Digital marketing Gold Coast

By Damien Alcock

As a business owner, you’re always looking for that edge, that unique strategy that sets you apart in the digital jungle. That’s where competitive analysis in digital marketing comes into play. It’s not just a fancy buzzword; it’s a game-changer. And guess what? You’re about to discover just how transformative it can be.

In this guide, we’re diving deep into the world of competitive analysis. You don’t need to be a digital marketing guru to follow along. Whether you’re running a cosy cafe in Brisbane, a trendy boutique on the Gold Coast, or a bustling consultancy in the Sunshine Coast, this is for you. 

So, what’s competitive analysis all about? In simple terms, it’s understanding what your competitors are up to in the digital space, and then using that knowledge to sharpen your own online strategies. From dissecting their website design to unravelling their social media tactics, we’re covering it all. You’ll learn not just to see what they’re doing but to understand why and how you can do it better.

The What and Why of Competitive Analysis

You might be wondering, “What exactly is competitive analysis in online marketing, and why should I care?” Well, let’s break it down in a way that makes sense for you and your business.

What is Competitive Analysis?

Competitive analysis in digital marketing is like being a detective in your own industry. It’s about:

  • Looking Closely at Your Competitors: This means identifying who they are and what they’re doing online. Are they using clever SEO strategies? Do their social media accounts buzz with activity? How does their website draw in customers? It’s all about observation and understanding.
  • Gathering Insights: You’re not just looking at what your competitors do; you’re diving into how and why they do it. This involves analyzing their tactics, strategies, and results.

Why Does It Matter?

Now, you might think, “I know my business best, why should I spend time looking at others?” Here’s why:

  • Spotting Market Trends: By observing your competitors, you can see the broader trends in your market. What’s working for them might work for you, too.
  • Understanding Customer Preferences: Your competitors’ successes and failures are a goldmine of information. They show you what customers in your industry like and don’t like.
  • Benchmarking Your Business: Knowing where you stand in comparison to your competitors is crucial. Are you a leader, or is there room to grow? This is how you find out.

Think of competitive analysis as a compass in your digital marketing journey. It points you in the right direction, showing you paths you might not have considered and helping you avoid the pitfalls that caught others off guard.

Identifying Your Real Competitors

It’s crucial to understand that your competitors aren’t just the businesses offering similar products or services. In the digital world, your competitors are also those vying for your potential customers’ attention. So, how do you pinpoint these rivals? 

Direct Competitors

These are the ones you probably already have in mind. They offer the same services or products as you do. Think of them as your digital neighbours.

  • Look at Your Customer Base: Who else are they considering or buying from? This can give you a great starting point.
  • Search Your Keywords: Use Google or any other search engine to search for your main products or services. The businesses that pop up are your direct competitors.

Indirect Competitors

This is where it gets interesting. These competitors might not offer the same product, but they solve the same problem or fulfil the same need as you do.

  • Broaden Your Horizon: Think about the broader need your business fulfils and search for businesses catering to that need.
  • Ask Your Customers: Sometimes, your customers can give you insights into alternatives they consider, which may not be direct substitutes for your offering but still compete for their attention and money.

Tools and Resources

Leveraging the right tools can make this process much smoother and more efficient. Here are a few to get you started:

  1. Google Search: The simplest tool at your disposal. Search for your primary products or services and see who shows up.
  2. SEMRush or Ahrefs: These tools are fantastic for deeper SEO analysis. They can show you who ranks for your keywords and even uncover competitors you hadn’t considered.
  3. Social Media Listening Tools: Platforms like Hootsuite or BuzzSumo can help you understand who’s generating buzz in your industry.
  4. Google Alerts: Set up alerts for your industry keywords to keep tabs on who’s making waves in your field.

Analysing Competitor Websites and SEO

Dissecting Competitor Websites

As a business owner, your website is your digital storefront. But how does it stack up against your competitors? 

