How to Evaluate Fintech Competitor Websites

Many business owners see a competitor’s website and think,“I want mine to look like that!”But before you rush to copy what looks like a successful site, it’s important todig deeper. Not all websites that look good actually drive business. In this article, I’ll walk you throughhow to conduct a competitor website analysisand see if it’s truly helping them generate revenue.

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Step 1: Conduct a Competitor Website Traffic Analysis

The first thing to consider when you evaluate competitor websites is if the website isactually bringing in traffic that converts. A great-looking site doesn’t mean much if no one is visiting it. You can use tools likeAhrefsto see key data such as:

Domain Authority: This shows how well the website ranks on search engines.
Keyword Rankings: Are they ranking for keywords that matter? Look at whether their top-performing keywords are branded or non-branded.
Traffic Volume: Your evaluation should include a competitor website traffic analysis. Check if the site is attracting enough visitors to make a real impact on revenue.

Iftraffic numbers are low, that’s a red flag. Even a few thousand visitors a month might not be enough to make a significant impact on the company’s bottom line, especially if conversion rates are low.

Step 2: Conduct Competitor Keyword Research

Keywordsare a good indicator of how well a website is performing. When you conduct competitor keyword research, gauge If most of the traffic comes frombranded keywords(like the company’s name), it’s likely that people visiting the site already know about the company. Companies need to rank fornon-branded, high-intent keywordsthat potential customers are searching for.

For example, acommercial real estate lending websiteshould rank for keywords like “commercial real estate loans” or “multifamily loans,” not just their company name. If their site isn’t ranking forrelevant, high-traffic keywords, they’re probably not bringing in new business directly from the web.

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Step 3: Evaluate the Business Model

Even if a competitor’s website looks great, it might not be themain driver of their business. It’s important to understand their business model. Some companies use their website mainly as abranding tool, while others rely more onpartnerships and offline strategiesto generate leads.

One way to assess this is by looking at their team onLinkedIn. If they don’t have in-house marketers, content creators, or SEO experts, it’s a sign that they’re not focusing on driving direct business through their website. Instead, they may depend onoutbound salesorpartner networksto grow.

Key Takeaways

When conducting a competitor website analysis, don’t be fooled by a polished design. A good-looking site doesn’t always mean it’s driving revenue. Focus on these key areas:

Traffic: Is the site attracting enough visitors, especially from non-branded searches?
Conversions: Is the site set up to convert visitors into leads or customers?
Business Model: Understand whether the competitor’s business model relies on their website or other strategies like partnerships.

Bydiving deeper, you’ll be able to make smarter decisions for your website and create a strategy thatactually drives growth.