At Insightful UX, we encourage stealing. Today, I’m going to teach you how to become the best digital thief you can be. Hold on, before you put on your burglar mask and grab your burlap sack, what I really mean is this: you need to perform a digital marketing competitor analysis!
When you analyse your competition and learn from them, you grow your sales online. But, where do you start? Read on.
Learn from your competitors
If you want to become the best in class, you need to learn all about your rivals. When you start your competitor analysis, think about who you’re competing against. Then, look at their websites and make a note of the good stuff – and the bad stuff. What’s easier on their website compared to yours?
By swotting up on competitor websites, you create a benchmark. Be inspired by their creations! Learn from their mistakes and develop the best way to engage your prospects.
Do what your online competitors do… but just do it better. Sound good so far?
Key areas to steal in a competitor analysis
When we perform a competitor analysis, we focus on these targets:
Messaging and content: Who is the competition talking to?
Language and tone: What are they trying to say?
Web page imagery and layouts: How does the site look?
Website functionality: What can you do on-site?
Product price points: How do your prices compare?
Social media activity: Who’s still using Foursquare and who’s lighting up Instagram?
Paid search advertising: Should you bid on these keywords too?
If you can’t find inspiration from your competition, then don’t be afraid to look out of sector for ‘best in class’ approach.
Compiling your findings
Completing a competitor analysis is no small task – often, you’ll find good and bad points. Above all, you’re looking to find areas that you can develop into your own strategy.
Remember: You don’t need to implement everything you think looks good on the page. Instead, prioritise those you believe will have the biggest effect. Then, perform an A/B test to see which has the most significant improvement.
There’s no need to re-invent the wheel. Learn from the competition – and do it better!
Don’t know where to start?
Insightful UX can help! Our full digital review includes:
- A website audit
- A website usability review
- An in-depth competitor analysis
We present all our findings in a workshop with you and provide a prioritised action plan with a minimum of 50+ recommendations based on potential uplift.
Contact us today if you’re looking to grow your business online.