30-second summary:
- SEMrush have created the guide ‘How to Do Online Competitor Analysis’ to help you start looking at what your competitors are doing.
- Analyzing your competitors’ digital marketing strategy can help you optimize your campaign and your upcoming ideas to improve both your short and long-term wins.
- A website traffic analysis can help you learn more about your biggest competitors, their performance the past months, their audience and whether there had been any big changes to their results.
- A good way to get started is to explore the general overview of your competitors’ digital strategy, their traffic, the most popular locations and whether there are any seasonal trends. The analysis will help you dive deeper into the market trends and how they compare to your own performance.
- You don’t need to reinvent the wheel to run a successful advertising campaign. It’s okay to look at your competitors’ ads to find inspiration for your upcoming campaigns.
- You can analyze your competitors’ online mentions, social media presence, their overall reputation and the number of backlinks to get a better idea of their strengths and weaknesses.
- Competitor analysis can help multiple teams for both short and long terms goals in your business. Start by looking at different strategies and channels and make sure you gather the findings in one place to evaluate your own performance.
A frequent review of your digital marketing strategy can help you stay successful with your tactics. However, focusing on your own tactics is not enough nowadays. You should be able to know what your competitors are doing and how you can outperform them.
Analyzing your competitors’ digital marketing strategy[1] can help you optimize your campaign and your upcoming ideas to improve both your short and long-term wins.