Why should I track my competitor’s analytics?

When you get another site’s analytics, the data is loaded into a Google Analytics account for you. We don’t repackage it. That way, what you can learn is limitless.

Some managers would want to know which social channel is best for ticket pre-sales for a one-time event. Some might be curious about their competitor’s best converting landing page. Or what kind of lessons can you take from a big company’s loyalty program?

Not everyone has the same questions.

They could use a little nudge toward questions that uncover stronger findings.

“What should I look for anyway?”

Be curious. Don’t limit yourself to what you have gotten from past tools–including SpyFu.

Spying on another site’s analytics is exciting and feels impossible. It’s within reach, and the best lessons go beyond just “knowing” what is happening. Instead, look for information that you can act on. You can build and tweak your own strategy when you ask questions like these:

All of these are answerable when you view their site’s analytics through Nacho Analytics.

What is my competitor’s conversion rate?

If their conversion rate outperforms yours, look for clues on their landing page. Look at pricing and specific calls to action. What stands out from what you do?

What is my competitor’s abandonment rate?

If you spot a page with a high abandonment rate, look for opportunity. What are they *not* answering? Can you fill that gap with content of your own?

On a larger scale, that could tell you more about the kind of landing page that people in your industry want to interact with.

How fast is my competitor building their list?

Sign-ups for email lists are one step closer to a conversion. This could be a good practice for you to try, too. If a company is growing their list quickly, trace your steps backwards. Ask what people get in exchange for the sign-up:

Why did they sign up? Is it for a white paper? Is the site “throttled” with a pop-up until you give an email address?

The second step after tracing that is to see how well those emails perform for them. By tracking that channel’s conversions, you can get an overall sense of how important their sign-up funnel really is.

That maps out their funnel like an instruction sheet that you can improve on.

What are my competitor’s best selling products?

Our advice isn’t just to replicate their best seller. Odds are that you have something similar in place. Look for their offer strategy.

Are 3 things offered, and this one stands out? The big takeaway lies in the strategy itself. Movie theaters price a small popcorn so high that it only makes sense to pay the extra dollar for a medium or large. Your competitor’s top selling item might reveal an offer strategy that works well in this space. You could mimic a setup with your own products.

What do my competitor’s customers search for?

You have at least two approaches here.

One way to leverage customer search is much like the SEO keywords question: what brought them to the site?

This is where a tool like SpyFu excels.

You can learn what people are searching when they find your competitor’s site.

SpyFu helps you see what Google considers your competitor to be an authority on AND what customers want to solve.

Nacho Analytics picks up from there.

Once you click through to their analytics, you see keywords (including the locked, “not provided” searches) that customers were searching before actually clicking through to the site.

The second way to leverage customer search is to view the on-page site search data.

When someone is searching on a site, it’s often because they can’t find what they need. That can be a gap in the content (or product) that you can fill, or it’s a navigation issue you can learn from.

What channels does my competitor do really well in? Badly in?

Imagine that you signed up for their emails. You liked their Facebook page. You read their articles. That keeps you on top of your competitor’s messaging, right?

Not if their best engagement comes from Twitter.

We learned that AirBnb drives significant refer-a-friend traffic through a secondary call-to-action on their emails. We would have missed that business-building gem of info if not for a closer look at where traffic was coming from.

It helps to look at their traffic patterns regularly. Things change. Patterns shift.

Even a poor-performing channel might be prime for you to swoop in and test it if you’ve got the chops to take it on.