Internet marketing is not only about having products and/or services to sell online and promoting them in more ways than one to a targeted audience via your business website – it is also about you and your competitors and where you stand in relation to them. The internet may have leveled the playing field between businesses big and small peddling related products and services online and targeting the same audience, but having an online presence does not automatically bring traffic to your site much less guarantee your success with ecommerce.
Internet marketing is about enhancing the ‘findability’ of your site – about people finding your site more times than they do your competitors’ and liking you and your products so much as to keep coming back to your site bringing their friends and relatives along with them. It is about converting this traffic into sales too. But with more than 8.83 billion pages in the internet today competing for the attention of the online audience, this could be a tough task to achieve – even with a powerful internet marketing strategy. On the other hand, if you don’t as much as lift a finger in an effort to improve the ‘findability’ of your site in this monstrous web, you may realize too late that your competitors have totally eaten up your share of the internet traffic as well as your piece of the internet pie leaving you with nothing more than paltry crumbs of the ecommerce business.
This is why any effort to enhance the ‘findability’ of your site must start with and include an analysis of the competition in each marketing niche. There is a need for you to know how your competitors are using their sites to fan business growth. This way you’d be able to identify who among your competitors are aggressively targeting your most prized prospective with their web campaigns as well as what their campaigns are so you can tailor fit a marketing strategy to counter them. Doing an analysis of your completion may also reveal some untapped marketing niches which you can a foothold on totally unimpeded.
You and your competitors have one common end game in mind and that is to build traffic from which sales leads can be generated and converted into actual sales. Unfortunately, too many internet marketers focus their efforts on conventional SEO (Search Engine Optimization) and SEM (Search Engine Marketing) techniques. Without a doubt, such can drive traffic to the site but how much of this traffic is actually converted into sales is a different story. You may be surprised to find out that your competitors’ marketing initiatives fail to take their efforts to the last level – to conversion. Analyzing your competition to find out who were successful in driving great traffic to their site yet failed to make substantial conversions can give you a deeper insight about your targeted niche and thus allow you to develop complimentary marketing activities and initiatives, both online and offline to increase your own rate of conversion.
Your toughest competition can be anyone from a multinational corporation with unlimited resources to launch a well-funded campaign or a one-man show operating from the garage or the attic. They can be anyone out there who ranks better than you do for the keywords you wish to be found for. And it is important to know who they are and what they do to rank better than you. This will give you a better insight and put you on a higher plain where you can launch your own campaigns to dislodge them from where they are currently perched. This is how you draw the line between you and your competitors.