With so many channels available for people to find your site or brand (e.g, search, display ads, social, etc.), you just can't throw money at the wall and hope what you're doing is sticking, especially today. Sure, you can (and should) continue to experiment, but you have to figure out where the bulk of your traffic actually comes from and tactfully measure ROI. Doing so correctly will provide actionable insights that support where you should invest, re-invest, what has the best odds of working, and which channels you need to continue monitoring.
The same applies when scoping your competitors. To do that, you need a trusted standard and SimilarWeb is about as good as it gets.
Market intelligence: helping you understand the digital world
SimilarWeb is a Tel-Aviv-based market intelligence solution designed to provide customers with insights to help them deeply understand, track, and increase their market share. Whether you're a small to mid-sized business, agency, marketer, or analyst, SimilarWeb's insights give visibility into:
- Benchmarking competitor performance
- Reveal competitors online strategies
- Discover opportunities you aren't leveraging today
- Identify emerging trends (cross-channel)
- Understand consumer intend and journey
Unsurprisingly, access to this information is paramount to business success, but all too often the information businesses have access to is either too inaccurate or too insular. At least that is the assumption that SimilarWeb is operating under. They provide a SaaS solution that gives businesses like Airbnb, eBay, CNN, Comcast, and thousands of other customers access to a transparent view of what is happening in the digital world. The company measures digital behavior online and in mobile apps and can track a variety of key metrics that they claim can help companies drive improved decision making and even reveal the digital strategies of competitors.
SimilarWeb offers a range of other tools, as well. For example, you can really get custom with their APIs which provides:
- Web metrics (rank, reach, and engagement)
- Categorical insights (similar sites, site categorization & rank, and 'also visited')
- Traffic sources (social, search, referral, keyword, and destination)
- Mobile metrics (app details, Google Play installs, and related apps)
They also provide a Chrome browser extension which quickly allows you to scope a competitor without leaving the page -- it's my personal 'go to'.
Thanks largely to the comprehensiveness of their suite, SimilarWeb raised $47 million in its latest Series F round (led by Viola Growth), bringing the total amount of funding to $112.2 million.
The other half of the success story and the industry's future
SimilarWeb is as invested in good leadership as they are a well-rounded solution. The company was just ranked #7 on the Dun & Bradstreet 100 for best high-tech companies to work for.
"We're witnessing a revolution in the way businesses make decisions and the impact is already being felt. Market research is a $68 billion industry and it is being fundamentally changed by the rise of Market Intelligence," said Or Offer, CEO of SimilarWeb.
"In the past you hoped that the opinions of a small room of people were representative of entire populations. Today, Market Intelligence replaces that small room of fleeting opinions with billions of data points of actual behavior. From investors to marketers to strategists and more, access to these insights is becoming an absolute must have for any business looking to win market share."
Look, there are a variety of market intelligence solutions out there and you need to find the one that best works for you. However, the need is only increasing as the consumer continues to evolve and as brands, small and large, try to become more agile in how they adapt to that evolution.
In today's digitally modern ecosystem, you can't afford to not look at your data through this type of lens -- this isn't something you want to play catch up with. So it's simple...don't.