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7 Best Competition Analysis Tools to Stay Ahead


 Competition analysis allows you to identify the weakness and strengths of your competitors. Identifying your competitor will enable you to refine your marketing strategy. To stay ahead of your competition, you need to have extensive knowledge of your competitor.

Identifying your competitors will help you to understand the advantage your competitor has over you. You will get an idea of what your audience wants from you and how to expand your reach. The competitive analysis also helps you to alter your marketing strategies as per your target audience.

The competitive analysis starts with determining who your competitors are. To evaluate your competition, you should analyze the range of products and services and what kind of audience they are focusing on?


If you are operating in a highly competitive market, the analysis of your every competition is a tedious task. Instead of evaluating your every competitor, go for the 80/20 rule.

Competition analysis also allows you to know your new competitors in the market, which have the potential of covering a big part of your target audience. One of the most excellent examples of ignored competition is Airbnb, most of the hotels did not realize the potential of Airbnb, and later it became a leading brand in the hotel industry.

Competition analysis also helps you in recognizing the latest technology trends in your industry. You can adopt new technological features by studying the latest trends and you can stay ahead in your game.

You can find multiple competitive analysis tools in the market, but we are listing down some of the most efficient and must have competitive tools:

Pi Datametrics

Pi Datametrics analyze industry trends and your competitor and discover new opportunities to make your content more visible in searches.

Some of the notable features of Pi Datametrics are:

  • It helps in driving more organic performance by monitoring markets and increasing the performance of your brand digitally.
  • It gives you a detailed analysis of your industry, along with new market opportunities and new competitors.
  • You can also monitor the impact of your brand on your customers. It can also showcase the search volume of the last 36 months, whether it’s an individual product line or whole as a brand.

Kompyte

Kompyte helps you to find out the relevant data for you out of billions of competitive data available in the market.

Some of the notable features of Kompyte are:

  • Kompyote scans the web and search engines 24 times in a day and discovers around 100 competitions every week.
  • Using its artificial intelligence, it detects around 1 million web changes per day and shows you the relevant data.
  • Kompyote analyzes one million social media posts per day.
  • You can track every change your competitor makes to their products, website, and online campaigns.

SimilarWeb

SimilarWeb helps you to make better decisions in marketing, research, sales, and investment, thanks to their market intelligence solutions.

Some of the notable features of SimilarWeb are:

  • It reveals the best marketing strategies from your competitors, like best SEO strategies and content strategies.
  • It helps you to grow paid partnerships.
  • It helps you in analyzing the latest trends and audience behavior.
  • It also helps you in monitoring your website traffic and finding the right leads for you.
  • You can improve your sales pitch by diving into your analytics.
  • It also helps you in evaluating market trends and investment opportunities.

Buzzsumo

Buzzsumo allows you to search content through keywords and by your competitor’s URL. You can also find trending sections of different industries.

Some of the notable features of Buzzsumo are:

  • You can explore high performing content to get more engagement on your social media profiles.
  • You can generate new content ideas through their insights.
  • You can identify influencers and create high-quality content with the help of their content insights.
  • You can monitor comments and the latest trends for new opportunities.
  • You can track and identify influencers for your marketing campaigns.

Brandwatch Audience

Brandwatch audience allows you to get insights about the audience which follows your competitors on social media. You can also analyze their location and what kind of content they share.

Features of Brandwatch audience:

  • You can target the right kind of people and accelerate your ROI.
  • Brandwatch audience allows you to monitor what your target audience wants and helps you in delivering high-quality content for them.
  • It allows you to collaborate with the right kind of influencers and create a high impact on your target audience.

SEMRush

SEMRush helps you with SEO, advertising, social media, competitive research, content, and reporting. SEMRush provides metrics on paid search, rankings, and specific keywords.

Features of SEMRush:

  • SEMRush helps you analyze your competitor’s marketing strategy.
  • You can analyze the traffic of any website.
  • SEMRush helps you in finding and monitoring marketing trends.
  • You can analyze up to 20 domains as per your need.
  • With SEMRush, you can identify your top competitors in your domain.

WhatRunsWhere

Paid ads are one of the most effective marketing strategies which are adopted by digital marketers all over the world. With WhatRunsWhere, you can analyze your competitor’s ads and their campaign data.

Features of whatrunswhere:

  • You can access the complete ecosystem of digital advertising and discover strategies that are working in your niche.
  • You can discover new sources of traffic and reach a wider audience.
  • It helps you in understanding market trends across all devices.
  • You can monitor the latest marketing strategies of your competition.
  • It shows you the best performing creative in your niche.

Conclusion

Monitoring your competition helps you in making efficient marketing strategies that work in your niche. Competition analysis can be done in many ways. You can analyze keywords, social media accounts, backlinks, and the audience of your competitor. Whatever your need is, the tools mentioned above can help you in meeting your marketing goals.

Mathew Anderson is a creative person who has been writing blogs and articles about cybersecurity. He writes about the latest updates regarding mcafee.com/activate and how it can improve the work experience of users. His articles have been published in many popular e-magazines, blogs and websites.

Source:- 7 Best Competition Analysis Tools to Stay Ahead

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