How to Track Ecommerce Competitors (Full Review)

When your competitors seem to be flourishing, it’s natural to question if you’re doing enough and what you’re doing wrong. 

Keeping your target customer’s attention and loyalty, even when you have high-quality products, is tough in a fast-paced market.

And without knowing what your competitors are up to, it’s difficult to know what you can do better and what your mistakes are.

But there’s an easy fix: competitor analysis.

It’s not the most exciting thing on a marketer’s to-do list but it’s crucial if you want to make good decisions, spot gaps, and corner your market. 

In this article, you’ll learn how to track your e-commerce competitors and conduct a competitive analysis. 

However, it doesn’t stop here. Understanding what your competitors are doing is just the beginning. The real value comes from using this information to your advantage. When you know how to track your competitors effectively, you can unlock several benefits for your e-commerce business. 

Let’s explore how competitor tracking can give you the insights you need to thrive and grow in a competitive market.

Track Ecommerce Competitors: A Comprehensive Guide

• What is competitive analysis in ecommerce?
• Why You Need Competitor Tracking in Ecommerce
• Ecommerce Competitor Tracking and Analysis Tools
  • Ahrefs
  • Similarweb
  • Semrush
  • BuzzSumo
  • Panoramata
• 9 Tips for Ecommerce Competitive Tracking
  • Identify competitors
  • Conduct a competitor keyword analysis
  • Track your competitors’ websites
  • Identify their brand position through social media, press coverage, and website copy
  • Analyze their product catalog
  • Read customer reviews
  • Monitor their ads and email newsletters
  • Create a competitor analysis report
• Mastering Competitor Tracking for Ecommerce Success
• Frequently Asked Questions
• Why is tracking e-commerce competitors important?
• What tools can be used to track e-commerce competitors?
• How often should I review my competitors' activities?

What is competitive analysis in ecommerce?

Competitive analysis in e-commerce is the process of looking at what other businesses like yours are doing. It involves checking their products, prices, marketing strategies, and customer reviews. 

By understanding these things, you can learn what works well for them and what doesn’t. This helps you improve your own business, make better decisions, and find ways to stand out.

By understanding their strategies, products, and customer interactions, you're equipped to make informed decisions that propel your business forward. Remember, competitive analysis isn't just about keeping up—it's about seizing opportunities and setting your brand apart.

Why You Need Competitor Tracking in Ecommerce

What’s with all this talk of competitor tracking?

Simply put, competitive analysis steps up your game so you don’t just survive–you thrive. 

Tracking competitors gives your e-commerce business a competitive edge. It helps you define your value proposition and spot opportunities and threats. You’re prepared for what comes ahead. You don’t rest on your laurels, even if your numbers are doing good.

Do you know what your competitors are doing right? Or wrong? This awareness shows you gaps in the market. You can fill those gaps and attract more customers.

Competitive analysis also helps you understand what makes your target customers tick. Imagine knowing which products they want that your competitors don’t offer. You can offer those products. 

If your competitor’s pricing strategy isn’t working for your audience, you’ll find out about it through competitor tracking and adjust your prices to be more competitive.

Ecommerce Competitor Tracking and Analysis Tools

Competitor tracking is possible manually but the old days have passed and there are tools made to make the tedious task of competitive analysis easier. 

Here are some tools we like, both familiar names and underrated picks, that will do most of the work for you.

BuzzSumo

BuzzSumo is a tool for tracking trends, optimizing content marketing performance, and reaching journalists to work with. Content marketers use it to find content ideas and outreach opportunities. 

You can use it to analyze your competitor’s publishing frequency, formats, and networks to see which content pieces are performing best. 

There are also features for tracking backlink performance and social engagement so you have a razor-sharp look at the content you should be releasing. 

Panoramata

Monitor your competitor’s marketing strategy in one platform with the competitive analysis tool Panoramata. 

It tracks email newsletters, flows, ads, landing pages, SMS campaigns, and websites, among others. A notable feature is the shareable inspiration list which you can curate from creatives (emails, ads, and websites) from any brand on the platform. 

The real-time dashboard with summaries and detailed updates keeps you informed automatically so you don’t have to keep checking your competitor’s newsletters and websites. 

Ahrefs

The SEO software Ahrefs is used for link building, keyword research, site audits and more. Marketers use it mainly to rank higher on search engine results pages. 

On Ahrefs, you can find information on a website’s link profile, keyword rankings, and SEO performance. It’s a great tool for conducting competitor keyword analysis–a significant part of a robust competitive analysis. 

Similarweb

If you’re particularly interested in benchmarking and improving your website traffic, Similarweb is a no-brainer tool to use. 

You can track your competitor’s highest search traffic sources and break them down into categories (referral sites, social media, and top search keywords). 

