Many business owners see a competitor’s website and think, “I want mine to look like that!” But before you rush to copy what looks like a successful site, it’s important to dig deeper. Not all websites that look good actually drive business. In this article, I’ll walk you through how to conduct a competitor website analysis and see if it’s truly helping them generate revenue.
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Step 1: Conduct a Competitor Website Traffic Analysis
The first thing to consider when you evaluate competitor websites is if the website is actually bringing in traffic that converts. A great-looking site doesn’t mean much if no one is visiting it. You can use tools like Ahrefs to see key data such as:
- Domain Authority: This shows how well the website ranks on search engines.
- Keyword Rankings: Are they ranking for keywords that matter? Look at whether their top-performing keywords are branded or non-branded.
- Traffic Volume: Your evaluation should include a competitor website traffic analysis. Check if the site is attracting enough visitors to make a real impact on revenue.
If traffic numbers are low, that’s a red flag. Even a few thousand visitors a month might not be enough to make a significant impact on the company’s bottom line, especially if conversion rates are low.
Step 2: Conduct Competitor Keyword Research
Keywords are a good indicator of how well a website is performing. When you conduct competitor keyword research, gauge If most of the traffic comes from branded keywords (like the company’s name), it’s likely that people visiting the site already know about the company. Companies need to rank for non-branded, high-intent keywords that potential customers are searching for.
For example, a commercial real estate lending website should rank for keywords like “commercial real estate loans” or “multifamily loans,” not just their company name. If their site isn’t ranking for relevant, high-traffic keywords, they’re probably not bringing in new business directly from the web.
Read More: How to Optimize Your Startup’s Website for SEO Success
Step 3: Evaluate the Business Model
Even if a competitor’s website looks great, it might not be the main driver of their business. It’s important to understand their business model. Some companies use their website mainly as a branding tool, while others rely more on partnerships and offline strategies to generate leads.
One way to assess this is by looking at their team on LinkedIn. If they don’t have in-house marketers, content creators, or SEO experts, it’s a sign that they’re not focusing on driving direct business through their website. Instead, they may depend on outbound sales or partner networks to grow.
Key Takeaways
When conducting a competitor website analysis, don’t be fooled by a polished design. A good-looking site doesn’t always mean it’s driving revenue. Focus on these key areas:
- Traffic: Is the site attracting enough visitors, especially from non-branded searches?
- Conversions: Is the site set up to convert visitors into leads or customers?
- Business Model: Understand whether the competitor’s business model relies on their website or other strategies like partnerships.
By diving deeper, you’ll be able to make smarter decisions for your website and create a strategy that actually drives growth.