The key to any successful website is built on good market research. I would argue that most web businesses fail because they haven’t properly researched their market or competitors.
Before you start a new website it’s important to take stock of your offering. Some important tasks to complete are:
- Analyze your strengths, weaknesses, threats and opportunities
- Identify the companies that are in direct competition with you.
- Make a detailed analysis of your competitors products or services in terms of their features, value and target, how they are marketed, distributed and advertised.
- Research and analyze the competitor’s strategies and objectives, study how they market themselves through press releases and advertisements
Researching a competitors online strategy has become a whole lot easier with the release Keyword Spy Tool. The tool basically exposes what your competitors are doing in terms of PPC and Organic so you can quickly identify opportunities to better them.
Competitive Analysis – Keyword Research
For example, if I am looking to see how are competitors for search engine optimization” in the UK, I can simply punch the keyword in. The great thing about this tool is the range of countries it covers:
It’s usually quite difficult to get proper keyword marketing research in countries other than the UK and USA. The next screen is a break down of all competitors for this keyword, showing a thumbnail for each and how they are performing on both paid and organic campaigns.
You immediately get the top sites bidding on the keyword “search engine optimization”
You also get the top organic competitors for this keyword:
Now clicking on one of those sites brings you into another screen with more information about a specific domain.
You get a bigger thumbnail to see what kind of site you are competing against. You also get how many keywords this site is bidding on and how many keywords they appear for in the first two pages of Google.
PPC Keyword Research
You can further dig into your competitors PPC campaigns and look at every aspect of it. It gives you a total breakdown of what they are bidding on and each position those keywords appear in.
You also get a breakdown of the ad variations being used by this competitor. This is GREAT information. You can quickly identify what that competitors feels is their unique selling points.
Organic Keyword Research
As with the PPC details you get there is a full breakdown of organic keywords this site ranks for on the first two pages of Google. Alongside this data you get competitors for those keywords giving you a quick overview of the type of market you are in.
This tool really does give you a central location to do all your competitive analysis. It gives you a quick break down of the market you are in and what opportunities exist to beat out your competitors. Check out Keyword Spy Tool where you can join up for a Demo and also take a look through the help videos.