We all know that the goal of SEO is to get to the top of Google’s search results so you focus on optimizing your website as much as you can. But what people tend to look at times is that before you get to the top, you need to fight against 10 or more other websites who are also trying to fight for the same keyword you are targeting.
Competitor Analysis is a great way of finding strategies your competitors use and then you use it against them or better yet, create better strategies than those. There are two situations here. First, you are trying to get higher rankings so you are studying your competitors to find out what works for them. And second, you are at the top and you would like to increase your lead from your competitors.
Whatever your situation is, doing a competitor analysis can definitely help you improve your existing strategies and give your competitors headaches.