19.09.2019

Competitors traffic analysis. How to make it fast and effective?

Smart people learn from the mistakes of others and their achievements. Companies that are looking for great success must learn from the experience of their competitors. Observing competitors helps not only identify their strengths and weaknesses but also understand what your company should strive for and in which direction to move. 

How about to have a look at one of the competitors' analysis in detail? Traffic analysis will help you understand which competitors should you analyze and how to adjust your promotion strategy.

Here are the steps we should take to conduct an express analysis, to identify bottlenecks in your project and determine a strategy for working with each promotion channel. 

Let's take as a basis the fact that you already have a product or service,

the main channel of communication with the target audience is the site, and you know your main competitors - direct and indirect, and you can list two or three market leaders in your field.

PREPARATION

If you like Excel as much as I do, you'll be happy. Using Google Docs or Excel makes a spreadsheet to analyze competitor traffic. First of all, add your website to it and two direct and indirect competitors as well as two market leaders. You can add more if you have time and need.

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INDICATORS

Use Similarweb (free versions is enough to express analytics).

Enter the name of your website in the search bar. In the Traffic Overview section, the service will show data for the first four rows of the table we saw before:

  • total visits;
  • average visit duration;
  • pages per visit;
  • bounce rate - a percentage of users who opened only the first page and left.
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Go further to the Traffic Sources section and see the traffic sources - where users come from:

Direct or direct visits - the number of clicks when the user entered the site address in the search bar or copied a link to it and went to the site.

Referral traffic - the number of clicks from other sites: through links on forums, in directories, in articles on other thematic sites. In this section, you can see the leading websites from which users came.

Search traffic - the number of clicks from the search. The service shows paid traffic from contextual advertising and organic traffic - when the user searched for something in the search engine and went to the site. Here you can see the keywords for which visitors came.

Traffic from social networks - the number of conversions from Facebook, Instagram, YouTube, and other social networks. 

Compare the metrics of your website with competitors and leaders in each category using the table. 

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WHY DO YOU NEED THAT?

Direct competitors' traffic let you:

  • compare the positions;

  • identify weaknesses in your user engagement strategy;

  • think how to entice users from competitors' sites to your own.

Analysis of indirect competitors allows you to:

  • identify effective promotion channels. If the channel for attracting traffic effectively works for them, you should use it as well.

  • detect the tricks of their strategy and understand whether it is possible to use them in your project.

Market leaders need to be analyzed to:

  • measure the market position;

  • understand the scope of the promotion;

  • detect problems that may occur in advance.

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    With love, 

    Eridamis


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