The potential of competitive analysis or intelligence can never be ignored, regardless of the industry or niche your business belongs to. Even when it comes to developing a SEO strategy that will help you beat out the competition and get ahead in the race of SERPs, conducting competitive keyword analysis could immediately create a win-win situation for your business growth.

But, the fact is, there are very few webmasters or SEO professionals that pay adequate attention to this essential process. And that’s exactly the reason why most of theSEO campaigns yield little or no results at all. Doing competitive keyword analysis is crucial if you plan to stay relevant, be competitive and generate more revenue in the long term. Of course, the process requires a good investment of time and money but it’s certainly worth the effort.

Given below are four important tips that you should follow to keep yourself on the right track and get the maximum out of a competitive keyword analysis.

Keyword Analysis

#1. Know Your Key Competitors
The very first step is to track those companies or businesses that you’re competing against. You may think that you know a few of them already, but that may not be all that you need to know. If you conduct some extensive research, you’ll come to learn that there are many other competitors who you may not be aware of yet. Though you can get started with the major search engines like Google, Yahoo and Bing in the first place, there are also several tools that you can use to look for the key competitors in your niche.

Once you have the entire list of companies you’re in competition with ready, you can narrow it down further to focus on the most important of the lot. Appropriate research in this direction might just prove to be an eye-opener for you.

#2. Find Out What They’re Doing
Next, you should prepare yourself to dig a little deeper. Once you have the list of your key competitors with you, it’s time to know more about them and the keywords they’re using. Check out their company websites, blogs, product pages, category pages etc. Take a microscopic look at the keywords they’re using and how they’re using them. By closely analyzing the keywords that your competitions are using, you might come up with many new keywords.

As you learn about new keyword opportunities, find out whether those keywords are actually relevant to your products or services. Keep those that relate to your business really well while filtering out those that you’re sure won’t benefit you much or won’t attract profitable clicks.

#3. Use a Keyword Tool (and Explore)
Of course, you won’t find out about the real potential of various keywords on your own. Choose a free or a paid keyword tool and conduct an in-depth research to know more about the keywords that you’ve discovered by researching your key competitors. Take a look at the level of competition and the volume of global/ local monthly searches for each group of keywords you’ve found.

#4. Choose the Best Keywords
Finally, it’s time to select the best keywords that you’ll use to launch a new SEO campaign or boost an existing one. The keyword choices should be made depending on the nature and the current search engine status of your website. If your website, for example, is commercial, you should go for those keywords that have the most commercial intent (as opposed to those keywords that have an informational intent). It’s also advisable to go for those keywords that have a high search volume but less competition.

Key Takeaway
Selecting the best keywords to improve the SEO of your website or blog is not what’s more difficult. What’s actually difficult or consumes the most time is the compilation of the data that ultimately helps you make that final decision about the keywords that will deliver you the best results.