Some information about
your competitors is public knowledge. Other information might be a little more
difficult to get hold of, and businesses try to keep analytics on that
list. However, if you get to look at some of the numbers, important
things to look at include:
•
Keyword Success
•
Conversion Rates
•
The success of Individual Product Lines
Tip #2: Look for New
Products
You can’t stay ahead of a
competitor without knowing what their latest offering is. As new products are
released, keep yourself up to date and see what you can do to one-up the
competition. Sometimes it is all about adding a new feature or two that a
competitor doesn’t have as the reason for releasing a product a little later.
Tip #3: Watch Promotions
It is
easy as joining a free mailing list. Now you have access to every sale or
promotion a competitor runs. Run better sales at the same time, similar sales
when your competitor is between sales, or try to anticipate the next promotion
based on recent history—and then get ahead of the game. It is good option to
promote your business online because today’s human life quite depends on their
mobile phone laptop and etc for searching online product and services rather
than of traditionally. Online marketing helps you a lot.
Tip #4: Watch the News
You can set a Google alert
for any news on your main competitors. If anything negative happens that you
can capitalize on, you will be ready to do so at a moment’s notice. If a
competitor does something game-changing, you can react immediately, even if
that means heading back to the drawing board.
The fact is that your
competition is probably seeking intelligence on your company. If you are not
playing the game as well, you are far more likely to lose. Hopefully, you now
have what you need to get some competitive intelligence started up if this was
not already something you do.
Nice blog.
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