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Digital Marketing Competitor Analysis
If you want to outperform your competition, you need to know what strategies they use, the campaigns they run, and how they attract leads to their business. A digital marketing competitor analysis is fundamental to your marketing success. Keep reading to learn more about digital marketing competitor analysis and see how our competitor analysis services can help your business grow.
What do our digital marketing competitor analysis services include?
WebFX is a top digital marketing competitor analysis company that can help you analyze your competition and find opportunities to help your business grow. Let’s look at what you can expect from our competitor analysis services.
- We identify your competition
- We perform a SWOT analysis
- We provide tools to help you analyze your competition
- And more!
We identify your competition
We identify your competition
When you invest in competitor analysis for digital marketing, we’ll help you identify your competition. We’ll take an in-depth look at your industry to help you identify your biggest competitors. Our team will help you compile a list of companies that are the biggest threats to your business.
We perform a SWOT analysis
We perform a SWOT analysis
When you rely on WebFX for your digital marketing competitor analysis, we’ll conduct a SWOT analysis for you. SWOT stands for:
With our SWOT analysis, we help you look at what your competition does well and what they don’t do as well. We can help you take this information and compare it to your business’s strengths and weaknesses.
Additionally, we help you identify opportunities where your business can outrank your competitors. We’ll also identify any threats that could occur in your market.
We provide tools to help you analyze your competition
We provide tools to help you analyze your competition
At WebFX, our digital marketing competitor analysis services include access to our proprietary marketing software, MarketingCloudFX.
With MarketingCloudFX, you get access to CompetitorSpyFX. CompetitorSpyFX enables you to look at your competition and understand what you need to do to outrank and outperform against them. From comparing keywords to content, we’ll help you understand what your competition is doing, so you can create a more impactful strategy.
And more!
And more!
Learn more about what our digital marketing competitor analysis services include by watching the video below!
Your search for digital marketing competitor analysis services ends here
When your company partners with WebFX, you:
Access a team of experts
At WebFX, we have a team of over 500+ experts that will help you conduct your competitor analysis. We stay up to date on the latest trends in marketing to help your marketing strategy stay current, too.
Drive results that power growth
At WebFX, we know how to drive valuable results that help our clients grow their business. In just the past few years alone, we’ve helped businesses drive over $10 billion in revenue and you can feel confident that we’ll drive results for your business, too.
Work with a team you can trust
When you partner with a digital marketing company, you want to ensure you’re working with a company that will produce work you love. At WebFX, we have a client satisfaction score of 93% — that’s 488% higher than the national average.
Find solutions to all your marketing needs
We’re a full-service digital marketing agency with dedicated specialists for every channel, including SEO services, Google Ads, social media marketing and advertising, web design, and more to support you in all your digital marketing needs.
Pricing custom to you.
Starting at $3,000 per month.
Solving key challenges for businesses
When Merrimack Valley Psychological Associates wanted to help more clients, they turned to WebFX. Learn how our partnership expanded their reach and results.
“My practice has grown quickly and improved our accessibility to those we serve or hope to serve within our community. WebFX is directly responsible for our growth and the fact that we have more than doubled our revenue in six months.”
Net Friends turned to WebFX to help them boost their presence in search engines to attract qualified traffic and leads for their business.
“Web traffic is up well over 100% and our marketing qualified leads are more than double what they were before our WebFX engagement.”
Hurst Pediatric Dentistry wanted more clients to find their kid-friendly dental office. Here’s how our partnership helped them serve up more smiles!
“Rather than pushing us to make changes on our website that would make it more similar to so many other websites, WebFX offers suggestions for simple tweaks we can make to get the results we want, while still allowing our personalities to shine through.”
