Importance of competitor analysis for website design projects

By: admin

There are two ways to do Website analysis; comparative and competitive analysis. Here, we examine the competitive approach. This entails making a deep survey and analyzing the strategies, the resources, and skills used by your competitors and in this case, the internet is your primary tool. When you are a novice or inexperienced in a certain niche, the analysis helps you to know what the competitors are doing better than them and thus see how they can apply some of the tactics.

Factors to consider when doing a competitors’ analysis

Find out who your competitors are

For effective analysis, you need to sample out at least five and not more than ten companies that are potential competitors. Any analyst would be interested in knowing the products they offer, their quality and the gaps that when closed, you would have a competitive advantage. To get the competitors, you can use Standard Industrial Classification (SIC) code, which helps you, trace and locate other businesses in the same industry, the class of services or products they offer, their goals, targets, and mission.

Four parameters you must leverage to beat the competition

Strong branding: If a company is in the same niche/ industry with you, and has a big name, is a potential competitor that you must endeavor to beat. You need to leverage their production and performance.

Revenues: The total money the business receives from their activities in a specified period would help you know the much they are getting. This tells you how strong the company is and what you could leverage on to beat the competition.

The competitor’s location: If you are located near a potential competitor, it is possible that it would take you long to break-even. Therefore you must seek to know the innovations that you can have in your products and services to beat the competition.

This is what you should consider when analyzing a company’s website;

The homepage

A competitive homepage is clear to the visitor, and the key calls to action displayed on this page are relevant. Your Web Design Company must ensure that this page is user-friendly and the content is leading to solutions within your site.

Navigation

While reading the site’s landing page, how easy is it to navigate to other relevant pages and sections within. If there are variations in the different parts, then you know how to capitalize on that.

Content

Is the content relevant and of a high quality? Is it appealing to the target user or it’s just another boring stuff full of jargon and fluff. Thus, you will need to ensure the content of your site is impeccable and as attractive to the user as possible.

Website analysis enables you to form your company’s digital marketing strategy and a roadmap on reaching your customers. A structured analysis of the competition will help you understand the industry in general and what to leverage on.

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