Your next business move is like making your next move in chess. It’s not always straightforward. It depends on what your competitor is doing, and sometimes it means thinking a couple of steps ahead.
That’s why eCommerce competitive analysis can be a powerful business tool. But the key to taking advantage of that is using the best techniques and tools.
Read on to learn about some of the best techniques to try before you make that next business move.
Product and Brand Positioning
One helpful way to analyse your competitors is to understand what they sell and their pricing strategy. That analysis will also tell you how they position their eCommerce business within your industry.
Here are two eCommerce competitor analysis tools that will help you gather this information.
SimilarWeb provides insight into your competitors’ audience, like their demographics. It will also tell you the businesses most likely to be your competitors.
Google has lots of helpful competitive analysis tools. One that’s easy to set up is the Google Alerts system. You can use this to track news, promotions and product launches from your competitors’ websites.
One goal you probably have as a business is to rank on page one on Google for your target keywords. If you’re ambitious, you might even want that coveted top spot!
You’ll need to rank higher than other businesses to do that, so SEO is another valuable competitor analysis technique. SEO will help reveal the content marketing strategy that works for other companies in your industry.
When analysing SEO, it’s also worth noting the competitors paying for Google Ads. Here are some helpful tools.
SEMRush is one of many SEO tools that will help you track your competitors’ SEO efforts. For example, you’ll be able to get information on what backlinks they have that boost their domain authority.
BuzzSumo will tell you what content works best in your niche. It will rank the most popular and widely-shared content on various topics. It helps you see what works for your competitors and guide your content strategy.
Customer Service Analysis
When analysing customer service, you must look beyond your competitor’s helpdesk. Customer service in the online world is a broad strategy. It encompasses aspects like website usability plus marketing techniques like customer retention.
This tool is helpful for any usability work you want to do with your website or app. It will tell you how your website compares to your eCommerce competition on metrics such as navigation ease.
Online reviews are the best way to determine whether your competitor has happy customers. ReviewTracker will show online reviews from many sources, giving you a more complete picture.
eCommerce Competitive Analysis
Using eCommerce competitive analysis, you can unveil secrets and strategies to help your small business thrive. The key is to focus on the techniques and tools that will have the most impact, like the ones outlined in this guide.