What You Should Know About Your Competitors?
Anonymous
Asked: 2021-10-08T10:22:21+05:30
2021-10-08T10:22:21+05:30In: Business
What You Should Know About Your Competitors?
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The Internet is a great place to get information about your competitors. How are you competing with them? Are they selling more than you are? Do they have better reviews on their products compared to yours? These are some of the questions, which may arise in your mind when you want to know more about your competitors. Here I will give an insight into the various factors that could help you find out all this information about your competitors.
The first step is to look for the links from your competitors’ websites. If they have a link to you, that indicates that they recognize your site as a competitor website and vice versa. However, this does not necessarily mean that both of you are competing with each other in all niches. The next step would be to know what kind of pages their links point to. The pages having similarities such as products or services offered should be treated as competition. The product comparison chart can also give an indication about how direct the competition is between you and them.
Now, it’s time to find out who owns these websites so that you can get details about other sites run by same owner or company. You could use tools like Facebook and LinkedIn to find out the ownership of your competitor websites. The next step is to find out how popular are they on social media sites, especially Facebook and Twitter. These two sites could reveal a lot about what others think and feel about these websites and their products/services. There are various tools like Social Mention available that helps you get complete data regarding any topic.
I would recommend you to use Alexa Rank Tool by SEOToolStation to know more about your competitor’s websites such as rank history, monthly traffic, keywords driving traffic etc. Visit SimilarWeb if you want detailed information like ad revenue, mobile apps etc., along with online visibility score (popularity). Another excellent tool is SEMRush which offers all-inclusive reports containing data about search engine rankings, PPC ads along with traffic estimations. It also enables you to know the back links created by your competitors for their websites.
The best way to find out about what your competitors are up to is checking out their press releases and news articles. If they have launched any product or service recently or has any partnership with another company then it will be mentioned in these news sources. The other areas where you can get information about your competitor’s business are forums, Q&A sites like Ansfind, Quora, Yahoo Answers etc., blogs and article directories. These sources don’t offer too much data but could give you an idea about the recent happenings in your competitors’ arena. All this data not only helps you learn more about them but also make an effective marketing plan for your own website.
I hope you find all the information about your competitors useful and now we move onto its significance. You can use that to increase traffic, improve ranking and boost the revenue of your online business. All this ultimately leads to increased profits.
If you’re planning on starting a business or launching your own product, then competitors are what you should be most concerned about. “What competitors?” is the first question that would arise in anyone’s mind.
If you want to know more about competitors, here are some of the key points that every entrepreneur should know about their competitors:
What do they have?
Competitors have similar products just like yours only that it might be different in terms of color or design. You’ll gain an edge if you start by studying them thoroughly. The best way to do this is by dissecting their advertisements and marketing strategies. By gaining an insight into how they handle their online presence, marketing tactics and promotional strategies, you will be able to determine how they manage to sell their product.
What should your competitors want?
Competitors usually tend to cop up with competitors that are similar in terms of value proposition, marketing goals or target market. This means that there is a chance that competitors will try to do the same thing as you by copying how you do it. They might copy your business model, promotional strategies and success formula. To avoid this from happening to your business, ensure that you create realistic milestones for yourself and set clear targets for each stage of the project before dealing with competitors.
Do they have an upper hand?
It is important to look at who has an edge over the other when it comes to making smart decisions about competitors; this could help you get a better understanding of how your competitors might think. If competitors have a clear vision for their endeavors, then you need to work on yours and ensure that it is sharp enough to deal with any competitors who might be trying to steal business from you.
How to win against competitors?
By studying the way your competitors handle their products, marketing strategies and promotional tactics can help you gain insights into what they’re offering and how likely they are going to beat your business in terms of sales and profits. The key thing here is to know what contributes most significantly in helping competitors market their product or service successfully which ensures that competitors will look at ways of minimizing or eliminating these factors when it comes to marketing your products or services.