Websites are the virtual identity of a business that works as a credible source of information for the customers. Your website is the gateway towards your brand. Hence it becomes essential to make it as appealing and engaging as possible to amplify its online position.
From developing, designing to deploying SEO strategies, there are plenty of things that need to be done to leverage the potentials of your website. SEO is one of the crucial aspects of your website. You can reach out to the best local SEO company to create potent SEO strategies for your website. Online visibility is extremely important to enhance the position of your website and receive better conversion rates.
Along with enhancing your website on the basis of several parameters, it is also important to analyze your competitors’ website and make necessary tweaks accordingly. Without knowing where you stand in the digital realm with your competitor, you cannot deploy strategies to improve your ranking. Conducting website competitive analysis has become a crucial part of success-oriented businesses that have benefited them in detecting threats and scope of improvement in the industry.
Why Should You Conduct Website Competitive Analysis?
Analyzing anything that is deemed to bring profit to your business will bring productivity to your business. When it comes to the website, conducting a competitive analysis will never go waste; instead, it will help you stay ahead of your competitors as well.
“89% of total customers rely on online data to make their purchase decision. Hence, it becomes essential to create a distinctive identity with your website and stand out from the rest of your competitors.”
If you have made your mind to conduct website competitive analysis with a view to stay ahead of your peers, take a look at the below ways through which you can effectively do competitive analysis.
Put Your Customers Into Categories
While you are conducting a competitive analysis, it is beneficial to categorize your competitors on the basis of different parameters. This will help you gauge their position in the market on several grounds. There are three main categories in which you can divide your competitors, primary, secondary and tertiary.
Review Your Competitors’ Customer Experience
While you will be busy enhancing your customer experience through conventional methods, your competitor might be using some innovative approaches to boost theirs. Hence, it is always important to remain vigilant about what your competitors are doing to enhance their customer experience.
Take Customer Review
The most organic way to conduct competitive analysis is to ask your customer about the competitors. Customers will give you an unbiased review about your competitors and what makes their website better than yours.
Examine Your Competitors’ Market Position
Where your competitor stands in the market is also crucial information to ascertain what are the market’s demands and expectations. Jot down some important questions like what customers are buying from them, how different are their products from yours, what makes their products unique, etc., and try to find answers in order to get a clearer picture.
Take a look At The Pricing As Well
Pricing strategy is one of the important aspects of pitching your products or services among the customers. Apart from determining your pricing, it is essential to understand your competitor’s pricing strategy and how they are earning profit out of it.
Use Competitor Analysis Worksheet
Seeking a little help from the technology is always a smart move to ensure everything falls into the right place. Use competitors analysis worksheet to rank your website compared to your nearest competitors. There are different cells in the worksheet marked with different colours that depict the strength and weakness of the website on different parameters.
Every business aims to place itself at the forefront of the global marketplace and create credible position among its customers. There’s no doubt in understanding that a website is the lifeblood of a business that helps in creating a unique identity of the brand. Conducting competitive analysis is a great way to ascertain your peers’ position in the market and where you stand amongst them.
The above mentioned were some of the ways to conduct website competitive analysis for your website. Make the best use of them and include them wisely into your business.