- Provide a better understanding of your industry and the competitive landscape
- Help define your unique value proposition
- Reveal actionable benchmarks for measuring your ups and downs
- Unwrap rivals’ success strategies and real audience needs
- Inform your overall marketing strategy, allowing you to maintain a competitive edge
Web Traffic Quick Search
With SEMRUSH, you can also find your competition in paid search and local search.
Web traffic is another excellent way to help you identify who controls your space. You can then benchmark yourself against those rivals to measure your levels of competition.
What other questions should you ask during a competitor analysis?
Differences between product offerings can make direct comparisons difficult.
So, we recommend you note all the features of your competitors’ products as this can help to highlight any areas of opportunity.
Here are a few starting questions to ask about your competitors:
- Are their existing products successful?
- Do they have established products that are market leaders?
- Are they heavily investing in launching new products?
- Are they phasing out or discounting any products?
- What are their pricing strategy?
Next, take your list of competitors and start a deep-dive on each of them.
In this case, try some manual research through their sites to explore:
- All of their products and services, and their pricing strategies.
- Any sales or discounts (regularly monitor your competitors to track seasonal products and price changes).
- Additional strategies like referral schemes, free trial offers, and extra perks (think free shipping, free returns, and member discounts).
