8 pieces of information you absolutely need to analyse about your competitors

You are entering a competitive industry, but you don’t know how to outperform your competitors. You are a growing company, but you have a long way to go to become the top play in your industry.

Competition online has become more important and professional than before. Nowadays, to succeed in the online business world, you need to fight hard. Indeed, we are far away from the beginning of the internet, when you only required to make a website, to generate some traffic and leads from the web. Having a clear understanding of what your competitors are doing to make it online is crucial for the success of your business. Here are some questions you would need to answer to create a marketing strategy that works and makes your business stand out from the crowd.

How are your their products or services different from yours?

Knowing the difference between your competitor’s products and yours can help you to understand where your product is better and where it needs to be improved to be competitive. They are many ways to help you to define the difference between your competitor’s product and yours. Try to find testimonials or reviews that can give you a better idea about their products. You can also buy the product to study it more carefully.

How do they make themselves unique in the market?

Knowing the uniqueness of your competitors can give you some idea about how to make yourself unique. Being unique is probably the best way for you to make a difference in your market. If you understand what is unique about your competitors, will see how you can adapt your product and services in a different way, so you don’t copy them, and you can propose something new to your potential clients that would be more likely to interest them.

What voice do they use to speak to their customers?

In general, when you do digital marketing, you show content in many forms to people who will see it and interact, depending on what is written. Having a voice that talks to your potential customers will help you to engage more people in what you are offering and, consequently, will make you sell more.

What sell funnel are they are using to get visitors to call them or make a purchase?

Bringing the sell from a website is the most challenging part of doing business online. You need to find a way to bring your customers exactly where you want them to go even though some tools can help you to analyze how your visitor behaves on your website. Looking for your competitors’ Sell Funnel can be a smart thing to do when it comes to checking their website. The fact is that other authorities in your industry are already selling online, which means they are probably doing something right. You want to see how they bring their products to their visitors. That you might get some good idea to create a working sell funnel for your website.

What traffic source works for them?

To make your business work, you need to have a website that is viewed by the maximum of targeting visitors. Once again, your competitors might already have the solution for you. By checking their traffic source, you can know where your market is online and where to go to gather some people interested in your products and services. This spying technique can work well if your competitors have a lot of targeted traffic coming from different channels. That way, you will see what works the best for them and how you can use those channels to increase your visitors.

Which social media are they on?

Many so-called Marketing Gurus will tell you have to be on Instagram or other social media. The truth is that depending on the type of industry you are in, certain social media won’t work for you. The best way to know which social media are useful for your business is by checking what social media perform the best with your competitors.

How do they manage their social media? Once you know what social media your competitors use for their marketing, it is good to check what type of post they are doing and how they leverage their social media campaign to increase their sales and visibility.

In conclusion, spying on your competitors can be efficient if you look for the right things. You will get a better understanding of what works and what doesn’t. You’ll also get a better idea for your own business to enter the game the right way or improve the quality of your marketing strategy.

When checking your competition, you should always try to find firms that are efficient online. Many companies are not necessarily doing good marketing online, and you could end up getting inspiration from a business that is not working.