Every businessman in this world has to keep tabs of its competitors. Whether it’s a fashion industry, nutrition industry, or wellness industry, etc., every domain has its type of competition. It helps in knowing where the market is about to go so you can one step ahead of your competitors. And to make this possible, one of the most commonly used tools by digital marketers are Competitor Analysis tools.
Competition is about finding new ideas and opportunities to set new goals based on someone you desire to beat. And if you know how to handle the digital marketing strategies, you can make it happen sooner. As the COVID-19 has slowed down the world economy and businesses, it’s the right time to do some research on your competitors and their future strategies.
Today, in this article, we will discuss the competitor spying tools and why you must use them.
Competitor spying tools
One of the greatest struggles in business is to gain a competitive edge on your competitors. Some questions will always pop-up in your mind like:
- How can I outperform my competitors?
- What ways shall I use to gain that competitive edge?
- The first step is to have a quality product or service, but how will you find people to analyze your product/service?
- Which strategies shall I use and which don’t?
Competitive spying is about keeping an eye on your competitor’s digital marketing strategies, keywords, content, and so on. There are a lot of tools available, some of them are given below:
Why use competitor spying tools?
Following are some of the reasons that will let you understand why competitor spying tools are important for your business:
- You can easily identify your competitor’s backlinks and monitor fluctuation in their ranking.
- Spying tools allows you to estimate the traffic that your competitor gain on their selected keywords.
- It is easy to identify the top-performing content of your competitor for relevant topics.
- You get the detailed structure of your competitor’s data, which you can compare with your campaigns.
- Spying tools also help you to determine the referral traffic of your competitor’s website.
- You can keep track of the total number of clicks received by tour competitor and the amount they pay for each keyword.
***I’m going to use Sprout Social as an example to explain how a Competitor Spying tool works.***
Sprout Social allows you to analyze your competitor’s performance on various social media platforms through various angles. There are multiple reports that you can use to the content that your competitor is posting on Instagram, Facebook, Twitter, etc. and compare them with your profiles.
You can have a sneak peek about what your competitors are posting and compare your growth against their profiles. It mins the tedious work of managing spreadsheets and manual research. Its Advanced Listening tool allows you to find how the consumers are feeling about your competitor’s services or products, as well as examine your standing in the industry.
***I’m going to use Moz as an example to explain how a Competitor Spying tool works.***
When it comes to SEO, backlinking is one of the most discussed topics. In competitor spying, you need to understand what your competitors are doing in terms of backlinking. For that purpose, Moz offers different types of reports in the Link Explorer (allows you to compare link profile) section that you can use:
- Compare Link Profiles: You can put your domain and your competitor’s domain and can analyze how many links tour competitor has, both external and internal. It shows the Domain Authority and Page Authority of the links, which gives you an overview of everything organically.
- Link Intersect: When your competitors have a number of external links and domains pointing to their sites, then there are chances that they have better domain authority and page authority. In such cases, Link Intersect helps you to analyze what they are linking to and who’s linking to them. This way you can understand why their domain is better than yours. You can see where your links intersect with the competitor’s link, and where it doesn’t intersect, you can take appropriate measures to improve backlinks.
- Discovered and Lost Linking Domains: You get the data related to what domains were found and linked to your competitor’s site domain. It shows the data related to websites that are linked to your competitor’s website.
- Inbound Links: You get the details related to Domain Authority, Page Authority, Linking Domains, and Inbound Links. You can check what good sites are backlinked to your competitor’s site.
***I’m going to use SpyFu as an example to explain how a Competitor Spying tool works.***
If want to get a detailed snapshot of what your competitors are doing, then SpyFu is another tool that you can work with from a PPC SEO perspective. You get backlinking data as well just like Moz, along with insights of keywords used by your competitor for PPC, etc.. It also allows you to see how many organic keywords used by the competitor, SEO monthly clicks they are getting based on the volume of organic keywords, and many more.
If you log into Google Analytics and go to Audience->Benchmarking, you can analyze what your industry is doing as a whole. It doesn’t provide you data based on a particular competitor, rather you will see data related to the whole industry that you are dealing in. You can breakdown the information according to region and sessions. You can compare those web properties with your website.
So, this was all from my side regarding competitor spying tools. I hope you find what you were looking for. If you want to add some more data in this article, then you can leave a comment and I’ll add it here later-on.