You have two basic ways of developing your business.
The first way, is to figuring out such a business type, that will blow away all the competitors and will fill your pockets (or bank account) in a blink of an eye.
Being creative and innovative will always be an easy way to reach success (unless your name is Nicola Tesla). Look at Bill Gates, Steve Jobs, or Elon Musk. These are people who came up with great ideas and by putting their plans into motion, they managed to reach greatness. The best thing about the inventors is that no matter what others do, they will always be: “Like…”
The second way, is to mimic someone who already did it.
Ranking in Google is a very peculiar process. You can call it a kind of a vicious cycle.
Google watches the top positions in SERP (Search Engine Results Page) and thinks: “If it’s that high, it must be what people want.” Thus, the browser bases its parameters on the top websites ranking for certain category or keyword. To reach the top you must look like the top. Most of the time, whether you have a quality content on your website, but it’s not what’s in the top of SERP, you can have a hard time ranking high.
“I don’t need any competition analysis! My products are unparalleled.” Well, we don’t doubt that. Whatever is that you are selling, it’s probably as good as can be, whether it’s cars, insurance, electronics, or fishing rods. In modern era the quality product is absolute must for any business. But the quality itself will not give you top positions in Google. And how will people find your products if they can’t find them in Google? Before they see your offer on the third page of SERP, they will have 30 other companies offering the very same products that you’re trying sell. What will force them to proceed?
Competition is about competing. If you refuse to compete at all, you’re not a competition.
Who is my competition?
If you are in the business for years, you’ll be well aware who is your biggest threat on the market. Let’s say you have a bike shop in your city. Probably you know every other bike shop around. The same goes for the Internet. No matter if you’re selling physically, or online - or both - you will have websites that are your direct competition.
On the other hand, if you are just starting, the best way will be to type the keywords you’re interested in into the browser, and look. Type in, for instance, “bike shop [your city]” and see what pops in top. You can try and do it with more specific keywords regarding your business. There will be repeatable websites, that have dominated the niche over the past couple of years.
Also, there are some SEO tools that will show you domains and websites that are ranking high for certain keywords.
This is your competition. If you are not in the top 10 for a desired phrase, it means, you have work to do.
What is competition analysis in SEO?
Remember that wretched bike shop from across the street that’s stealing away your potential customers (meaning - profit)? Why is that? Why do people choose his shop over yours? Is it cheaper? Are his bikes of better quality? Does he have more recommendations? Or maybe it’s the after sale service? Asking these questions and looking for answers is competition analysis.
In SEO, we focus on websites. There can be countless reasons for a domain to rank high in Google. The domains age and history, the quality of content, the keyword density, the number of backlinks - the list goes on and on. Identifying these factors and recreating them on your website will increase your ratings dramatically.
Truth is, you will not rank high in Google without competition. Times, when there was no competition whatsoever are long gone. Whatever your business is, you will have a rival on this field. For Google to rank you high, you have to match your rivals or be better than them. There is no way around.