Quick Guide: The Importance of Competitive Analysis
The answer to the latter question is yes — competitive analysis is a big deal in ensuring the growth of a business. In the past times, before the rise of the internet and social media, brands were impervious to lose their customers if reputation was established well. Nowadays, many factors like — price, ease of review, and the trend can sway customer loyalty towards a certain brand. For a brand to survive and make it in the competitive times, the brand must be aware of everything their customers think and feel. Seattle SEO services help with the analysis of competitors for rankings. How customer experience affects the growth of the brand should be also be considered.
What is Competitive Analysis?
This is simply a comparison done between key players in a certain field of specialization. The competitive analysis may be done by comparing your business to your competitors.
Factors Affecting Competitor Analysis:
There are some basic aspects you should look at every time you are doing competitor analysis.
The Relation between Your Brand and Audience
Before taking an analysis of comparing yourself to your competitors, it is necessary to first check the relation between your customers and your brand. The reviews that your audience makes to your services matter a lot. How well are they satisfied with your services? What can you do that makes them uncomfortable? What are their suggestions for the improvement of services to them? This is all to establish your place so as to design a better starting point.
The Relation between Known Competitors and Your Audience
You do not solely own your audience. Analyzing your audience’s preferences for your competitors allows you to know where you are left behind and how to rise to the top. This information is required when building a competitive strategy.
Breakdown of Competitor Analysis
Probably you already should be using segmentation during messaging to individualize content to specific recipients within your audience. New segments often rise as you start exploring more beyond your brand.
Are you in a position to reach your customers on every platform possible? Failing to analyze your competitor’s channels, lags your analysis from attaining the desired goals. You may be too popular on one social media platform but lack popularity in the other where your competitor dominates.
Your audience’s content preferences change frequently. This keeps you on track to know what the customers need and how they want it. You should compare your competitor’s content with the services you offer to ensure you are at the forefront of all.
Customer satisfaction does not solely depend on the content you offer. It also entails your audience’s referrals to others which suppress your competitor’s actions. Your customers should also serve as ambassadors for your brand by recommending your services to others, this can increase your audience volume.
The implementation of search engine optimization ensures your website gets high ranks in search engine rankings. Seattle SEO services enable a business to grow while increasing your brand value online.