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How to do a competitive analysis

How to do a competitive analysis

Have you asked yourself, why am I being outranked on local searches? How to do a competitive analysis is the answer.

To understand this, you will need to complete a local competitor analysis, comparing your business with the business that is ranking above you of local searches. You will then need to know which factors that are allowing your business to be lower than your competitors for concise search term. By the end of this example you will know how to do a competitive analysis.

To get started I will be taking you through a live competitive analysis example looking at local searches. I will be presenting these findings using a competitive analysis chart. Also, I have attached a competitor analysis template, adapted from that provided my MOZ. This can be used when completing further competitor analysis. The aim is to find out why your competitors are out ranking you. I will be creating a check-list of tasks that you will need to complete to out rank the others. Not only will we be finding your competitors strengths but also how we can use their weakness to attempt to beat their ranking.

Competitor analysis example

When you follow my competitor analysis example and apply it to your own competitor analysis you should answer identify a solution.

The example:

Search term: Florists in Hereford

Average monthly searches: 100-1000

The results:

Google My Business (GMB) Google Organic Search results
#1 Hillman’s florist #1 Hillman’s Florist
#2 The Hibiscus Room #2 Interflora
#3 Sarah Jane’s Joy of Flowers #3 The Herefordshire flower studio

competitive analysis examplecompetitor analysis

Clearly the winner here is Hillman’s Florist. Ranked #1 for GMB and Organic results. If local search term like “florists in Hereford” bring in a potential 1000 visitors a month (depending on time of the year), the challenge would be for the lower ranked florists to reach top 3, of GMB and/or organic results.

Time to answer the question:

How to do a competitive analysis.

The competitive analysis chart below will highlight a few key factors that are paramount in any competitor analysis:

  1. Your company’s competitors.
  2. Competitor product summaries.
  3. Competitor strengths and weaknesses.
  4. The strategies used by each competitor to achieve their objectives.
  5. The market outlook.

What I want to know is:

Blooming temptations is #5 on GMB and #4 Google organic search results? How has Hillman’s out ranked them on both organic and GMB? Surely Blooming temptations wants a slice of the potential 1000 visitors.

So, what did we find?

Competitive analysis chart

Download competitive analyis chart here:

Competitive analysis example

The key findings

Keyword Research

Hillman’s Florist outranks Blooming Temptations on both organic and Google My Businesss, after analysing out findings I belive the main factors (highlighted in GREEN) are; Blooming Tempations on-page optimisation for the keywords “florists in Hereford”. It does not exsist where Hillan’s Florist has included the keywords “Florist Hereford” throughout the website and the word “florist” included on tite tags and GMB heading. This allows searchers to clearly identify the business and website as a florist. Google likes it when the searcher finds what they want.

Links from Doman Authority and Page Authority websites.

What I belive is the 2nd most important factors inregards to organic results. Hillman’s Florist has huge link backs from an established website, with a DA of 92 and PA of 28, compared to Blooming Tempations 33/11.

Website design and UI

Remember, if a searcher/user is happy with what they see on your website, then Google Search Engine will be happy. A clean, easy to navigate site makes an enjoyabler experince for the user. Easy to locate cateofires and good search/filter features. Interaction is imporant if you want potential customers to stay on site.

Recommendations

Blooming Tempation, research your keywords, what are being searched for, then optimise your website with these keywords in mind. Title tags, headings, page content, alt tags. All need to be optimised.

Redesign, if you are serious about ranking in Google Search Results, get your website looking good for your potential customers, make it easy to navigate and ensure you use suitable colours that best reflect your business and products.

Finally, a basic competitor anaysis, looking at 2 local businesses. If you intend on carrying out a similar analysis within your market I would suggest, use more then 1 competitor, think 3 or 4. More information you gather the better you can identify strenghths and weaknesses.

 

Want us to complete a comeptitive analysis for your local business?

FIll out the form below and we will see what we can do for you.

 

 

 

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