Step 1: Pick the right competitors
The single biggest source of bad content gap analyses is using the wrong competitor set. The right competitors are sites that compete with you on the same buyer journey for the same audience — not sites in your industry that target a different segment, not aspirational competitors much bigger than you, and not the obvious household names that have indistinguishable depth advantages.
Practical rule: pick 3–5 sites where, if you ranked above them on commercial queries, you would credibly capture the same buyers. For most B2B agencies that means peer-tier competitors with similar market positioning, not the giant sites that dominate the head terms.