.

              • Re: How to do competitor analysis?
                rodgersch Wayfarer

                Hello Jim,

                 

                Let me give you an example that may or may not be useful to your particular circumstance, from the viewpoint of a business appraiser, since it is something I have to do for every appraisal.

                 

                Let's say you are a local roofing contractor. First of all, if you have been around awhile, you should know who else is doing that kind of work in your city. If you don't, you need to find a source for that information to start from. One source, traditionally, was your local yellow pages.

                 

                Unfortunately,  local private businesses don't often share their confidential information so the next challenge, once you have a list of say 5 roofing contractors, is to get more information on them. Sorry, but that is tough to do and requires a lot of time, expertise, and creativity on your part, especially if you were clueless going in, in the first place. It's the same reason I, personally, don't try to put a roof on my house.

                 

                Rodger Schuester

                • Re: How to do competitor analysis?
                  AMULETAnalytics Adventurer

                  A powerful way to predict how potential customers view your company as well as competitors is through use of Sentiment Analysis which is part of a field that is getting a lot of press right now - Data Science. Data science uses complex mathematical algorithms involving machine learning. The way it works is you obtain social media feeds which consist of vast stores of unstructured data, like Tweets and Facebook posts. The machine learning algorithms dissect this data into high level sentiments, or how people feel about your company, product or competitors and their products. With this data in hand, you can make strategic decisions about sales promotion, product lines, new offerings, etc. This technology affords better competitive advantage through use of strategic data assets.

                   

                  Daniel (AMULET Analytics)

                  • Re: How to do competitor analysis?
                    Jim Peters Tracker

                    Thank you all of you for your quick replies. These are definitely of great help but what I want to know is that when I am doing internet marketing I am considering SEO and SMM and the like. So, how do you where is your competitor getting a link from. Which are the sites wherefrom he is getting backlinks.

                    • Re: How to do competitor analysis?
                      Moderator Jim Ranger

                      Great replies so far, keep them coming!

                       

                      Jim