Step 8. Compare your performance to the competition
By now you have made a preliminary assessment of the market. Now you need to better understand your competitors and compare your performance to find marketing opportunities. You can do this in three steps with the help of SEMrush Traffic Analytics :
Compare your website performance to your competitors in your local region.
Make sure you have stability in your region. If things aren't looking good at home, then spend some and adjusting your strategy before entering a new territory.
2. Compare the performance of your national competitors in your target region.
Find out what strategies they might have executed to enter 1000 mobile database the market. And take note of the tactics they employed to do so. There is always something to learn from previous market movements and you may not need to reinvent the wheel.
3. Compare your domestic competitors’ traffic volumes to businesses in your new target region.
Compare traffic dynamics across countries and analyze differences in online behavior in each region. Look for patterns based on the season or current events to get a better idea of how to compete in this market.
Compare the traffic dynamics in new markets
Step 9. Complete the market evaluation decision matrix
Expanding into a new market obviously requires a lot of research to develop a solid plan. Fortunately, you can organize all of this research in one place with our Market Assessment Decision Matrix . You can copy the spreadsheet to your Google Drive and then fill out the table with all of the data you’ve collected.