Competitive Analysis Tools are used In order to keep ahead of the competition, as sometimes you need to be aware of what they’re up to. This sounds simple, but it can take lots of time and effort, and sometimes even result in business owners taking their eye off what’s really important. The good news is, in today’s digital age there are plenty of useful tools to help you monitor all types of competitor activity quickly and efficiently. Here I have listed some tools to Analysis competition, that are useful and everyone should know about it. Let’s start with covering the basics first.
Before moving forward do read: 5 Recommended Social Media Tools for Content Marketers
What is Competitor Analysis?
Competitor analysis is the assessment of the strengths and weaknesses of the competition, for the purpose of defining, or refining your marketing strategy. So the need of Competitive Analysis Tools arises.
Why Should I Carry Out Competitor Analysis?
You should analyze the competition to help you to:
- Identify your strengths
- Recognize their strengths
- Find weaknesses in the competition
- Notice your own weaknesses
- Find opportunities in the marketplace
- Avoid threats from competitors
Still not sure whether to Carry Out Competitor Analysis or not? Well here is a wonderful article on 10 Benefits of Regular Competitor Analysis to convince you!
How Do I Start?
Getting started can be a challenge. It’s important to be realistic about who your close competitors are, and focus your efforts rather than trying to assess a large list of other businesses that might operate in a slightly different sphere.
- Be honest about who your competition are, look at factors like who is competing with you in search and who sells the most similar product range to you. Try to compare like for like.
- Draw up a shortlist of competitors to monitor, and visit some of the tools below to see what you can find out about them!
- Plan a regular schedule to revisit competitor analysis, look for changes and new up and coming brands.
Apart from the above-mentioned strategies here is B2C Social Media Marketing Strategy for Your Business that may come handy.
Competitive Analysis Tools to consider :
As Ecommerce businesses we have the benefit of being able to gather lots of data on our online competitors if we know where to look! There are tools for monitoring social media activity, search marketing, website performance, brand mentions and more.
If used effectively, these digital tools can keep competitor analysis time to a minimum, helping busy business owners to have the data they need at their fingertips without any hassle. Not only do they provide valuable insight that can help form or hone a business strategy, they also make tracking vast amounts of data a breeze. What’s more, some of these are free to use, making them suitable for all sizes of business and budget.
Monitoring Brand Mentions
- Google Alerts (Free)
2. Social Mention (Free)
Social Media Competitor Analysis tools
- Bioischanged (Free)
2. Fanpage karma (Free trial available)
3. Social Searcher (Free)
Search Marketing Tools
- URL Profiler (from $15 per month)
2. SeMrush (Some data available free)
3. Majestic Site Explorer (Some data available free)
4. KWFinder (Some data available free)
5. SpyFu (Some data available free)
6. Moat (Some data available free)
Competitor Website Analysis Tools
- Siteliner (free with limited analyses)
2. Website Grader (Free)
3. Buzzsumo (Free, requires account)
4. Built with (Free)
5. WayBack Machine (Free)
Other Useful Tools
- You Gov Profile Lite (Free)
2. Hitwise (undisclosed)
The infographic below covers our top picks of the best places to find what you need. Why not try some out – you might just be surprised at what you find out about the competition!
Don’t forget to read: 10 Awesome SEO Tools to View Your Website through Google’s Eyes and know the secret to increase your organic traffic!
Here is a complete guide on how to research your competitors and competition analysis tools list that you should not miss:
Do you use any competitive analysis tools to keep an eye on your competition? Do share your favorite tool with us and let others also know about it!