Are you new to the online business world?

If yes, here is how your Competitor Analysis can pave your way to great opportunities.

Competition is everywhere. Few look at it as competition, few find an escape, few try to avoid them, but few take them as role models. It is this few who succeeds and set benchmarks.

Competition analysis is an important processfor strategic planning. However, often digital marketers tend to overlook this important aspect.

Some marketers think why to hunt for competition analysis. They believe it is best to get on with their own plans and overlook the competition. Well, I would say competition analysis helps a big way.

WHY COMPETITION ANALYSIS?

• It helps to understand your competition, the potential consumer and the market
• It gives you a picture of the keywords they use, the search volume, the link wheel that they created so far, their presence and so on
• It gives an understanding of competitors’ strategies
• It creates a platform for you to develop your strategies, targets, audience and market

Before you collect and categorize competition analysis data it is essential to understand your keyword to purchase funnel.