Marketers Toolbox: SimilarWeb
What is SimilarWeb?
SimilarWeb is a marketing intelligence solution tool that assists with competitive analysis.
Why is this tool helpful?
This tool analyzes areas of competitors online marketing strategies to find opportunities, uncover weaknesses, and gain insights for the user.
How is it used?
Tap into the experience competitors are providing their consumers by seeing the All Visits report. This provides access to estimated traffic data from the last 6 months including engagement like bounce rates and time on site. SimilarWeb analyzes where competitors are getting their traffic - direct, referrals, search, social, mail, or display - as well as which websites are referring the most traffic.
Organic and paid keywords are provided to determine which phrases are gaining the most impressions and which words competitors see enough value to purchase. A report is provided on the competitor’s social use. This gives the user an idea of what the competitor is posting, when, and what is “working” with the target audience.
Though the reviews state that SimilarWeb provides instant access and analytical depth of competitors, some users think the tool would benefit from integrating with Google Analytics for even more accurate analytical results.
Who would benefit from using SimilarWeb?
Agencies can use the insights from the reports to gain leads, influence marketing strategies, and be proactive with data-driven decisions.
Marketers can use the information to influence marketing campaigns, track and grow their digital market share, create well-informed strategies across channels, in addition to finding and growing target audiences.
Analysts benefit from SimliarWeb because it is an easy and useful method to measure the statistics and market share of any website or app. The tool also identifies market industry trends, new competitors, and marketing and automation strategies.
Business Development people may gain potential partners from the competitor and industry insights. SimilarWeb’s competitive analysis tool helps the user analyze and improve their own pitch process. Biz dev people can prioritize and modify leads based on the analysis reports as well.
Free use has three offers: 5 results per metric, 1 month of mobile app data, and 3 months of web traffic data.
Premium has all the features listed in the picture. The price is $199/month with a demo available but no trial.
Some reviews state a dislike for the price because it is a lot to pay if the user works in a smaller company. However, the benefits to analyzing the competitor's actions inform PPC campaigns and keyword use - making the hefty price worth it.