When you launch any kind of business you must always be on the same page with your competitors.What does it mean?
It means that if you know what your main competitors do to boost their business, you will have all chances to be ahead of the curve.
However, lots of startups don’t know where to start when it comes to analyzing their competitors. Likely, there are five proven steps that will help you out.
In this guide, I will reveal to you how to do competitor research for the coworking niche specifically.Let’s start!
If you are looking for the most straightforward way to find out who your main competitors are, you should ask Google. You didn’t get me wrong, go to Google and type a query related to your niche. In our case it would be something “coworking” type:
As you can see, a single keyword “coworking space in bangalore” provided me with a list of resources that mention my potential competitors. The only thing that I need is to find out the brand names of these competitors. But I don’t need to review each link. A featured snippet has already revealed 5 best coworking management software solutions. The only thing that I need is to find out the brand names of these competitors.
When I know who my competitors are, I can go ahead with analyzing their website’s SEO metrics.
To get detailed information on how your competitors move their business online, you will have to review some core SEO metrics for their websites. Here I recommend you to use Domain Comparison tool from Ahrefs.
This report allows you to compare up to five domains in a row. It provides you with a range of stats that cover a backlink aspect of the domains in question:
At first glance, this report looks too complicated. Likely, I marked the stats you should pay attention to. Let’s review them:
By analyzing these three positions you will get a clear vision of what resources you should reach out in your outreach campaigns to build the backlinks.
Now, you should move ahead and analyze other important SEO stats like content, link growth, and traffic.
You know that content plays a significant role in promoting a website on the web. Especially, if your content is high-quality.
Hence, you should know what type of content helps your competitors attract more visitors to their blogs. For this purpose, you can use a platform like Hexowatch to track competitor activities.
There are a few things you must look at:
The first report that sheds the light on content that brings the most traffic is called “Top pages”. It illustrates all the pages from the website based on their monthly organic search traffic. Plus, you will have an opportunity to review the keywords a particular page ranks for.
These stats you can review via “Top content” report. It shows the most shareable content on social media channels like Twitter, Facebook, and Pinterest:
Here you will need to review a report called “best by links’ growth”, which provides you with the information around all backlinks that were built for the past 30, 7, and 1 days:
Building backlinks is a very important aspect of your entire SEO strategy. The more backlinks you have, the stronger your website’s backlink profile. Backlinks are an evident factor that tells Google how other external sources trust yours by linking back to it. Thus, you must keep an eye on your competitors’ backlink profiles as well.
But when you analyze a link growth of your competitors, you should take into account the number of referring domains their websites have.
To find out what new referring domains have been gained by your competitors, you should use “New referring domains” report:
From the report above you can see that nexudus.com acquired 352 new referring domains for the past 60 days.
What’s more important, you can always check out a referring domain’s graph. It shows the stats for all time, the past year, or the last 30 days:
I am sure you know how crucial the traffic is for your website. Traffic measures the number of visitors to your site. These visitors equal the number of customer opportunities for your business.
Therefore, you must stay abreast of all updates that happen with your competitors’ traffic. To get a full picture, I recommend you to use a SimilarWeb tool. It will reveal the following data:
The main countries that deliver traffic.
The main online sources that bring traffic.
Top websites that send most of the referral traffic.
Analyze this information wisely and develop a strategy on how to use it to your benefit.
Competitor analysis is a process that must be always under control. Your competitors don’t stay still. They move their business forward. Consequently, your goal is to keep track of it. This detailed guide will help you for a hundred percent in researching your competitors. Don’t hesitate to refer to this help article, boost the authority of your brand and dominate the coworking niche.