Boost Your Sales And Traffic : A Quick Guide On Competitor Analysis.

Do you really know what your competitors are doing? Competition benchmarking can be one of the most helpful and strategic tool, to help you plan current as well as future strategies in the most optimal way for your product, if done correctly. Playing a game without knowing your competitor’s strength or weakness is a mistake which no marketer can make but the most common miss which many of us may make is inadequate research. Here is a checklist which may be helpful before you launch your next product –

Boost Your Sales And Traffic : A Quick Guide On Competitor Analysis.

1. Use Google to the Full –

Many of us, use Google as search engine to perform our benchmarking exercise. But Google has more to offer than only being a search engine. Google Alerts is a simple tool to keep a tab on every single time our competition is being mentioned online and listen what they are being said about. Google Keyword Planner is other helpful tool, which may not give you every information about the competition, but it has a feature to filter your results based on competition.

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2.Read more mere than Competition website –

Build your expertise about competition by reading their product literatures like datasheets, manual, user guides, white papers. This will help you to understand their product completely and figure out the gaps and constraints which they may have. If feasible, download the trial or limited day’s free version, to explore more about their tool and product. The idea is really have a feel about their product.

3. Listen to Social Media –

There is much more happening on social media than you can imagine and missing you competition action there can be a biggest miss. Tools like Social Searcher and Social Mention not only helps you to monitor competition’s social action but also provides analytical data on their social interaction and reach. Social Mention even crawls blogs, forums and different communities to provide you the slightest step about your competition.

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4. More Information is Free –

There are many more tools which are available for free and provide much insight on your rival. Tool like Moat, help you identify the ad strategy of your competition while a tool named as SimilarWeb, you can have an insight about your competition’s website performance like ranking, bounce rate, traffic source and much more. Ahref tool let you have an insight about the inbound activities of the competition. Use such similar free tools diligently to know much more about your competition.

5. Advanced Tools For More Insight –

Along with free tools, there are many paid advanced tools to help make you strategic decision. Tools like Alexa and Rival IQ provides you with much more valuable information about your completion.

6. Customer is real ‘Pantomath’ –

And at the end, don’t ever forget to listen to your customers. They may be the ones who are closest to your competitors. Speaking to customers is one the easiest, cheapest, quickest and the most reliable way to gather information about the competition

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