Plus, you can compare yourself with multiple competitors on Similarweb’s dashboard and analyze which of your competitors are leading the pack in terms of traffic, unique visits, views, total traffic, engagement, and performance in your primary market. 

Semrush

Semrush is a suite of tools that target different marketing problems and offer solutions to businesses looking to create better content, conduct competitor analysis, and rank higher on search engines. 

Through Semrush, you can identify competitors based on different categories such as organic keyword rankings, paid keyword rankings, and shared backlinks. 

Once you find out who your top competitors are, you can check for keyword gaps, backlink gaps, and other opportunities to seize.

9 Tips for Ecommerce Competitive Tracking

Identify competitors

To identify competitors in e-commerce, start by looking at three types of competitors: direct, indirect, and substitute. 

Direct competitors sell the same products as you do. For example, if you sell shoes, other shoe sellers are your direct competitors. 

Indirect competitors sell different products that meet the same need. For instance, if you sell running shoes, a store selling running gear like clothes and accessories is an indirect competitor. 

Substitute competitors offer different solutions to the same problem. If you sell online workout programs, a local gym offering fitness classes is a substitute competitor.

Understanding these types of competitors helps you see the bigger picture in your market. 

Direct competitors show you what customers expect when they buy products like yours. Indirect competitors help you see other ways to meet your customers' needs. Substitute competitors reveal different options your customers might consider. 

By knowing all three, you can better position your business, find market gaps, and offer unique value to your customers. This makes your business stronger and more competitive.

Conduct a competitor keyword analysis

Google search results are paramount in ecommerce. When people search for products online, they usually choose from the first few results they see. 

This means if your business ranks high on these pages, you get more visitors and potential customers. Higher rankings increase your visibility and can lead to more sales. 

Therefore, knowing which keywords your competitors target helps you understand what drives traffic to their sites and how you can compete more effectively.

How do you identify these keywords? 

First, visit your competitor’s website. Look at their product descriptions, blog posts, and meta tags. Pay attention to words or phrases they frequently use. 

Next, use tools like Google Keyword Planner, SEMrush, or Ahrefs.

Enter your competitor’s website URL to see which keywords they rank for and how much traffic these keywords bring in. Additionally, manually check the SERPs. 

Type in keywords related to your products and see where your competitors appear. By understanding and using these keywords, you can improve your own website’s ranking, attract more customers, and increase your sales.

Track your competitors’ websites 

Tracking your competitor’s websites is crucial in conducting competitive analysis. This helps you understand what strategies they use and what works for them. 

By monitoring their websites, you can see their product offerings, pricing strategies, and promotional tactics. This information helps you stay informed about market trends and customer preferences.

Why is this important? 

Knowing what your competitors are doing lets you identify their strengths and weaknesses. You can learn from their successes and avoid their mistakes. 

For example, if a competitor’s new product is popular, you might consider offering something similar. If they have poor customer reviews, you can avoid those pitfalls in your own business.

To track competitor websites, visit their sites regularly and take notes on changes they make to their website. Use tools like SimilarWeb or Panoramata to get traffic data and other insights. Subscribe to their newsletters to see their marketing campaigns. 

This ongoing tracking helps you make informed decisions, stay competitive, and better serve your customers.

Identify their brand position through social media, press coverage, and website copy

Understanding your competitor's brand positioning is crucial in competitive analysis. It provides deep insights into how they position themselves in the market and how customers perceive them. 

By knowing their brand positioning, you can identify their unique selling propositions (USPs), strengths, and weaknesses. This knowledge helps you differentiate your own brand effectively and craft compelling marketing strategies that resonate with your target audience.

To understand your competitor's brand position through social media, press coverage, and website copy, begin by examining their social media profiles. 

Notice how they communicate their brand—what tone do they use in posts? What content resonates with their audience? Observing interactions and comments provides insights into how customers perceive them.

Next, review press coverage.

Look for news articles, interviews, or mentions in industry publications and mainstream media. These sources reveal their recent achievements, partnerships, or any issues they face, offering valuable insights into their market position.

Lastly, analyze their website content.

Study their homepage, product pages, and about sections. Note the language used to describe their brand, products, and unique selling points. Identify key keywords and benefits highlighted for customers.

Analyze their product catalog

Analyzing a competitor's product catalog is crucial in competitive analysis for e-commerce brands. It allows you to understand what products they offer, their features, pricing strategies, and how they position themselves in the market.

This information helps you identify gaps in their product offerings that you can potentially fill or areas where you can differentiate your products.

