If you’re a business owner, you will understand the threat of the competition. They will be trying to best your efforts at every turn, and in so doing, they could steal your customers away from you. The rotters! Of course, it’s nothing personal. Like you, your rivals are trying to stay afloat in the business world, so they can’t be blamed for trying to surpass your efforts.
But are you going to sit back and do nothing about the threat they pose to your business? Of course not! You’re going to do what you can to stand out in business, and your first step to doing this is to commit to competitor research. The more you can do to find out about your rivals the better, as you will then have an idea of the kinds of things you need to do to better them.
With this in mind then, here are some ideas we hope you find useful.
#1: Check your competitors’ websites
This is the easiest thing to do so Google search businesses like yours. Then take a look at each website you find and compare their products and services to your own. Are they doing more to appeal to their potential customers? Are their products and services better than what you are selling? If so, consider where changes need to be made and act accordingly.
Then consider the websites you look at. How good are they to look at? How easy are they to navigate? What features do they include? Look at such variables and compare their websites to your own. Does your website compare favorably or do changes need to be made? If you need to improve your business website, then do so, as to beat your rivals, you need to create a better first impression with your online presence.
#2: Find out about their SEO rankings
Your business will be under threat if your competitors are ranking higher than you on Google, so try to understand more about their SEO strategy. You can do this by entering their business into a SERP API, such as Google Search, as you will then find out where your rivals are on the search page. Make a note of the keywords they have used if they are ranking higher than you, taking note of their meta descriptions and page titles, as well as their on-page copy. Then make changes to your website if you feel you need to or outsource your SEO to a specialist agency.
#3: Check business review sites
What do people think about your business rivals? It’s easy to find out as you can check online review sites, such as Yelp, Google My Business, and Yellowpages. By using business review sites such a these, you will find out how satisfied people are with your rivals, and you will be able to compare the reviews your business gets with theirs. If you’re getting better reviews than they are, then great! But if not, get a sense of why people are writing good reviews about your rivals, and then take all the steps needed to better them.
Finally
When you commit to competitor research, you will be in a better position to improve your business. You will then be able to stand out online, with a better website, a higher position on search engines, and greater acclaim on review sites. So, consider our suggestions and then research other ways on how to understand more about your nearest business rivals.
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Competitor analysis is needed when you take on something new and do not know how to approach it. We started promoting in social networks, creating a new website, expanding the assortment – first, see how your competitors have already done it. You can prevent their mistakes and do better. Also, don’t forget about mobile marketing, which can impact on consumer brand interactions.
Thank you very much, I think it’s a great idea to get something similar for your business. Competitor analysis can be very useful for many things, for example, when you want to build your website, it can show good trends in your market.
Thank you, I think this is an important step before starting almost any business. I think you should research everything, the ad campaigns as well as the website, their content marketing, and trusting online reviews, which can say a lot.
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