Competitor Analysis Articles Tips
You want to do your own competitor analysis. What data should you collect from your online competition?
Not all data is worth collecting. Get the information you need to make your own marketing endeavor a success.
The best Competitor Analysis Articles I can give you is to start thinking like your customers. I mean really put yourself in their shoes as you go through your website and the websites of your competitors. Once you start seeing the websites like your customers do, you can start to see the website’s strengths and weaknesses. The most important thing your website does is sell to your customers. Competitor Analysis will help you determine how good a job your website is doing. So let’s begin.
Start thinking like a customer
What to do with all this information
Start thinking like a customer
Graphics and Flash may look good but do customers really want to see that the second they arrive on your website? The Font the text is in may look great, but does it really help customers read the text? Are all those pop-ups and banner ads really necessary? The music that plays in the background, how can you know if it is appealing to customers? Some things that look great as a design can actually drive customers away. So what can you do about it?
Start by thinking like your customers. You should have a basic idea of the type of person who shops at your website. Don’t get me wrong, your customers are all unique individuals with needs and expectations all their own. However, there are a few underlying characteristics that are common to all of them. After all, they are your customers; they are looking for the products and services you sell. That gives them something in common, right?
So think about it. Create a profile of a customer. Some things in general about people using the Internet to shop are:
- They are busy people who don't have time to waste.
- They want information about your products or services.
- They are looking for the best value for their money.
- They want the convenience and ease of online purchasing.
What to look for
So you know who your customers are and you have created a general profile of a customer. Now start looking at your competitor’s websites. Look for things that make it easier for your customers to buy products or services. Also, don’t hesitate to make an online purchase yourself to see how easy or difficult it is. Most online companies have an excellent return policy or you can examine their product or service up close.
Things to take note of:
- First Impressions – does the homepage use colors, graphics and fonts that are easy to understand and read? How long does it take the page to load? Is there a time-wasting flash introduction?
- Focus - does the website have one clear objective? Are there too many options that could be confusing for the customer?
- Navigation - can you get from page to page easily? Is it clear where you click to find information, products/services?
- Content - is there an online catalogue of products/services? Are there video or audio clips that give important information about the products/services? Are there forums, blogs or newsletters? Do they have tips, advice or other ways of educating their customers? Is the content authentic and accurate?
- Pop -ups and Banner Ads - does the website have too many that may distract customers?
- Contact Us - can you contact them by email, phone, or address for a physical location/store?
- Sales - do they have online coupons or online incentives? Are there prices reasonable? Do they offer special deals or limited colors, or styles?
- Online ordering - is it easy and clear how to order? What do you have to do if you change your mind? Do they ship for free or quickly or expensively? What payment methods do they offer?
What to do with all this information
I strongly urge you to compile a spreadsheet with the names of the competitors and their URL (web address). List the companies on the left with some notes that will jog your memory when you go back to read your information. You will want to remember what the website looked like so you don’t have to keep going back to it.
Across the top of the spreadsheet, list categories like, homepage, navigation, flash, banners, focus, objective, content, information, products/services and other specifics to your industry. Develop a ranking system for each category and leave room for your own notes. You can give a value between 1 and 10 to each website for each category. But numbers only mean so much. Make sure that you make a few notes about what you thought worked and didn’t work on the website. The more you write the better your analysis will be.
Once you have compiled all this information into an easy to understand spreadsheet, it is time to look at your own website objectively. Ask yourself the same questions that you asked when you were evaluating your competitors. Look at all the same categories and evaluate your website with the same critical eye that you looked at your competitors. If possible enlist some help from employees or friends to help you see objectively. You can then see what your website does that really works and you can see where you can make improvements.
If this sound a little complicated, or if it seems like it’s too big a job. That’s because it is. It is a difficult task to analyze your competitors’ and your websites. You could have it done professionally; take a look at Influence Online Marketing. Read about Influence Online Marketing Search Engine Marketing Services.
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