Of course, the first step in analyzing your competitors is to figure out who they are. If you’re just starting to build your ecommerce store, you probably don’t have a ton of competitors yet. The best way to do this is to make a list of a ton of competitors that meet the following criteria:
Use the same channels or marketplaces as you do to sell (e.g. e-commerce site, Amazon, social media)
Competitors are ranking or bidding on the organic or paid keywords you plan to target
Competitors with social media audiences made up of the type of customers you want to target
Competitors with overall advertising/marketing budgets similar to your own
Once you have a large list of potential competitors, narrow your focus down to just 3-4 competitors to actively target. These should be the competitors that most closely match the criteria above. We will start by noting down specific things that we vk database can use for our own benefit:
Identify competitor weaknesses
Problems with competitor sites, such as broken pages, difficult checkout processes, poorly written pop-ups
Negative reviews about products, shipping, returns, customer service, etc.
Complaints on social media or other off-site platforms
Unanswered questions or comments in social media, editorial content, or product reviews
Low-quality or useless content or graphics
Anything you see and think “I could do better than that!”
Where to Look for Competitor Weaknesses
On their website
In their content and images
On their social media pages
Anywhere you post comments about your competitors
Forums, question platforms (such as Quora), how-to websites
YouTube Comments
Third-Party Reviews and Publications
Competitive research tools like Ahrefs, Alexa, Brandwatch Audiences, Prisync
Google search results page
Part 2: Heist!
By now, you're probably drowning in information about your competitors -- so what do you do with it? The whole point of conducting a competitive analysis is to uncover information that you can use to steal your competitors' customers. Here are some of our favorite dirty tricks to help you nail it all.
Found a problem with their website
Use a tool like Screaming Frog to crawl each competitor’s website and look for pages that return a 404 (Not Found) or return any server code that begins with 5 (Server Error). If you discover that a competitor’s product page is broken, you can turn this to your advantage in a number of ways.
Target their organic keywords. If their pages can’t be indexed by search engines, try to steal their natural rankings by optimizing for the same keywords. You can sometimes even get great rankings for branded terms (keywords that include a competitor’s brand name) if their only content on that topic is broken.
Perform manual outreach to steal their backlinks. Run the broken page through a backlink tool (such as Ahrefs) and find out who is linking to the broken page. Email the webmasters of the domains linking to the broken page and let them know that their link is broken but that you have a link available as a replacement.