Unlock a 20% increase in ROI with WebFX’s award-winning competitor analysis team
- Dedicated account manager, interfacing with a team of 500+ digital marketing experts
- MarketingCloudFX access for optimizing, measuring, and reporting ROI
- In-depth analysis of your business goals, industry, and competitors
- In-house project management software, 24/7 help desk, and direct client phone line
In-House Marketing
- One or two team members trying to keep up with fast-paced marketing advancements
- Analytics suite for measuring and improving campaign performance
- S.M.A.R.T. goals, but limited resources needed to execute
- Reporting roadblocks leading to project delays and wasted spend
Typical Marketing Agency
- Dedicated account manager responsible for strategy, but will need your help implementing solutions
- Third-party tracking and analysis with subscription costs passed to you
- Cookie-cutter checklists and solutions for optimizing your campaigns
- Regular, but unreliable support when issues arise with your account
Why is digital marketing competitor analysis important for your business?
Competitor analysis is a critical component of your business’s success. Here’s why you need digital marketing competitor analysis:
- 1. It helps you get to know your competition
- 2. It helps you better understand your market
- 3. You learn your competition’s strengths and weaknesses
1. It helps you get to know your competition
1. It helps you get to know your competition
Conducting a competitor analysis for digital marketing is critical because it enables you to identify your competition. If you have a brick and mortar location, you may already know some of your local competitors, but they aren’t your only competitors online.
With a competitor analysis, you help your business identify companies that you’re competing against for customers. It gives you a starting point for identifying strategies that are working for your competition, so you can figure out how to create more effective strategies for your own business.
2. It helps you better understand your market
2. It helps you better understand your market
When you conduct a digital marketing competitor analysis, you can better understand your market. Not only can you identify direct competitors, but you can also identify indirect competitors that might be taking sales from your business.
So, for example, let’s say you own a coffee shop and sell freshly ground coffee in addition to serving fresh coffee drinks. You know that businesses like Starbucks and Dunkin’ are direct competitors to your business. But what about your indirect competitors?
Since you’re selling bags of coffee, grocery stores are an indirect competitor to your shop. While they sell an abundance of other goods, they still offer dozens of different ground coffee options, making them competition to your coffee shop. Even a local gas station could be considered competition for your business!
When you conduct a competitor analysis, you gain a better understanding of who’s in your market, so you can create more effective strategies to compete against them.
3. You learn your competition’s strengths and weaknesses
3. You learn your competition’s strengths and weaknesses
Just knowing your competition isn’t enough to help you drive better results. You need to know more about your competition, so you can create a strategy that helps you outperform them.
When you conduct a competitor analysis, you can better understand the strengths and weaknesses of your competition. You’ll want to look at important components like pricing, product quality, and customer satisfaction.
When you know what your competition does well and where they fall short, you can use that knowledge to help mold your strategy. So, for example, if your competition falls short in the customer service department, you can make sure that you ramp up your customer service to give you a leg up on your competition.
FAQs about digital marketing competitor analysis services
What are the best tools for competitor analysis?
These are the top five tools that we recommend for performing a competitor analysis.
- Ahrefs
- SpyFu
- BuzzSumo
- SEMRush
- Searchmetrics
What are the different types of competitors?
There are three types of competitors:
Direct competitors
Direct competitors are typically the most dangerous, since they’re essentially a carbon copy of your business in many ways.
Your direct competitors offer the same products and services as your company, and they also have the same target customer. You can even take it a step further and say that your direct competitors also have the same goals and work on a similar business model.
Indirect competitors
Your indirect competitors offer the same products and services as your company, but they likely have a different business model, or different business goals.
A good example of an indirect competitor would be a mom-and-pop candle shop competing with Yankee Candle.
This competition can still be dangerous, but if you focus on your target audience and your personal business goals, indirect competitors won’t stand in your way.
Replacement competitors
Replacement competitors offer products or services that could potentially replace the products and services you offer. So, if your products or services fail, and your customers want to try something different to accomplish their goal, they could rely on your replacement competitors.
A good example of this would be a book store versus a video game store. The book store is at risk of losing customers to a company that offers the latest and greatest video games.
What is a competitor analysis?
A competitor analysis is a strategy that involves researching and analyzing your major competitors to gain insights into their marketing strategies and campaigns.
What are competitor analysis services?
Competitor analysis services are professional services provided by an agency that will conduct in-depth research into your competitors and strategize ways for your business to get ahead.
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