Competitor Analysis is a very crucial part of the online marketing strategic planning process. Many real estate offices should have at least a strategic plan that outlines the main role of their competitor analysis.
Why even bother to analyze your real estate competitors?
Some real estate agents think it is best to get on with their own marketing plans and ignore the competition. Others become very obsessed with tracking the actions of competitors and try to out compete them in SEO (often using black-hat methods). Many real estate offices are happy simply to track the competition, trying to copy their moves and reacting to website changes.
Comprehensive competitor analysis have a handful of important aspects in strategic marketing:
- To help sales/rental agents understand their competitive advantages/disadvantages relative to competitors
- To generate understanding of competitors’ past, present (and most importantly) future web marketing strategies
- To provide well informed data in order to develop marketing strategies to achieve competitive advantage
- To help forecast future returns that need to be made from future investments such as: how will competitors respond to a new website strategy?
There are many more aspects to analyzing your competitors and we can provide you with a detailed and very thorough report that analyzes your direct competitors. Also, recommend an action plan on how to get up to speed with your competition and out-compete them.
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