Online Business Competition Assessment – How To Do It?

Analyzing your business competition is vital part of your business. Competition assessment and analysis helps you to tell the strength of your businesses against your competitors, the weak areas and strong points. It also enables you to become proactive and make first moves to take more of the market.

Competition analysis is a detailed review of business of your rival sites and then you measure yourself against them. In online business, the competition analysis is easier to do than offline and can be performed with minimum tool.

First thing is to  know who are your competitors. These are the websites which compete with keywords of your sites and offer similar products. Not all sites competing for the same keyword would have similar products. Some of them would have different monetization strategies.

These sites can be your competitors in organic search but you can actually benefit from their traffic by offering partnership.

Your actual competitors are the one who also sell the product which is similar to yours.

After you have made a list of your competitors, you need to examine them in detail, one by one.

Links

How many links are there which point to a particular competitor site? What is the quality of the pages that are sending the links to their sites. This can be judged by the page rank and number of links the inlinking pages have.

Next, note down the keywords that incoming links to the competitor site  are using. Also, take into account the pages of the site that are being linked to.

Search Engine Status

How many pages the site has got indexed. What is the page rank of the website. What are the keywords that their site is dominating in the search engine rankings.

Traffic

What is th number of visitors that the competitor website is getting?What is the alexa ranking of the website. Also check for compete ranking.

What are the methods that they are using for traffic generation?  How does your efforts  stand in front of them. Are they using any paid advertising. What is their approximate budget.

PPC

Is your competition using any PPC campaign? If yes, what is the daily expense. What are the keywords being bidded.

Product Range

How many products your competition is offering. Are they utilizing the full potential of product range. How can you beat them?

Sales Process

How is the sales process? Is there an effective funnel? What about backend sales process. Are there measures to increase customer loyalty.

Is there an affiliate program. How effective is the affiliate program?

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After you have data in place analyse and apply.

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