How to monitor your competition
Everybody wants to know what their competition is doing. It is our most primal instinct. In school, you always wanted to know who the best student was and how they were getting there. You’d then try to do what they were doing in order to simulate the same results.
In business, it’s the same thing. Every business wants to know what their competition is doing successfully and then attempt to one-up them so that they can win a bigger market share. Any good marketer does this for a portion of their day.
However, when it comes to digital marketing, some things are going to vague and other things are going to be extremely tedious to do.
If you wanted to find out your own website traffic, you can easily get that information using Google Analytics. However, Google Analytics is not going to show you the web traffic of your competition. If you wanted to know what your competition is doing on social media, you just have to look through all of their social media channels, look at the posts and then look at engagement rates. This is the tedious.
However, there are some tools that you can use in order to find out what your competition is doing. Let’s go through some of our favourite tools. Now do take note that not all of these tools are free to use. Anything useful is always worth paying for. However, most of these things have a free trial that you can use to judge for yourself how useful it is.
Semrush is a great online tool that can give you information of your competition such as search traffic, top organic keywords, main competitors, backlinks, indexed pages and a competitive positioning map. Simply go to the website and put in the url of the website you want this information for and you will get something that looks like this.
If you invest some money to get the paid version, you can create projects with your competitors in it and get all the information with a click of a button rather then to keep typing in your competition one at a time. The paid version also gives you some decent changes that you can make to your website if you have little knowledge of SEO.
SimilarWeb is a website that will show you the traffic information of your competitors. All you need to do is to put in your competitors’ website in and you can get results such as total visits, average visit duration, pages per visit and bounce rates.
Scroll down on the report and you will be able to find traffic sources information for desktop, referrals, organic traffic information and more.
More businesses are putting a lot of emphasis on social media these days and for good reason. Competition on social media is so important to track these days if you want to get an edge over your competition. We have previously talked about the importance of social media listening, so you should already know how we feel about it.
Hootsuite works with over 35 social media platforms, so you are able to track your competitor’s social media and also listen out for what people are saying about them as well.
You can also keep up with hashtags that your competitors are using. This is easily the most useful tool for social media listening.
Using these tools will be able to give you an insight of what your competition is doing. However, what you do with this information is more critical. Try to create campaigns around competitors that are doing better than you in certain areas and spot trends that you may have missed and get on it as quickly as possible so that you can gain a significant advantage over your competition.