How to conduct a competitor analysis for your news website

You know what they say: Keep your friends close and your competitors closer (but not in a creepy way). Conducting a competitor analysis isn’t about copying what others are doing; it’s about learning from their successes, avoiding their mistakes, and finding your own unique edge in the market. If you’re a magazine or news website publisher, understanding the landscape can be the key to thriving in an increasingly competitive space. Let’s dig into how to conduct a competitor analysis with a dash of humour and a heap of actionable tips.

Step 1: Identify Your Competitors (The Usual Suspects)

Start by figuring out who you’re up against. Spoiler alert: it’s not just other news websites.

• Direct Competitors: These are sites publishing similar content for the same audience. Think of them as your frenemies.
• Indirect Competitors: Blogs, influencers, or niche platforms that overlap with your topics. They might not be traditional publishers, but they’re competing for the same eyeballs.
• Platforms: Social media giants and aggregators like Twitter and Flipboard. They’re where your audience hangs out when they’re not on your site.

Step 2: Examine Their Content Strategy

Peek under the hood of your competitors’ editorial calendars to see what’s driving their success.

• Content Types: Are they big on breaking news, long-form features, or listicles that make you groan but can’t help but click?
• Frequency: How often are they publishing? Are they inundating their readers with hourly updates or focusing on quality over quantity?
• Topics: What subjects get the most attention? Do they have niche areas you’ve overlooked?
• Visuals: Are they using videos, infographics, or high-quality images to make their content pop?
• Engagement: Check out their comment sections or social shares. What content gets readers talking?

Step 3: Analyse Their Website Performance

If content is the heart of your competitor’s strategy, their website is the nervous system that keeps it all running.

• User Experience: Is their site easy to navigate? Are readers bombarded with pop-ups or treated to a seamless browsing experience?
• Loading Speed: Slow sites are like queues at the post office—no one has the patience. Use tools like Google PageSpeed Insights to see how they’re doing.
• Mobile Optimisation: In a world where most readers are on their phones, mobile-friendly design isn’t optional.
• SEO: Analyse their search rankings using tools like Ahrefs or SEMrush. Which keywords are they ranking for, and where could you steal a march?

Step 4: Check Out Their Monetisation Methods

At the end of the day, it’s all about the revenue. See how your competitors are making their money.

• Paywalls and Subscriptions: Are they charging readers for access? If so, how is their pricing structured?
• Ads: Look at the type and placement of advertisements. Are they tasteful or overwhelming?
• Affiliate Links: Are they monetising product recommendations or reviews?
• Events or Merchandise: Do they offer branded swag, tickets to conferences, or other creative revenue streams?

Step 5: Spy on Their Social Media Game (Legally, Of Course)

Social media is where much of the action happens. Take notes on how your competitors are showing up online.

• Platforms: Are they active on Instagram, LinkedIn, TikTok, or all of the above?
• Content Types: Are they posting snappy videos, carousel posts, or witty one-liners?
• Engagement: How many likes, comments, and shares are they getting? What types of posts perform best?
• Influencer Partnerships: Are they teaming up with key voices in your industry to broaden their reach?

Step 6: Conduct a SWOT Analysis

Now it’s time to distil all that research into actionable insights. Use the tried-and-true SWOT method:

• Strengths: What are your competitors doing well that you could emulate?
• Weaknesses: Where are they falling short, and how can you do better?
• Opportunities: Are there gaps in the market that they’re not filling?
• Threats: What challenges do they pose to your growth?

Step 7: Use the Data to Refine Your Strategy

All the competitor analysis in the world won’t help if you don’t act on it. Here’s how to put your findings to good use:

• Content: Double down on your strengths while addressing any gaps exposed by your analysis.
• User Experience: If your competitors are offering a smoother experience, it’s time to up your game.
• Monetisation: Explore new revenue streams inspired by what’s working for others.
• Brand Positioning: Use your unique voice and perspective to differentiate yourself from the crowd.

Final Thoughts

Conducting a competitor analysis might sound like spying, but it’s really just good business sense. By learning from what others in your industry are doing—both the good and the bad—you can refine your strategy, better serve your audience, and stay one step ahead. So grab your magnifying glass (metaphorically, of course), and start investigating. Your next big breakthrough could be hiding in plain sight!