One of the most essential parts of any market research – be it offline or online – is to know who your competitors are. Even if you have a professional report from an Internet marketing company, don’t skip on your own bit of research. It is always useful to see your most powerful competitors personally and evaluate their presence on the web.
Research Competitors in Your Field
Your research should start with search engines. First, try the most generic keyword describing your industry and business. In most cases (but not always), the list of the search results will have your industry’s highest authority on the top. It can be a company, an industry association or organization, or even a direct competitor. The website representing the highest authority in your field is where you should start.
Use the information provided by the authority website to your advantage. Apart from lots of useful industry facts featured on the site, you can find a list of external links to related websites, which are likely to be high profile and reputable representatives of your field (read: your most powerful competitors). Depending on the size of your business, you could be directly in competition with one of these high profile companies.
Another place to look for websites related to your industry is one of the numerous online directories. There are plenty of large and free directories with hundreds of categories, even if you may have to dig deep to find exactly what you want.
Analyzing the Search Results
If you performed the search successfully, collecting information from a few high profile sites, the next step is to analyze their web presence.
Type their name in search engines and check how many sites mention them along with the links. Why are their names mentioned on these websites? What is the reason other sites link out to them? Probably, the link is given as a reference to more detailed information on the subject, or as reputable source to prove certain facts or data related to the field
Search their names in discussion lists and newsgroups. That will give you people’s feedback on these websites, their products and services. Do they communicate with their potential clients and partners online? How do they achieve a loud online voice? What can you do to have an even more distinguished online presence?
Check specialty journals, newspapers and web libraries for their names and the kind of exposure they get. Try to understand why they are getting it.
What kind of advertisement do they use? What sites are promoting them, how and why? Are their names featured on conference or industry association sites? Is their advertisement aimed at increasing their reputation or attracting potential clients? Take time to check more links related to your industry. Don’t limit your research on your competitors only. Bookmark interesting sites; the information may come out handy later.
Industry Research – Combining the Results
Internet marketing research on your industry will be even more valuable if you and your marketing company combine your results and work together to build a SEO campaign. From your side, you can contribute to the process by expressing your ideas and your vision, and sharing the information you obtained from your own research.
While the Internet marketing company may have their own unique ways of researching the industry, chances are you know your industry better than them. If the company is good, they will understand what you need and will use the information you provide to your advantage. If they fail to listen to your opinion and/or trying to convince you to change your mind, it might indicate a lack of experience or expertise on their part.
In fact, if the SEO company you work with is a genuine one, it will welcome any industry information you can provide. It’s a two-way beneficial process: you share your knowledge on the industry, and they share what they got from their research. And while many methods of marketing research are kept under wraps, you can ask them to show results obtained during their research. No matter whether you choose to continue working with the company or not, you can always refer to their report in the future.
