The business of SEO is business. It is unarguably, a result oriented task. Moreover, the metrics- rank, traffic, or conversions- to measure the SEO’s performance forms a large part of the focus of the SEO professional. That being said, the SEO professionals are increasingly counting on the tactics like link building, on-page optimization and content creation that will peddle up their results. Focusing on tactics that produce results makes sense, but spending time in understanding and tracking trends in the competitive landscape, when done right, will have a positive impact on the aforesaid metrics. These steps will guide you how to go about it :-
A useful tip: Whatever results you receive in the process, try to compete but never copy.