Keeping An Eye on the Competition

In order to keep your small business practices up-to-date, it’s important to keep an eye on the competition. You’ll learn what the latest trends are, find out what’s working and what’s not, and remain responsive to what your customers want and expect from businesses like yours. Fortunately, there are several easy ways to learn about your competitors.

It may sound counterintuitive, but it’s important to learn as much as you can about how your visitors browse your website. If most of your visitors leave before making a purchase, you can bet that there are competing sites that they find easier to use. ClickTale is a great tool that lets you see exactly how visitors use your site, so you can pinpoint what is working and what is not. Looking at visitor browsing patterns will show you what visitors want and expect to see on your site–not only will this help you make changes to retain your visitors, it will also provide important clues about what competitors’ websites offer.

Analyzing your website’s statistics and the behavior of your visitors is an essential part of staying competitive, but what about the people who aren’t visiting your site? Some of your potential customers are visiting competing sites instead, and services like Compete.com can help you discover why. Compete offers access to multiple ways to analyze your competition. You can learn what keywords your competitors are optimizing for, see their site traffic history and other competitive analytics, compare your search marketing performance, and learn which sites on the Internet excel in ways you’re trying to emulate.

You should also take advantage of services like Google Alerts, which will deliver the latest news on your competitors straight to your email inbox. Set up an alert for any topic you wish to monitor–like the name of your competitor’s business, product, or targeted keywords–and keep up-to-date on the latest Internet buzz.

Checking out your competitors’ social media presence is another way to learn about them and how they’re using this newer marketing tool. Look to see if your competitors have Facebook or Twitter profiles and what they’re doing with them. If they have a lot of followers and good interaction with them, that’s a sign that they’ve found an effective way to attract your target audience. Also try searching for their website’s URL on bookmarking sites like delicious.com and Digg.com–you can find out who’s bookmarking and recommending your competitors sites and what tags they are using to identify them.

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