Today, even for buying something as simple as a digestive pill involves skimming through 50+ brands with 100 different flavors to make the right choice due to competitors. Even “fierce” sounds like an understated word in front of the massive market competition we are witnessing today. To a point that even customers find it stressful and infuriating at times, just the way businesses do, each time the thought of their survival crosses their mind.
But I say, let’s entertain that thought for a minute.
“Will I be able to survive?”
Let me say this point blank. You can survive as long as you know what’s up in the market, and you can top the game when you know what to do with that information.
No matter how great your product/service is, without the following two things, you cannot expect to take a quantum leap towards the success flag.
I believe I’ve already dedicated enough blogs over my favorite subject, Digital Marketing. Today, let’s find out how we can gain the edge over our competitors and also, secretly hope that our competitors don’t come across this blog before you do.
Do you really know how many competitors you have? Look twice.
If you have a growth oriented approach, you’ll know that it’s only wise to not just consider your local competitors but also your global counterparts.
Start with the basics – A simple Google search will go a long way. Other tools like Crunchbase and LinkedIn will also help you fetch your competitors from every nook and corner.
(More tools listed in my book)
Competition Analysis! After getting a list of your competitors, quickly scan through each one of their websites. Segment them into categories, if need be. Starting from their website design that includes structuring and the color schemes they use, to technical stuff, such as the traffic they get and what keywords they use. You can easily get access to that through Ubersuggest.
(More tools listed in my book)
Social Media! Something that almost the entire human race cannot take their eyes, hands and mind off.
What is their style of messaging/ the tone they use?
Do they participate in Topical content?
What pattern, color, graphics do they choose to use?
What hashtags do they use?
What time and day do they usually upload their content?
How can I be better than them?
Open Excel/Google Doc and jot all the information down. Now that you know their X+1, make sure you offer X+1+2.
Start concentrating on making Viral content. Buzzsomo is a great website that helps you create exactly that. On the said platform, you can easily identify what content performs best for various topics or competitors. You can identify keywords, hashtags that work the best and even get information on current trending influencers.
Remember, trend is your friend. Participate in it at all costs!
The largest of agencies and brands in the market use these tools to stay relevant in these dynamic times. Do not miss out.
There you have it! A short summary on spying effectively on your competitors with the help of appropriate tools. If you have the privilege of time and money, do catch up on my book, Unleash Your Business Online that gives a greater insider and insight on the topic that we touched upon today. A nominal amount as an investment today will go a long way in shaping you for tomorrow. See you in my book!