274: How to Conduct a Quick Competitor Analysis for Free

When it comes to marketing your business, you do need to look at what the competition is doing that is both working well and what you feel you can do better. Conducting a full Competitor Analysis is both a time-consuming and expensive process, but there are ways you can gain invaluable insights for free, using a couple of online tools.

The first tool I want you to look at is SimilarWeb. This is a paid tool but you can set up a free trial which will give you some important insights into you and your competitors’ online presence. You can also use tools like Semrush and a few others, but some ask for your card details upfront, SimilarWeb does not.

Another tool I recommend is Facebook’s Ad Library. This is a relatively unknown tool that allows you to look at ads that are currently live from any Facebook and Instagram account across the world. This means you can look at your competitors’ ads, see what creative and offers they have currently running, and see how that compares with your own marketing strategies.

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