How To Do Competitor Analysis In Digital Marketing In 10 Steps

Ever wondered how some brands manage to dominate the digital world effortlessly? It is no magic; it is strategy. A solid competitor analysis forms the base of any digital marketing strategy. Whether you’re a growing business or a seasoned player, keeping an eye on your competitors can give you the insights you need to sharpen your tactics, improve your digital marketing, and bring your ideas to life. So, how do you go about this? Here’s a detailed yet easy-to-follow guide to help you with competitor research for digital marketing in 10 actionable steps.

Competitor analysis isn’t just about playing catch-up; it’s about staying ahead. It reveals market trends, sparks creative digital marketing ideas, and helps you adapt faster. Whether you're strategising for SEO, social media, or paid ads, insights from competitor research can reshape advanced digital marketing practices in your favour.

1. Identify Your Key Competitors
   
   Before you dive into numbers and metrics, think about who your competitors are. Start by identifying businesses in your niche. Think about your local competitors, direct competitors, and even industry leaders.
   
   Pro tip: Use tools like Google Search, social media platforms, and review sites to get a list of your competitors. A simple search can reveal a lot of information to get you started.
2. Check Their Online Presence
   
   Now that you know who they are, it’s time to take a look at their online activities. Explore their websites, blogs, and social media profiles. What does their design say about their brand? Are their pages user-friendly? This is where you’ll begin to notice gaps. For instance, if you’re a digital marketing agency in Mumbai, and their site isn’t mobile-optimised, that’s a weakness you can capitalize on.
3. Analyse Their SEO Game
   
   No digital marketing strategy is complete without SEO. Use tools like Ahrefs and SEMrush to analyse their keyword rankings, backlinks and organic traffic. Think about questions like, what are their top-performing keywords or how can you beat them with better creative digital marketing ideas and content?
4. Study Their Content Strategy
   
   If content is king, then a competitor’s blog is often a goldmine of information. Look for:
   • Topics they cover
   • Frequency of posts
   • Engagement levels (comments, shares, etc.)
   For instance, are they blogging about reshaping advanced digital marketing trends but missing out on case studies? You could step in with data-driven and informative content to fill the gap.
5. Examine Their Social Media Strategy
   
   Your competitors’ social media tells you how they engage with their audience. Check:
   • Which platforms do they use?
   • How often do they post?
   • Types of content (video, memes, infographics)
   • Their engagement rate
   Spot areas of growth, like if their Instagram is flooded with visuals while their LinkedIn feels lifeless, then you could outshine them there.
6. Understand Their Audience
   
   Take a look at who your competitors are talking to. Read their reviews, comments and testimonials to learn about their customers.
   
   For example, if their customers are often asking for specific services you already offer (but aren’t promoting), it's a sign you need to highlight those.
7. Benchmarking Their Ads
   
   Advertising is where budgets meet creativity. Analyse their paid ads on Google, Facebook, and Instagram. Tools like Ad Library by Meta or SEMrush’s Ad History can help.

Key Features To Consider

• What kind of ads are they running?
• Are their headlines click-worthy?
• Are they offering discounts or free trials?
8. Explore Their Pricing Strategy
   
   One of the most important aspects of competitor analysis in digital marketing is understanding your competitors' pricing strategies. This lets one position their products or services in the best possible way to be accepted in the market. Similarly, a review of consumer product lines requires attention in light of the allocated budget.
   
   This knowledge can help you tailor your product or service offerings to the preferences of your customers.
9. Review Their Customer Experience
   
   Don’t just look at what they’re offering; experience it yourself. Sign up for their newsletters, take a trial of their service, or even make a small purchase. This way, you’ll know:
   • How smooth their onboarding is
   • Their response time
   • Their tone of communication
   A great customer experience can make or break a brand. If they’re falling short, it could be a golden opportunity for your company.
10. Identify Their Weak Spots
    
    Finally, piece everything together. By now, you should have a clear understanding of their strengths and weaknesses. Are they focusing too much on one platform and ignoring others? Are they failing to personalise their approach?
    
    Pro Tip: Use their weaknesses as your strengths to create a well-rounded strategy that resonates with your audience.

If all of this feels overwhelming, don’t worry! At Verve Media, we specialise in turning insights into action. As a leading digital marketing agency in Mumbai, we combine data-driven strategies with creativity to help brands improve their digital marketing and stay ahead of the curve.

Let’s craft a digital marketing strategy that’s not just competitive but transformative. Get in touch today and let’s get started!