10 Best Competitor Analysis Tools In 2024 - Free & Paid Tools
Let’s talk about a topic that is scary for several marketers: Competition, and how you can compete with the help of competitor analysis tools.
It doesn’t matter the industry you’re in; marketing is great to capture the audience’s attention. With different marketing channels out there, one thing that remains fierce is competition.
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What is Competitor Analysis?
What level of brand awareness does your competitors have in the market? More or less than your brand? Detect and learn about their prices, share prices, earnings reports, customer care practices, company cuture and other things.
In short, you must identify and evaluate your competition, their strengths and weakness and how do they compare to your product, brand or business.
Conducting a Competitive Analysis is crucial in today’s competitive market. Here, competitor website analysis tools comes into play! There are many tools out there to help you give insights from competitor ranking to competitor traffic. Thus, with the right set of tools, you can spend effort and focus more on marketing.
What are Competitor Analysis Tools?
Competitor analysis tools are used to measure, understand, and address competitive threats to a company. These tools can be used in-house or through external sources. In general, there are four main types of competitive analysis tools: market research, competitive intelligence, business process analysis, and market segmentation.
Competitor analysis tools can help you understand the workings of your competition and pinpoint potential opportunities to outsmart them. You can also keep up to date with industry trends and ensure your product/service meets or exceeds industry standards.
Types of Analysis performed by Competitor analysis tools
- Market research is the most common type of competitive analysis and it entails conducting surveys and gathering information about your target market. This data can be used to identify areas where your opponent is weak and to develop strategies to take advantage of those weaknesses.
- Competitive intelligence involves studying the behavior of your opponents and their products or services. This information with the help of competitor analysis tools can be used to determine which products are being sold in which markets, understand how your opponents compete with each other, and develop strategies for overcoming their competition.
- Business process analysis (BPA) helps you understand how companies operate and how they interact with their customers. This data with the help of customer experience tools can be used to develop hypotheses about what makes certain customers behave differently from others, learn about trends within your industry that may affect your competition, or create plans for countering opposing efforts.
- Market segmentation is an important type of competitive analysis that divides the population into separate markets or segments so you can better understand how they interact with each other and what Competition is doing to them. By understanding this information, you can make better decisions about where to allocate resources in order to remain ahead of your opposition.
10 Best Paid & Free Competitor Analysis Tools in 2024 to spy on your competitors
These top 10 competitive analysis tools will help you understand, find information and secrets about your competitor’s marketing strategy and their success in your shared market.
With the help of the information provided by competitor analysis tools you will be able to track your personal website’s performance and gather the data about your business which you must continuously improve.
1. Semrush
Semrush is one of the best competitor website analysis tools in the market! You can use Semrush for analysis if you want to compete against the users in the search engine and rank on top of the Google search results. It gives a complete picture of the competitor ranking & also helps us compare it to extract useful insights.
A powerful competitor SEO analysis tool, it monitors the SEO performance of competitors along with many other features. Here are things you can find with Semrush:
- Backlinks they receive
- Organic keywords they rank for
- Paid keywords
- New and lost keywords
- External links to their website, and much more!
- Competitor traffic analysis
It monitors your search engine performance, too. You can also get your competitor’s organic keywords through Semrush. This data will show you the ranking of your competitor’s website for specific URLs through keywords.
Semrush being one of the best social media competitor analysis tools comes With a social media tracker, you can track your competitor’s presence on social media and accumulate insights on what type of content is trending.
2. Locobuzz
Locobuzz is one of the best and trending competitor analysis tools in the market. This tool analyzes competitors to find the most relevant keyword for your business as well as the primary keyword that your competition is using.
It also provides the keywords the site is ranking on. It is then possible to trace back and locate the content and backlinks which are giving them this rank. Utilize this information to determine the way your competitors’ backlinks are performing and then hunt for them on your own website.
This tool can assist you to find potential leads or partners. It can help you spot emerging trends and explain the consumer’s intentions and their journey. It gathers data in raw form, cleans and arranges it, then processes it using learning algorithms completing the information you require and then delivering them directly to you.
3. SpyFu
With SpyFu, you get a complete idea of your competitor’s Google ranking, the keyword they are bidding on in Adwords, and ads they’ve purchased in the past five years. No doubt, SpyFu is one of the most popular competitor website analysis tool!
