Competition…
Are your online competitors the same as your brick-and-mortar competitors? What’s the difference? And how do you figure out who, and where, you should be targeting? Well, you know from your monthly OEM reporting what your market share is, and who your competitors are, right? But that doesn’t really encompass everything, does it? In fact, over the last five years, the number of online disruptors has increased exponentially. We’ve got cars.com, Vroom, and Carvana, just to name a few. Each of these are competing against you when it comes to direct sales, affecting your bottom line, and guess what? They’re not going to be covered in that OEM report. So, how do you know who’s stealing your lunch out of the fridge?
Perform Some Google Searches
If you perform search queries based on terms that are important to your business, you’ll find other people who are trying to show up for those same things. It’ll provide you with a better understanding of who’s putting forth the effort and who’s not. The latter are not the ones you need to be concerned with, at least not for the time being. But what do you do about the others? How can you outrank them?
Look at How They’re Ranking
If they have content that’s performing particularly well, write it better. Take that piece of content and make your own custom version of it: make it longer, include more details that are valuable to prospective customers, and anticipate and answer related questions. By understanding your audience, knowing what’s important to them, and addressing their needs more directly than your competitors, you have more of a chance of taking them head-on. After all, if you think you can outspend Carvana, you’ve probably got another thing coming. In many of these instances, SEO is the answer.
Recap
Your competition has expanded beyond local competitors to include major online disruptors who may not be reflected in the OEM reporting you receive. That said, a simple Google search can determine who you’re competing against to rank for the keywords that are important to you. If someone is outperforming you, use their content as the benchmark by which you improve your own. Making your answers more authoritative increases the likelihood of their being viewed by Google as the definitive answer.
FAQ
→ What is the difference between online competitors and brick-and-mortar competitors?
Online competitors are companies that operate exclusively online and may not have a physical location, while brick-and-mortar competitors have a physical location where customers can visit to purchase goods or services.
→ How can you determine who your competitors are in the online space?
To determine your online competitors, perform a Google search using relevant keywords related to your business. This will show you who else is trying to rank for the same keywords and who you may be competing against for online visibility and sales.
→ How can you outrank your competitors in the online space?
One way to outrank your competitors is to analyze their content and create your own custom version that is longer, more detailed, and more valuable to prospective customers. By anticipating and answering related questions, you can address the needs of your audience more directly than your competitors and increase your chances of ranking higher in search results.
→ How can SEO help you compete against online disruptors?
SEO (search engine optimization) can help you compete against online disruptors by improving your website’s visibility in search engine results pages. By optimizing your website for relevant keywords and providing high-quality, authoritative content, you can increase your chances of ranking higher than your competitors and attracting more online customers.
→ What should you do if your competitors are outspending you?
If your competitors are outspending you, focus on improving the quality of your content and optimizing your website for SEO. By providing more authoritative answers to common questions and addressing the needs of your target audience more effectively than your competitors, you can still compete effectively even if you don’t have as large a marketing budget.