Even if you’ve never done a formal competitive analysis, you probably have at least taken a look at the competition by strolling past their booth at a trade show or picking up their brochures. How important is competitive analysis to your b2b website and what tools are available to get a view of the competitive landscape online?
Where to start? The best way to start is just to take a look at your competitor’s website. What types of content do they have on the site? Do they have a blog, a board, videos, podcasts, case studies, etc.? How often does it look like they update the site? Take a look at the design and layout of the site. Is it is pleasing to the eye? Is it easy to find everything?
Don’t know who your competitors are? A simple google search for keywords in your industry (that you would use to describe your own business) can give you a good list of competitors. Also, take a look at google local for geographically close competitors. Even if you do know your major competitors, taking a look at a couple of searches every few months can keep new ones from sneaking up on you.
Now what? Obviously you should look at your competitor’s products and services to know what they are offering. As far as their website design and content, these will give you an idea of the type of customer support they are giving. Websites with more content (useful content), that is updated frequently, are typically more customer-centric. Customers are more likely to visit their website to solve problems and keep up with what’s new. The more times a customer visits a website, the more likely they are to become repeat customers. In order to become the destination for information within your industry, you will need to invest some time and effort into useful information for your customers and potential customers.
Next we’ll take a look at a couple of tools to use in your competitive analysis.
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