Some sites let you sign up to get alerts when prices change. Phone and face-to-face contacts will also give you an idea of the style of the company, the quality of their literature and the initial impressions they make on customers. It might also indicate a new distribution strategynew distribution partners, more extensive distribution, more intensive distribution, a change in geographical focus, or exclusive distribution.
Are they getting more publicity than you, perhaps through networking or sponsoring events? For more information, consult the Intellectual Property Toolkit.
If they are targeting a phrase, check whether they are ranking for it. In essence you want to create the most valuable resource about your niche so that when people need help Comparison of competitors product come to you.
However, your competitors are in the same niche as you, and their strategies should be of interest to you. Adam loves small businesses and he enjoys writing about online marketing both on the Digivate blog and as a guest writer for other blogs.
If you want to rank well in Google you need to have content that deserves to rank, but rather than trying to guess — do a quick search for a relevant phrase such as: Could it have been doctored? They help reinforce good traits, while also aid in helping eliminate weaknesses in a product or service.
It might also indicate a new pricing strategy such as penetrationprice discriminationprice skimmingproduct bundlingjoint product pricing, discounts, or loss leaders. Check their entries in directories and phone books. There always needs to be some movement with any business — be it improving an offering, scaling up operations, or diversification.
Try to innovate not imitate.
If you notice a competitor now not only sells traditional push bikes, but also electric bikes too. You have a finite number of customers, and only a small percentage of them are willing to put forward such opinions anyway. The local Chamber of Commerce.
These may be in their product range or service, marketing or distribution, even the way they recruit and retain employees.
Stay away from sites that make you download software or enter financial information to access the codes. Organisations and reference sources Your trade or professional association, if applicable. By doing this research, you will guarantee that when you write your content it will be better than what is currently out there.
Any phrases that your competition continue to target for several weeks are likely to be profitable for them and hence may be for you too. Your current offerings may still need improving and your competitors may also be assessing you.
It is a good idea to repeat this exercise regularly. You should always follow the links to more detailed information from the relevant government department or agency.
Some negative reviews may come from competitors. Does the brand have a reputation for good products and excellent customer service? Or have your competitors already found it to be unprofitable? Websites can give you good tips on what businesses around the globe are doing in your industry sector.
This may only reveal itself only after going through the research stage. Some firms hire competitor intelligence professionals to obtain this information. Read Reviews and Be Skeptical When considering a review, think about the source of the information: Do you want the top-of-the-line product?
Thanks for reading his post. This will at the very least put your brand out there to new markets and make them aware that they do have a choice when it comes to buying the type of product or service that you provide.
If no-one is targeting a phrase: Maybe You Should Too Business is in a constant state of change. Your competitors might not have rights over their actual ideas, but remember the rules on patents, copyright and design rights.Comparison table: One way to compare yourself head to head with your competitors is to create a comparison table calling out features, pricing, integrations, and customer support side by side.
Nothing sells your product like a big red “x” in your competitor’s column. Knowing who your competitors are, and what they are offering, can help you to make your products, services and marketing stand out.
It will enable you to set your prices competitively and help you to respond to rival marketing campaigns with your own initiatives. Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Check Comparison Shopping Sites These sites connect you to many retailers selling the same product, sometimes at significantly different prices. Compare your total purchase price, including shipping and handling, and taxes, rather than just the selling price.
If yes, proceed with an aggregate comparison. For example, a physician practice manager that works with multiple health insurers on a weekly, or even daily basis, would likely be comparing your performance to all other competitors when rating your brand. In this case, an aggregate comparison would be in order.
Your best hope in beating your competition is to differentiate your products and service from that of your competitors, and finding your own unique marketing methods and .Download