Finding out who your main competitors are in your industry is a great way to determine the strengths and weaknesses of their sites. You can then use that knowledge to plan how you will go about your own web design to allow your company the most success. The competitor analysis process gives you the resources and tools you’ll need going forward on your project.
What is a Competitor Analysis?
This critical step in your marketing strategy is the evaluation of your competitors’ websites. You determine what you think is working for them and what is not. The reason for this is to compile a list of their strengths and weaknesses to determine what to include in your own site for performance benefits. While looking at your competitors, make sure to take note of their:
- Search rankings
- Target market
Taking time to do a complete and thorough competitor analysis will be beneficial for the entirety of your project and while the website is up and running.
How to Properly Conduct a Competitor Analysis
You first need to really find out what the main needs and goals of your company and website are. Once you have this identified, you can be more thorough on your own website design project. There are a few main steps to go through in order to conduct a successful competitor analysis:
- Find your competitors (both in real-life and online competitors)
- Examine their websites and customer experience
- Identify their marketing position
- Peek at their pricing
- Review their reviews
- Assess their social media
Instead of ending up with a dearth of information, do extensive research. The more you find, the better your company will be in the long run.
Stay ahead and on top of the competition with your competitor analysis. Continually update the analyses to keep learning new trends and new ways to keep your own website up to date. Just checking in on competitors every once in a while, allows you to know how their businesses are changing and any new competitors you may need to stay on top of. Learn all about your competitors and then start building your business website.