No matter if your business is small or big, competitor analysis must be a part of marketing strategy. It helps to asses the strengths and weaknesses of your competitors and allows you to use their best practises or avoid the mistakes they made in the past. Competitor analsysis simply provides an offensive and defensive strategic content whic easilly allows you to identify opportunities or threats and lets you plan your next moves more intelligently. Of course, one of the best well known tools to keep a tab on your competitor’s activity is SimilarWeb and they recently brought out a new feature.
The new service of custom reports allows marketers to find some of the traffic patterns behind their sales.
SimilarWeb is out today with a new service that offers a more granular look at the paths taken by online buyers, offering insights that the company says are not available elsewhere.
Called Digital Insights, it is a series of custom reports that can indicate how most buyers reached a given destination, which affiliate links or search terms are the highest-converting, and other metrics related to buying patterns. To use the service, marketers contact SimilarWeb through its website, describe the question(s) they want to answer, and the company sets up a customized arrangement for pricing, kind of report and report frequency.
It is intended to complement the Israel-based company’s regular PRO service, which provides traffic stats about websites and mobile apps. It uses the same data set, which SimilarWeb says covers 80 million websites in over 190 countries.
An example custom report from Digital Insights looked at which channels were more effective in selling women’s and men’s jeans on Amazon during last year’s holiday season.
Among its findings: users shop for and buy more men’s jeans on that mega-shopping site than women’s. Additionally, the conversion rate for referral links from affiliates was twice as high as from other routes. The largest number of users looking at those products on Amazon came from direct entry of the Amazon.com URL.
Ade Camilleri is a leading Internet marketer and Data Marketing Analyst for some of the worlds leading Comapnies with a focus on Tourism, Public Companies, Government Organmisatioons and iGaming. He forms part of the Media Plan group of Copmpanies who provide Digital Marketing Services for iGaming, Tourtism and Fortune 500 Companies.