SpyFu as one of the most efficient competitor analysis tools also allows you to download keywords while searching for a competitor. It also lets you uncover the PPC and SEO strategies of competitors. SpyFu helps you see the present and past competitor ranking in paid keywords.
With the help of this tool, you can:
- See Spyfu competitor’s top organic keywords
- Estimated PPC and SEO clicks
- Track competitor’s changes in ad spending
- Sort relevant keywords by cost per click
- Find out the best keyword opportunities and more
Spyfu gives you insights into the paid traffic of your competitors. You get “pre-written Adword Templates” by advertising experts to make your PPC campaigns successful.
Also, Read Why Competitive Analysis is Crucial for Brands in 2022
4. SimilarWeb
Unlike other competitor analysis tools, SimilarWeb is designed especially for SEO and content. It presents a clear and accurate picture of competitor traffic, top organic and paid keywords, traffic sources, and other essential data points.
With SimilarWeb, you can:
- Get an overview of your competitor’s traffic
- Different traffic sources
- Competitor’s top 5 paid and organic keywords
- See top competitor’s based on similarity and rank
- Global rank, country rank, category rank, and more
It tracks insights about where your competitors come from and helps understand their customers, competitors, and market. SimilarWeb processes over 5+ billion events in a single day through its machine learning algorithms. It is easy to say that similarweb provides one of the best competitor analysis tools among its competitors!
5. BuzzSumo
Buzzsumo monitors a competitor’s top-performing posts. It tracks essential metrics around posts and finds out which social platform works best. BuzzSumo competitor research feature gives insights into a competitor’s performance in social shares, networks they share their content in, and how your content compares against theirs.
This competitive analysis tool also acts as a media monitoring tool because you get instant notification whenever a competitor brand’s social media post is mentioned online. BuzzSumo gives five years of historical data in PDF and CSV formats to download within a few seconds.
6. Ahrefs
Launched in 2012, Ahrefs is one of the best SEO and content competitor analysis tools that analyzes competitive keywords, backlinks, traffic, Pay Per Click (PPC), and more.
Ahrefs has a database of 192 billion pages making it the most extensive index of backlinks on the entire web. You get tons of updated data to boost search rankings.
Ahrefs finds out which competitor page gets the most backlinks and social shares. Here are some things you will get in Ahrefs:
- Reports containing valuable data
- Actionable insights by finding your competitor’s page by backlinks
- Websites that link to competitor domain
- Indicates how powerful competitor link building strategies are
- Uncovers competitive intelligence data to increase rankings and more
This competitive analysis tool also monitors a competitor’s top organic keywords to get a rough idea of the traffic a competitor receives on particular keywords.
7. Talkwalker Alerts
Talkwalker Alerts is one of the best free competitor analysis tools in the market. It allows you to keep an eye on the Internet for the latest news related to your company, its competitors or any other subject you’d like to know about.
This tool brings every one of your competitors’ mentions across the Web from blogs, forums, blogs, websites and even Twitter to your inbox , all in one email.
It provides detailed data about your live audience. If you are in the business of marketing or advertising you can utilize it to increase the social-friendlyness of your strategies and campaigns. The effectiveness of the campaigns can also be properly analyzed.
This competitive analysis tool even has its own specific AI tools that are able to analyze the demands of the public. This tool can develop strategies and create content that are likely to become viral. It even addresses hashtags that add an additional edge to your posts and social media posts.
8. Owletter
When it comes to analyzing and understanding your competitor’s move in terms of email, Owletter is one of the best website competitor analysis tools out there. This tool helps you to discover and understand every move of your competitors, including their frequency, schedule, and over-time trends.
The best thing about this tool is it grabs email from your competitors and arrange them in a single and user-friendly dashboard which only few competitor analysis tools provide.
Over time, you’ll have access to basic analytics of each competitor, such as the total number of emails they’ve sent, when they are sending, how their newsletters are going to spam.
This will help you know better about your competitor’s email strategy and how you can craft your email strategy better to acquire new customers.
9. Sociality
Sociality is an affordable competitor website analysis tool that can provide all competitor’s reports in one report. With this tool, you can easily create competitor analysis reports of Youtube, Facebook, Twitter, and more social media networks in a few minutes.
