With competitive analysis, many would like to do their homework and choose the most viable business Internet marketing practice for their business. This is especially true in the domain of E-commerce.
However, most of the common competitive analysis is not based on a more rational process. Rather, many use this kind of analysis to draw conclusions on one particular business E-commerce company. In order to be effective, it is necessary to make a distinction between what to and not to apply the information in one’s competitive analysis.
The first thing to think about is where to find these potential competitors. This information is found in competitive analysis guides that have data with regards to website popularity. However, the great majority of this information is incorrect, outdated, or provided by company insiders.
The information usually begins with the search engine optimization, or SEO, business entity’s website. The data is then added to by the company’s marketing professionals, or more accurately their marketing analysts. The marketing analysts then make a series of recommendations based on this data.
You can save yourself a lot of time and money if you properly analyze SEO marketing information for your own business. These types of practice often do not contain important data, and are more often than not reactive to current trends. Some companies want to do things in a certain way, but simply do not have the time to change it, even though that may not be in the best interest of your company.
For example, SEO-focused firms may claim that all of their data includes firm market research. While this is true, the problem is that their data is incomplete. It does not give a complete picture on which keywords and site elements are important.
You may have this data, but your SEO market research is not so thorough. In fact, it is likely that you may be telling a complete story which a professional firm would have.
When you conduct this type of analysis, do not spend so much time looking for clues that your competitors have already found. You want to know exactly how to do it, and how they are getting there.
You will get your final outcome by understanding how your competitors are achieving it. You want to know if you have a plan to compete with them, and where you need to focus your efforts. If you are not able to obtain the right data to do so, then you should run away.
The data you gather is simply the backbone for your competitive analysis. You will not be able to get the information you need if you don’t have the right questions to ask. As a general rule, you do not want to spend the money or work to gather this information.
By performing a web-based competitive analysis, you can ensure that you are having the best overall SEO strategy to achieve your goals. Instead of making your business competitive in terms of competitive analysis, you will be able to stay on top of your competitors. Simply ask yourself what you need to get, and follow the information you get, in order to continue to excel.