To effectively analyze a competitor's product catalog, e-commerce brands can ask themselves several key questions:

• What are the main product categories and subcategories offered by our competitors?
• How do their products compare in terms of quality, features, and pricing to ours?
• Are there any new or innovative products they have recently launched?
• What is their pricing strategy? Are they positioned as a premium brand, budget-friendly, or somewhere in between?
• How do they describe their products? What unique selling points (USPs) or benefits do they emphasize?
• How frequently do they update their product catalog, and how do they handle product variations or customization options?

After collecting this information, the next steps involve analyzing the data to identify competitive strengths and weaknesses.

E-commerce brands can use this analysis to refine their own product offerings, adjust pricing strategies if needed, and develop targeted marketing campaigns that highlight their unique advantages over competitors.

Read customer reviews

Reading your competitor's customer reviews is essential in competitive analysis for e-commerce businesses.

Customer reviews provide valuable insights into the strengths and weaknesses of your competitor's products and services directly from the perspective of their customers. 

By analyzing these reviews, you can understand what customers like or dislike about their experiences with competitors, which aspects of their products are praised or criticized, and how competitors respond to customer feedback.

To effectively track competitor reviews, start by using review aggregation tools like Google Reviews and industry-specific platforms.

Look beyond their website to social media and forums for a broader perspective. Focus on identifying recurring themes in customer feedback, such as common complaints or praises. 

Pay attention to how competitors respond to reviews, which reveals their customer service approach and responsiveness.

By comparing competitor reviews with your own customer feedback, you can benchmark your performance and uncover opportunities to enhance your products and customer experience.

Monitor their ads and email newsletters

By tracking their ads, you can see the discounts and promotions they offer that appeal to your target audience. You can also learn what advertising messages and strategies work well for them.

How can you find their email newsletters and ads? 

Sign up for their email newsletters on their website to receive updates directly. Follow them on social media platforms where they advertise to see their sponsored posts and promotions. 

Use tools like Panoramata to track their online ads across different platforms. 

By regularly monitoring these channels, you stay informed about their latest marketing campaigns and promotional offers.

This information helps you adjust your own marketing strategies accordingly. You can identify opportunities to offer competitive discounts or promotions, refine your advertising copy based on successful tactics, and ultimately attract more customers to your e-commerce business. 

Create a competitor analysis report

Next, organize your findings into a structured report. 

Start with an overview of each competitor, detailing their strengths, weaknesses, and market positioning. Include insights on their product offerings, pricing models, and unique selling points (USPs).

Highlight any trends or patterns you observe in their marketing tactics and customer feedback.

When analyzing this information, focus on identifying opportunities and threats in the market. 

Compare your own strengths and weaknesses against those of your competitors. Look for gaps in the market where competitors are underperforming or where customer needs aren't fully met.

To improve your marketing strategy based on your analysis, prioritize areas where you can differentiate and offer added value.

For example, if competitors are lacking in customer service but receive positive feedback on product quality, emphasize exceptional customer support as a USP. 

Adjust your pricing strategy based on competitive pricing analysis, ensuring it aligns with market expectations.

Regularly update your competitive analysis to stay informed about changes in the competitive landscape. Adapt your marketing tactics based on new data and emerging trends.

Mastering Competitor Tracking for Ecommerce Success

In mastering how to track e-commerce competitors, you've gained a powerful tool to navigate the competitive landscape with confidence. ‘

By understanding their strategies, products, and customer interactions, you're equipped to make informed decisions that propel your business forward. 

Remember, competitive analysis isn't just about keeping up—it's about seizing opportunities and setting your brand apart.

As you continue on this journey, stay vigilant in monitoring changes and adapting your strategies accordingly. Regularly update your competitive analysis to uncover new insights and refine your approach.

Embrace the opportunity to innovate and differentiate, using what you've learned to enhance your marketing, customer experience, and overall business growth.

With dedication and strategic insights, you're well-positioned to not only compete but thrive in the dynamic world of e-commerce.

Keep exploring, learning, and applying these practices to continually evolve and achieve greater success for your online business.

Frequently Asked Questions

Why is tracking e-commerce competitors important?

Tracking e-commerce competitors helps you stay informed about industry trends, pricing strategies, and marketing tactics. This information allows you to make data-driven decisions, improve your offerings, and stay ahead in the competitive market.

What tools can be used to track e-commerce competitors?

Tools like SEMrush, Ahrefs, BuzzSumo, Panoramata, and SimilarWeb can help you analyze competitors’ website traffic, keyword rankings, and online visibility. 

Additionally, social media monitoring tools like Hootsuite and Brandwatch can track competitors' social media activity and customer engagement.

How often should I review my competitors' activities?

Regularly reviewing competitors' activities is crucial for staying updated. A weekly or monthly review can help you quickly adapt to changes and capitalize on new opportunities. For deeper insights, quarterly in-depth analyses are recommended.