Why Competitor Keyword Analysis is Crucial for Small Businesses

Imagine this: you’ve got a tight marketing budget and big goals to grow, but you’re competing in a crowded digital space. How do you stand out in search engine results? The secret lies in understanding how your competitors are using keywords. Competitor keyword analysis shows you what’s working for them, where new opportunities are waiting, and helps you craft content that’ll grab attention and drive clicks.

SEO these days isn’t just something that helps you grow. It’s tied right to your revenue. Think about it: over 78% of consumers start their purchase journey online, and more than 68.7% of clicks go to the top three search results. If you’re not optimizing your keywords while your competitors are, you’re losing out not just on visibility, but on sales too. (synchrony.com, firstpagesage.com)

This guide is perfect for small business owners or marketers looking for actionable steps to do fast yet impactful keyword research using AI and affordable tools. Want to grow strategically and edge out your competition? Let’s dive in.

TL;DR Checklist

• Pinpoint who your online competitors are, both direct and indirect.
• Use free and advanced tools to uncover competitor keywords.
• Find high-performing and long-tail keywords for better insight.
• Identify keyword gaps and untapped opportunities in your industry.
• Create content strategies based on a mix of competitive and unique keywords.
• Keep up with trends and adjust strategies using analytics.
• Use AI tools to make keyword research fast and accurate.

By the end of this guide, you’ll have the know-how to outshine your competitors in search rankings and fuel growth with data-driven strategies.

The Essential Tools for Efficient Competitor Keyword Analysis

Free and Budget-Friendly Tools for Small Businesses

For those on a budget, there are tools out there that get the job done without costing a dime, or close to it. Options like Google Keyword Planner or Fullsend help you understand search volumes, come up with keyword ideas, and peek into basic competitor insights.

A key advantage of using Fullsend (yes, we’re proudly biased!) is that, beyond tracking competitor keywords, it also uncovers new keyword opportunities for you automatically. So you’ll never have to dig for them yourself.

Learn why keyword research is essential for small businesses.

Advanced Platforms and Their Powerful Features

If you’ve got some money to spend, tools like Semrush, Ahrefs, and Moz offer powerful features to track competitor keywords in-depth. You’ll get access to things like keyword rankings, backlinks tied to specific content, keyword difficulty scores, and more. These insights help you build a smart, clear plan that puts your business ahead of the curve.

How to Choose the Right Tool for Your Goals

Just starting out? Stick with free or cheap tools to get a feel for keyword analysis. As your strategy evolves, consider advanced platforms with features that fit your growth plans, such as detailed reporting and scalability.

Step 1: Identify Competitors to Focus Your Analysis

Simple Methods to Find Your Competitors Online

Finding competitors is simpler than you may think. Start with Google Search, type in the keywords you’re targeting and see who consistently pops up in the rankings. Tools like SimilarWeb can also help by giving you a snapshot of competitor rankings and web traffic. And here’s a tip: check out industry directories such as G2 or Capterra, or niche-specific marketplaces for even more competitor names.

Why It’s Important to Focus on Direct and Indirect Competitors

You’ve got to focus on two kinds of competitors: direct and indirect ones. Direct competitors offer the same product or service, while indirect competitors target similar audiences with slightly different offerings. Say you run a vegan bakery, for example. Your direct competitors are other bakeries, but indirect competitors could include food bloggers, recipe websites, or even health food stores. Both give you valuable keyword data to act on.

Step 2: Gather and Analyze Your Competitors’ Keywords

How to Locate Top-Ranking Keywords for Competitors

Using tools like Fullsend, Semrush or Ahrefs, you can pull up a list of keywords driving traffic to your competitors’ sites. These tools show you what they’re ranking for and what you may have missed.

Evaluating High-Performing vs. Long-Tail Keywords

High-performing keywords bring traffic, but they can also be super competitive so you always want to focus on keywords with high search volume and Low SEO difficulty, otherwise you run the risk of ranking in 10th or more position, which will not bring you any traffic as mentioned earlier in the article. For example in the table above, "seo v sem" might be a good keyword to target because it has good volume and SEO difficulty is on the lower side.

Another approach is to focus on long-tail keywords, which are specific phrases with lower search volume but higher intent. Think “vegan chocolate cake in Brooklyn.” Long-tails draw in people who know what they want and are more likely to convert. These are especially good for local businesses but they also work for online businesses.

Step 3: Compare Keyword Performance to Spot Opportunities

How to Analyze Keyword Gaps in Your Strategy

A keyword gap is when competitors rank for valuable terms, and you don’t. As an example in the table above, we can see that Writesonic and Jasper are ranking 5th and 6th for the "bio myself" keyword, which has a high search volume per month (60,500) and low SEO difficulty. However, the Rank column is empty, which means that Fullsend is not ranking for it. This data tells us that we have an opportunity to rank well with an article helping people to write their bio.

Use tools like Fullsend's Competitor Keywords table or Semrush’s Keyword Gap Analyzer to see where you’re falling behind and plan ways to close the gap.

Finding Untapped Keywords Competitors Aren’t Targeting

Dig into niche topics or quirky phrases that competitors might have missed. With AI-powered options like ChatGPT keyword tools or keyword-based searches in Fullsend, you can uncover golden keywords others are ignoring.

Step 4: Refine Your Content Strategy Using Keyword Insights

Developing Content Around Competitive and Unique Keywords

Take your refined keyword list and follow these steps to build a winning content marketing strategy. Whether it’s blog posts, how-to videos, or FAQs, make sure your content directly addresses your audience’s problems. Actionable content always ranks better.

Optimizing Your Website for Better Search Rankings

Work these top keywords into meta titles, headers, and the text on your site. And hey, don’t forget to also make sure your site’s lightning-fast and mobile-friendly. Google loves that stuff.

If you don't love manual work, Fullsend offers a good alternative here as well: simply create a Content Plan where you specify your goals. It will then do all the keyword research and analysis in the background for you, and leverage it for content suggestions. Once you are happy with a suggestion, you can just generate it in one click and it will naturally include all the keywords in your article and meta tags.

To help with this step, you can also review our step-by-step guide to preparing your content for AI-driven platforms.

Step 5: Track Your Progress and Keep an Eye on the Competition

Regular Monitoring for New Competitor Trends

SEO moves fast. Last week’s strategy might not work tomorrow, so keep watching your competitors’ rising keywords and trends. You can also sign up for their newsletters for some insider insight.

Adjusting Strategies Based on Performance Analytics

Check if your keywords are driving traffic and clicks using tools like Google Analytics or Google Search Console. If you’re not getting the results you want, don’t stress, just tweak your approach.

Pro Tips to Maximize Your Competitor Keyword Research Efforts

• Stay on top of industry trends with Google Trends or Semrush’s Trends Explorer.
• Use AI tools like ChatGPT Keyword Extender to brainstorm related terms, synonyms, and content ideas quickly.
• Set up templates to track competitor keyword performance on a regular schedule. Monthly or quarterly works great.

To dive deeper, explore The Blueprint for crafting a great content marketing strategy.

Conclusion: Take Action Now to Outrank Your Competitors

Today, winning in the digital world is all about taking action with the right information. Here’s what to remember:

1. Look at direct and indirect competitors to get the full picture.
2. Use AI tools to save time and find killer keywords.
3. Create content with a perfect mix of competitive and original keywords.
4. Keep an eye on trends so you can tweak and improve along the way.

Small businesses taking charge? They’re the ones crushing it in search rankings and driving long-term success.

Ready to save time, find untapped opportunities, and grow your business strategically? Try Fullsend for free today!