Layout and Design:

  • First Impressions: Visit their websites as if you’re a customer. What’s your first impression? Is it easy to navigate? Note these initial feelings.
  • Navigation and Accessibility: Check how easy it is to find information. A complicated menu can be a turn-off. Yours should be simpler, and more intuitive.

User Experience (UX):

  • Loading Speed: Use tools like Google PageSpeed Insights to check their site speed. A slow website can frustrate users and hurt business.
  • Mobile Responsiveness: With more people browsing on phones, how well do their sites work on mobile devices? Yours needs to be mobile-friendly too.

Content Strategy:

  • Quality of Content: Look at the quality and relevance of their content. Is it engaging and informative? Make sure yours is even more so.
  • Content Variety: Do they use a mix of blogs, videos, and infographics? A diverse content strategy can attract a wider audience.

Evaluating Competitors’ SEO Tactics

SEO – it’s like the secret sauce of digital marketing. Here’s how to analyse your competitors’ SEO strategies:

Keyword Usage:

  • Identify Their Keywords: Use tools like SEMrush or Ahrefs to see what keywords they rank for. Are these keywords also relevant to your business?
  • Keyword Placement: Notice where they use these keywords – in titles, headers, or blogs? This can guide your own keyword strategy.

Backlink Profile:

  • Quantity and Quality of Backlinks: Check the number and quality of backlinks leading to their site. Tools like Moz Link Explorer can be handy here.
  • Backlink Sources: Where are these backlinks coming from? High-quality, relevant sources can boost SEO significantly. Aim for similar quality in your backlink strategy.

SEO Performance:

  • Rankings: Where do they stand in search results for your industry’s key terms? This gives you a benchmark for your own SEO goals.
  • Local SEO: If your business is local, how well do they perform in local search results? Local SEO can be a game-changer for businesses like yours.

Social Media Strategy Analysis

You’re likely already aware that social media is a vital part of digital marketing. But how do you ensure your social media strategy truly stands out? It starts with understanding what your competitors are doing right – and where they’re missing the mark. 

How can you analyse their social media strategies to refine and enhance your own?

Assessing Your Competitors’ Social Media Presence

  • Platform Usage: Start by identifying which social media platforms your competitors are active on. Are they leveraging Instagram’s visual appeal or tapping into LinkedIn’s professional network? Understanding their platform choice can give insights into where your target audience spends their time.
  • Frequency of Posts: Observe how often your competitors post. Are they engaging with their audience daily, or do they post sporadically? This will help you gauge the level of engagement they’re maintaining.
  • Content Quality: Look at the type of content they share. Is it mostly promotional, educational, or a mix? High-quality, diverse content tends to engage audiences more effectively.

Analysing Engagement Strategies

  • Audience Interaction: Notice how they interact with their audience. Do they respond to comments, and how quickly? Engagement is key to building a loyal online community.
  • Promotions and Campaigns: Pay attention to any special campaigns or promotions they run. What kind of response do they get? This can offer ideas for your campaigns.

Evaluating Content Effectiveness

  • Post Performance: Check which posts get the most likes, shares, and comments. This can indicate what type of content resonates with your shared audience.
  • Visual Consistency: Are their posts visually aligned with their brand? Consistent branding helps in building brand recognition.

Learning from Observations: Dos and Don’ts

  • Do Embrace Authenticity: If your competitors’ authentic content gets more engagement, it’s a cue for you to craft genuine, relatable posts.
  • Don’t Copy Blindly: While it’s good to take inspiration, avoid copying their style or content. Your uniqueness is your strength.
  • Do Focus on Engagement: If they are successfully engaging with their audience, find ways to incorporate similar strategies, like interactive posts or timely responses to comments.
  • Don’t Ignore Trends: If they are leveraging current trends effectively, consider how you can do the same in a way that aligns with your brand.

Need help building quality backlinks to your site?

If you do wish to build links for your business site, get in touch with a trusted Gold Coast SEO company such as SEO Web Logistics, who provides eCommerce SEO services, Google Ads services, and much more.