Competive Analytics: What should we do with inaccurate competitor data?
An article on TechCrunch this week “Compete Is In A Total Nosedive, According To Compete“, really got me thinking about the way I research competitors. I imagine that Compete would dispute their own numbers on Compete.com shown in this graph:
Every boss wants to know how much traffic a competitor is getting. A lot of people in my industry use Compete to research but, we usually double the traffic Compete shows. Quantcast and Comscore are used a lot by Advertising Agencies and they also do not align with actual traffic numbers. You could always ask a website you want to work with what their traffic numbers are but, don’t you automatically assume they are inflating there numbers by at least 20%?!
After much frustration with the lack of accurate competitive data, I have decided to focus on the trends on these public data websites. Is your traffic trending up for the last month? Is your competitor trending down? By focusing on the trends you will be able to see if you are moving in the right direction…