Starting up is one of the most exciting journeys that one can choose to go through in one’s lifetime.
It comes with so much learning, anxiety, stress, deep connections, meaningful friendships, long term collaborations, for some – a lot of money and what not.
However, while you start up, you know that you may not have all the time in the world to have it succeed. There’s a limited time window in which you try something new, you go bananas trying to make it work, you invest and you loan!
In this window, which is usually tight, considering there are too many hats to wear for a founder, you don’t want to be reinventing the wheel. Meaning, making the same mistakes as your competition or not being aware of what worked for them, should be the top priority in your to do list of 149 new tasks every day.
That’s the reason, competition analysis is so important! You want to use all the possible tools (great if they’re free), to ensure that you’re closely monitoring and auditing your competition. It’s only if you do this well, will you save dollars and time by being sure of what works and what not.
Here’s the list of some top freemium tools that I suggest every startup founder to be aware of.
The areas that you can cover with these tools are:
- Competitor traffic analysis
- Competitor keyword ranks monitoring
- Competitor advertising strategy
- Competitor website audit, the tools & plugins they use
- Competitor SEO analysis, on page & backlinks
- Competitor social media pages analysis
Complete list of tools available in the below Instagram post! Give it a shot & DM me on https://www.instagram.com/digital.marketing.school/ in case you have any questions!
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Also Read: The Fundamental Guide to Conducting Marketing Research For Your Product or Service
