In this article, we look at the five steps to a successful online competitive analysis for anyecommerce business. We’ll be using tools like Ahrefs, Moz, and SEMRush to both identify competitors and then gain insights and action items from their data. 1. Understand your client's goals Usin...
product, and service. The goal of the competitive analysis is to gather the intelligence necessary to find a line of attack and develop your go-to-market strategy.
But there’s more to it: for instance, using the best SEO tools to optimize the content’s quality to make it more search engine friendly. And like us, a competitive content analysis remains your secret weapon for catching up and eventually leading the pack as well. Now, the question is...
Another benefit of service-based businesses is that you don’t necessarily need a large number of customers to make a profit. Depending on the service you’re providing, a handful of high-quality clients can be sufficient to support yourself full time while working from home. 6. Teach online...
Google browsing aside, to really understand your online competitors you’ll have to take a deeper dive into their performance analytics. Luckily, there are plenty of competitive analysis tools to help, which will allow you to improve your SERPs (Search Engine Results Pages) position. ...
A good competitive analysis provides a realistic understanding of your business’ position in the market. Rather than make assumptions, use your report to make data-driven calculations of how your business compares in terms of market share, customers, messaging and differentiation. ...
In addition, use the market trends you’ve identified to see if your business is resilient to shifting consumer tastes. Maybe there are opportunities that your competition hasn’t yet capitalized on; what investments or changes can you make now that will come to fruition in a year or two?
Of course, you need to make a profit. But if you notice that your competitors price similar products lower or constantly offer discounts, you may need to change your pricing strategy. Place The third P refers to where your product or service is available. This can be a physical storefront...
This framework is particularly useful for analyzing an industry's makeup. By understanding the structure that makes your industry (or a competing industry) thrive you can find opportunities to surge ahead. The “Five Forces” refers to five key elements you should base your competitive analysis on...
How to Make Sense of Business and Competitive AnalysisBabette E. Bensoussan