Competitor research is the next step to take after you have analyzed your competitors. Once you have an idea about how your competitors are doing and what they are doing, you can start to prepare your strategy for their opposition. The following article will give you some insight on competitor research, and I will go over some of the key elements that you need to focus on when doing this research.
Firstly, you need to gather a lot of information about your competitors. They are obviously not going to want to be named publicly, so they are going to be less likely to give up any of their secrets. You can usually get this information from their websites. Sometimes you can even find out by looking at the companies that they are purchasing from.
Using search engines is a good place to start looking for information about competitors. Be sure to look at what keywords are being used to find information on websites. Some companies will even share their private information with other companies, to make it easier for them to get to customers. You need to find the sites that they are contacting and find out how well those sites rank in Google.
When looking at competitors, remember that your website is going to be different from theirs. It should be unique and stand out. If you are using their competitors’ information on your site, you are wasting your time and the time of your customers.
Competitor research should be focused on customer service. Research this, and don’t just stick to your website. Look at the company that your competitors are buying from and if there is anything wrong with the service they are giving.
The information that you gather should be very detailed and you should investigate your competition based on their market size, their geographical location, and the competition that they are currently facing. Always use as much intelligence as you can from competitors. Don’t just concentrate on their strengths and weaknesses. Look for areas where they could do better.
You should use your competitor research to create a comprehensive report about your competitor’s strengths and weaknesses. Make it look similar to your own, but updated to match the market today. Focus on areas where your competitor is doing well, and where they could do better. These areas include customer service, their customer base, their competition, their pricing structure, and their product lines.
Next, you need to develop a long term goal and a detailed plan for doing so. You need to have a strategic plan for success, but you need to build a short term plan for getting there. Don’t forget to look at the medium term as well, as the medium term will dictate the direction you take.
One way to get some solid competitive intelligence on your competitors is to analyze the ranking you are receiving on search engines for certain keywords. You can sometimes find out by just doing a simple keyword search and finding out what pops up. If you’re spending too much time on a particular keyword, try searching for something else. A quick switch to another keyword might give you something useful to help you move up the rankings.
Another way to gather some competitor information is to check your current competition. You can do this by going to Google and entering the phrase “current competition” into the search bar. Most likely you will get some information about some of the popular and not so popular websites in your industry. Start there and if you find a popular website that you have a shot at, look for their competitors and try to build a competitive team up.
You should also use your competitor research to make sure that your website is the best. If you aren’t, then consider adding a new page or two to your website. Always make sure that your new pages are searchable and that the rest of your website is well ranked.
Overall, using competitor research is very important for many reasons. You need to be sure that you have the best information and that you can make informed decisions.