You can analyze your performance with your competitor’s interaction charts, analyze competing page content with comparative reports and review your content strategy.
Want to know the best part? This tool allows you to create unlimited reports and helps you to export in PPT and Excel formats include the following metrics:
- Subscribers’ growth
- Number of total interactions
- Post days
- Post hours
- Engagement rates
Unlike other competitor analysis tools, its advanced filters help you to sort every content based on its type and engagement rates. Overall, this popular competitive analysis tool can do wonders for you if you know how to use it. They also provide a 14 day free trial for new users.
10. Wappalyzer
Wappalyzer is one of the best free competitor analysis tools in the market. It runs as a Firefox add-on that only does one job but does it very well.
Wappalyzer is a cross-platform utility tool which reveals the technology utilized on various websites. In short, Wappalyzer functions as an extension to your browser that will identify the type of software used on a specific site. It allows you to visit the websites of your competitors and receive an instant overview of the software they’re running.
This competitive analysis tool is able to identify content management systems, ecommerce platforms, advertising networks, web frameworks, server software, comment systems such as live chats, CRMs, marketing automation, analytics tools, SEO tools and much more.
It uniquely lets you do a bulk search and create custom datasets for competitive analysis and market research.
How to Use Competitor Analysis Tools?
To evaluate your competitors, use competitor analysis tools to identify what they are doing that you may not be. For example, you can use competitor analysis tools to analyze their pricing strategy, product content, or other areas where they may be offering a better deal.
If you decide to compete with them, also use competitor analysis tools to assess how well they are performing and whether there are any areas in which they could improve. Use this information to make informed decisions about where to invest your resources and where to start your own business.
Pros & Cons of competitor analysis tools
Pro’s
- Trade secrets of competitors availble to you.
- Data recieved from tools can lead to new opportunities.
- Can easily differentiate your products and services.
- The tools can help you create your USP.
- Can help in on-page and off-page SEO
Con’s
- Too much information can be shattering or overwhelming.
- Some competitive analysis tools can be a little costly.
Why competitor analysis tools are necessary?
Instead of spending a lot of time looking over your competition, why not use some clever tools to help you with the task? Using the right competitive analysis tools, you can spend less effort trying to dig dirt on your competitors and more time marketing.
- Competitor analysis tools help to identify the unique value proposition for your product or service, and what makes it stand out from its competitors. It can also be used to inform future marketing efforts.
- Competitive research will show you the strengths and weaknesses of your competitors and help you understand their market position, strength and weakness.
- Competitor analysis tools helps you in tracking, analysing and gain insight from the strategies of your competitors. You can then use this information to kick-start your marketing campaigns and make it massive!
- You can learn from customer reviews about what is missing from a competitor product and how you can add features to your product/service to address those needs.
So, why would you like to waste your valuable time and efforts, if all the competitive analysis can be done by competitor analysis tools.
Conclusion
Competitive analysis is an essential part of marketing strategy. If you’re looking to get ahead in the highly competitive SEO field, these best competitor analysis tools will help you.
These competitive analysis tools will show all that you need; from competitors’ top-performing organic keywords to websites that are providing high-quality backlinks to your competitors. By using these tools, you will spend more time analyzing and focusing your efforts on growing your business and staying ahead of competitors.
So, which tool will you be using? Or any other essential competitor analysis tools you know of for conducting competitive analysis? If yes, let us know in the comment section below.
Frequently asked questions
Competitor analysis is carried out using competitive analysis tools. There are many such tools that will give you comprehensive information about your competitors. You can conduct this analysis by examining the information of your competitors. the strengths and weaknesses of your competition and determine what they can do to improve them.
Competitor Analysis Tools are the tools that helps to review the strength and weakness of the current and future competitors. The tools will help you understand, find information and secrets about your competitor’s marketing strategy and their success in your shared market. This tools will also track your personal website’s performance and gather the data about your business which you must continuously improve.
Locobuzz is one of the best competitor analysis tools in the market. This tool analyzes competitors to find the most relevant keyword for your business as well as the primary keyword that your competition is using.
Yes, Free Competitor analysis tools can be useful to some extent as they may have limited features compared to paid competitor analysis tools. Other best tools like Locobuzz, Wappalyzer, & Talkwalker Alerts are providing free trials which is worth to try.
