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Competitor Analysis

This module covers competitive analysis. It’s very important because if you type in the name of your product or service online you will either be somewhere, or you will be nowhere.

It’s very important you start to identify and look at the people who are the top of the search engines, who have a presence on Facebook or LinkedIn, and just identify what they are doing. Now it’s very easy to track this, and it can be them as an organisation or a particular product or service. Then when you start to use tools, like SEMrush, you can analyse the traffic that is going to your competitor’s website, which keywords they utilise – whether that be paid for or organic – you can begin to see and build a profile of where they are gaining their business from online and you can adapt your strategy along similar lines.

If you do pay per click (PPC), that then gives you analysis on whose bidding against those keywords and the percentage share that you have of that keyword. Obviously the more important that is to your business, the more key that is a product, the more you need to make sure you get more market share and you top more than your competitors.

So by looking at some of their key competitors we are able to identify which traffic they are getting. For example, ‘Birmingham estate agent’, ‘buy my house online’, those types of phrases identify which ones were the most important to the competitor, use them for that particular estate agent, and then by using PPC on a low key basis, be able to identify how they are performing in that environment versus the competition. And what is interesting, over the six month period, to date, that we have done it is that, as we have dominated more and more the competitors – who tend to be more national – have dropped off, they have not stopped what they are doing, but they have stopped competing in this particular area which is an interesting slant and it means that this particular client, online, is dominating Birmingham extremely well. As a result, they get more instructions which is the key driver of the business.

The key take-aways from this section are that you can understand very quickly what works and what doesn’t work, online, by looking at your competitors’ strategies and if you are a local based company that is even easier.

So locally, understand who dominates and why, or nationally, understand who dominates and why. Go and have a look at their traffic, have a look at their online presence, what they do, their social media presence and use, or employ someone, who has the tools available to really give you some answers as to what they are doing so you can then make a judgement call as to whether you want to steal some of their traffic or whether you have got your own strategy which you want to pursue. Either way it gives you more data to enable you to make a more informed decision and ultimately that, again, is a driver towards improved margin and improved bottom line.

Video 3

 

 

From an SEO perspective the keyword of this page is digital marketing advice Birmingham. For those of you that use Yoast as an SEO plug-in you’ll know what I mean.