Doing website competitive analysis to beat competition

Every savvy business strategy must include carrying out a competitive analysis. This is to enable you to know how you rank among the peers. Knowing your fiercest threat helps, you devise the best strategy to beat them and where to focus your efforts. Research has shown that many of the businesses do not do a competitive analysis on their website and this might explain why they are performing poorly. The success of any business is defined by the ability of the company to respond to the changing market dynamics. They are also required to understand the strengths and weaknesses of the competitors. This would give you a leap ahead of the competition.

Then, how do you do a competitor analysis?

Firstly, you must establish who your competitors are

When you know who your competitors are, this serves as the benchmark against which you rate the company’s presence online. You need to be clear on what you want and avoid an approach guided by misconceptions. The competitors keep changing and that is why you need to regularly carry out competitor analysis. Here, you can ask your customers and prospects to help you identify who these competitors are. The customer is better placed to know who your competitors are, you could also ask the sales team-these are the guys who are always facing customers and therefore, know them better.

Use competitor analysis worksheet

This is a heat map that ranks your website against the competition. Once you enter figures in the boxes, the color changes and thus, when you’ve filled the worksheet with data, it populates and gives you a visual representation of the weaknesses and strength between you and your competitors. Here, you are clear on the areas you need to improve on to beat the competition.

Evaluate the strategy of the competitor

There are competitors that are doing better than you. What do they do differently to make such an achievement? You must engage the services of a web design Singapore professional and get to know the strategy they employ that has made them successful.

Without knowing how your competitors are, faring could give you a unexpected surprise. Keep an eye on your competitors and always ensure you are ahead of them.

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