Before you get to the fun stuff like colors and images, your website project should start with a competitor analysis. You need to understand the market and your place in it.
Researching what competitors are doing is an essential step in your business strategy. When you conduct a competitive analysis, you evaluate your competitors to understand their strengths and weaknesses and use that to inform your online strategy.
By looking at your competitors, analyzing how they sell, and monitoring what’s said about them, you’ll also be able to anticipate the market. It will help you to build a web presence that engages your audience.
Fundamental Elements of a Competitive Analysis
Competitive analysis research could easily grow into a full-time job, so it’s important to set parameters while making sure the basics are covered.
Start by typing your company’s name or industry into Google. The results page will show you what else people search for under those terms, which could include other companies. It’s these companies that you should look into if they’re not already on your list of competitors.
When you conduct this search, you’ll also see terms related to your business. These could be good keywords to include in your website’s content. These terms – keywords – are words that people use when searching for your products or services.
Tone and brand voice
Look at how your competitors present themselves. The way content is presented sets the tone and voice. Customers use this to judge who to buy from.
Building an audience involves more than just publishing a website. Understanding where competitors are sharing information online will show you what your audience expects.
Conducting a successful competitor analysis
These are just some elements of a successful competitor analysis. You should dig in, go as far as you think you need to in order to inform your business strategy.
Through competitive analysis, you’ll be able to get the measure of the market, and use that information to help your site stand out and get noticed.