It is very important for your business to begin analyzing your competition. This can be overwhelming trying to determine where to start or how to go about it. We will try to point you in the right direction so you can begin analyzing your competition, this way you can determine what would be a good marketing strategy for you.
The first step is to figure out who your local competition is. You can start by running a Google search, for example if we were looking for similar companies, we would run a search for Web development companies in Phoenix, AZ. This would give us a list of potential competitors in our local market. Look at 3 or 4 different companies and write down things you feel they are doing well, and write down things that you feel they aren’t doing so well.
Next you want to look at all the different ways they are advertising. Do they have a store front? Do they do most of their business online? or do they have both? What is your plan of attack going to be? These are all questions that you need to be asking. If your competition has a store front, they are likely to have a larger client base as there is a lot more overhead than running a web based business. If they don’t have a website at all, they are probably of the old school train of thought and aren’t doing a whole lot to gain new customers since they already have a specific customer base. You will be able to find holes in their marketing strategy and that is where you will be able to capitalize.
If your competition has a website, view their website check out the price points of their products. Look to see how professional their website is. Ask yourself how does my website compare? It is important as many online shoppers will check a few different sites and usually the one that offers a professional feel will earn the customers trust over a website that looks outdated. Another thing you can do to keep up on what your competition is doing, is to follow them on Facebook and Twitter. Generally businesses like to post great deals or upcoming events on Facebook and Twitter. This will give you an edge because you will know what your competition is thinking.
There are many more things you can do to analyze your competition, but these are some suggestions as where to start. You must realize that analyzing your competition is very important and will help you when trying to determine your marketing strategy. Click here to get a free quote. As an elite web design company in Phoenix, AZ we will assist you in analyzing your competition.