Understanding your competitors is an essential aspect of building a successful business, no matter if you’re a SaaS company or belong to any other industry. Even the stores and restaurants run a competition analysis before they finally launch the business. That means you must conduct an effective in-depth B2B SaaS competition analysis so you can identify their weak areas and use that to your advantage.
But how to do that? Do you need to spend weeks reading every page’s content, or is there a faster way around it?
The truth is, you’ll have to invest some time to focus on their content pieces to uncover the eventual gaps and shortcomings. That way, you can refine your current content strategy, map the new opportunities, and position your SaaS business for greater success.
So, these are the steps you’ll have to take:
Table of Contents
1. Identify Your Competitors
You can’t run a competition analysis if you don’t know who exactly your competition is in the SaaS industry. We know there are many SaaS companies offering even similar products to yours, so maybe you’ll have to focus on them first. Find the top 3 competitors for the initial stage. List them in a spreadsheet, and you’re ready to dive deeper into their websites and content strategies.
Also, you can add three to five more to the list, but start small and then extend your analysis, so you won’t overlook something important.
How to Find Competition Companies?
Use the power of the Internet or some tool that comes in handy in these cases. For example, tools like Ahrefs allow you to use the Site Explorer feature and identify some of your competitors. Sometimes, you simply know who the competitors are that cause you the most headaches.
Or you can simply check on who ranks higher than you on search engines using relevant search entries.
2. Analyze the Content Quality
First, just take a look at how the competitors organize the content flow on their websites. Imagine you’re a customer, not a SaaS business competitor. Check if the buyer’s journey is smooth or if you need to leave pages and lose yourself in a labyrinth of navigation elements to find the needed information.
Also, pay attention to the content quality. Look for factors such as relevance, depth, accuracy, and engagement. Identify any gaps or areas where their content may be lacking in providing comprehensive solutions or addressing customer pain points. Remember, your advantage is based on these weaknesses, so analyze the content quality even when it takes a week or two to complete that.
3. Evaluate the Content Types
What do your competitors publish on their websites? Do they have blog posts, case studies, complete product guides, comparisons, etc.? Do they publish videos on their YouTube channel? Or maybe they attend various webinars and podcasts to promote their product or simply raise awareness around the brand.
All these aspects help you identify the underutilized content types, no matter if it’s on their website or yours. That’s a great opportunity for you to make a difference and cover content aspects your competitors missed.
4. Create a Keyword Strategy
The tools like Ahrefs and SemRush allow you to check on the keywords your competitors rank for. While performing extensive keyword research, you can find so many keywords they aren’t targeting but have high search volume but low competition. Sometimes they may even use these keywords but not leverage them effectively.
These actions will help you find keywords and search queries to target according to the buyer’s awareness stage.
5. Identify the Content Gaps
By comparing your content offerings to those of your competitors, you can identify content gaps where they may be weaker or missing altogether. All these gaps are opportunities for you.
You have a unique chance to fill the void and position your SaaS business as a resource for potential customers. At this point, you must have expert content writers by your side, as well as SEO specialists who will handle these challenges for you.
6. The Significance of FAQs
Frequently Asked Questions, or FAQs, are a great way to give short and concise answers to the most common questions and concerns the customers have. By including a comprehensive FAQ section on your website, you can proactively provide answers to their most pressing questions, positioning your SaaS business as a trusted source of information.
So, what do you need to do?
Check on how competitors handle this part, and see if they address most of the concerns. By answering the FAQs you’ll identify with analytics tools, you can enhance the SaaS competition analysis and overpass them in a matter of time.
How to be Innovative and Different as SaaS Business?
In general, SaaS is the same for everyone – a software product you sell to clients. They use it to manage the workflow, archive the documents, track productivity, etc. There are many niches in the SaaS industry, and maybe you can’t be much different than the others.
That’s why conducting an effective SaaS competition analysis while evaluating their content helps you efficiently position your company for success. By finding the eventual competition content gaps and a powerful strategy by your side, you can adopt a completely new approach to giving the clients the answers no one else can answer for them.
And surely, staying ahead in the competitive SaaS landscape is the most sought-after benefit, resulting in growth for your business.
