No matter what business you are in, you should analyze your competitors; otherwise, you’re putting your company at risk of falling behind. So first, know your direct competition. Conduct filtered web searches to determine this information. Next, look at the demographics of their target audience. Also, find their Google ranking. Why are they higher than you? If you’re not using a long-tail strategy for your content creation, you should start. Ecommerce sites often utilize this strategy to increase their hits. Analyze your competitor’s content and ask what they have that you don’t and why. Do they have a blog? What does their social media presence look like? After doing exhaustive research, look at what areas of your business you can improve.
Key Takeaways:
- No matter what business you happen to be in, it is imperative that you critically analyze your competition.
- Conduct a filtered web search or use a service like SimilarWeb to identify your direct competitors in the marketplace.
- Based on your analysis of your competitors, what do they excel at and what could you being doing better?
“Knowing your competitors may sound obvious to you, but you’d be surprised how many people I meet can’t name their competitors.”
Read more: https://www.quicksprout.com/2017/11/15/how-to-increase-profits-by-analyzing-your-competition/
