When it comes to effectively marketing your business, it always helps to know what your competitors are doing. Keeping an eye on the competition helps you in many different ways. You can find out what keywords they are using, you can discover who their audience is, you can learn about how they’ve positioned their products, you can get inspiration for copy and web design, and you can identify their weaknesses and do things smarter, bigger and better than them to ensure your business stays ahead.
So when you are doing competition research, what sort of things should you focus on to make the best use of your time and gain real insight into the competition? Here are some things to try:
Keyword ranking analysis
See what kinds of keywords your competitors are ranking for. If you aren’t ranking for them it may be time to do an overhaul of your website and make sure that you do in the future to stay in the game.
See what kinds of content your competitors are putting out there to attract more customers. Look at the keyword focus of each blog too. This will help you understand what your competitors are trying to rank for.
Sign up to receive your competitor's newsletters so you gain a better understanding of what’s going on in their business, what projects they have going forward, and any announcements that might be interesting or relevant to you.
Sales and offers
By keeping abreast of the sales and offers that your competitors have you can pace sure that you remain, well, competitive. If they are hosting a big sale on one of your product lines, you may wish to consider doing the same, otherwise, it will be difficult to persuade customers to choose yours over theirs.
You should also conduct social listening to see what people are saying about your own brand and that of your competition. Brand reputation can be so important, especially when it comes to fostering company loyalty, so take the time to listen out for mentions of your competitor's brand to understand why people like or dislike what they are doing.
By routinely carrying out through competition research you can ensure that your business is always one step ahead in the game and can make your offering more appealing to your target market.
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