Last updated on September 26th, 2018 at 04:36 pm
A competitor analysis is one of the most important – and often one of the most forgotten – elements of an effective online marketing strategy. So what is a competitor analysis and how do you perform one for your practice? It’s easy.
The ultimate goal of a competitor analysis is to identify the strengths and weaknesses in your marketing efforts. In scrutinizing the tactics used by your competitors, you can determine what works and what doesn’t within your target market.
The following processes will help you perform a complete competitor analysis:
1.Start by investigating who your top competitors are. You can input “related:www.yourURL.com” within the Google search bar to see competing services within the vicinity of your practice.
2.Create a simple comparison chart to measure your techniques vs. your competitors.
3.Analyze the results by comparing your practice to top ranking competitors.
Want even more visibility into what your competitors are doing? Check out 13 Competitor Analysis Tools And Resources You Need To Stay Ahead >
After you determine where your strengths and weaknesses lie, you can adjust your marketing strategy accordingly. If you notice that your website needs more content, you can hire a content writer or add content to your website in your spare time. If you notice your social media profiles are way ahead of the competition, you can encourage your staff to continue their outstanding efforts.
What are you waiting for? Start using your competition to increase new website traffic and new patient referrals.