ROI

5 Reasons Why Traditional Competitor Analysis Isn’t Enough
You might think you know who your competitors are, but have you taken the time to look at metrics such as SEO, search rankings, and clickthrough rate? Here are five reasons why traditional competitor analysis may not be enough and why your competitors might be different than what you initially thought.
1. Times Have Changed
It can be easy to get stuck in the past, but you might want to consider that the most popular medical office from twenty years ago maybe isn’t so popular anymore. Furthermore, new businesses have developed in that span of time that you should be aware of. Besides, look at how much has changed in just a few years: online presence, technology such as AI, and new marketing strategies. It makes sense your competition will change as time passes.
2. Online Competition
As a practice with a physical location, you may not be considering the online presence of other practices. Many online services are now available in the medical industry, such as virtual appointments and online stores for products sold by your practice.
3. Narrow Thinking
You may be thinking too narrowly about who your competitors are. For example, if you own a general dental office, you might just be looking at other dental practices in the area. What about orthodontists, oral surgeons, specialty dentists, or pediatric dentists? Some of these practices might be your competitors, too.
4. New Competition
You may be basing your competitors on those who have been around for some time or those that you have heard of. New companies that have had a strong start and gained a large client pool within their first few years of development may also be some of your top competitors.
5. Reliance on SERP
If you are only looking at the search engine results page (SERP), your perspective on your competitors may be shifted. SERP is based on national results, and although you may have some national competitors based on the services you offer, a more local perspective could be more accurate when trying to boost the relevance of your practice.
Gain a New Perspective and New Marketing Strategy
Once you know who your top competitors are, you can compare their practice to yours and use this as inspiration to alter and improve your marketing strategy. This can be a lot of work, but luckily, Digital Limelight Media is here to help! Let our marketing and design specialists redesign and rebrand your website to put your practice at the top of Google’s search results. Schedule a quick demo with us today to learn about the services we offer.