Online Competition analysis (aka web business intelligence) is extremely important for businesses that want to grow online. This is especially important for startup businesses. How your website stacks up against competitor websites can greatly help you in plotting out a route of least resistance in finding your niche and establishing your site as the go-to-place for your line of products and/or services.
Just recently I was asked to do a competition analysis for a new business directory website that is still in beta stage. Their main competitors are the well established business directories and classfields websites, so they already have solid competition cut out for them. As a new startup, my client does not have unlimited marketing budget like his competitors, so it was paramount to probe the competition, find their strong spots, and learn how to beat them in not-so-strong areas.
Since this was a new website, doing on-site analysis and traffic analysis was not the primary focus since there isn’t much to be seen in these areas. Instead, the focus was sifting through the competitors traffic and link portfolio in order to find out as much as we can about their business and how they’ve come to rule their niche.
The result of this extensive research was a 15 page document with actionable conclusions that the business owner will use in strategic marketing planning and positioning of his company so that he can rule the niche of choice.
Note: all business names and business-sensitive info are edited so that the client will retain the competitive value of this research. I only offer it to you so you can see what it would mean to order such a research. This particular research costs $800. For more info, contact me.