In today’s fast-paced world, it is not just alright but wise to keep an eye on what your competitor is up to. Fortunately, in the digital world that we reside in, you can do it with a few taps. I’ll explain to you how in this article.
But before that, did you know that around 78% of the customers have left a website after having transaction problems, and if your competitor is facing this problem, you can use this lead to upgrade your own.
Some might judge this whole thing and label it as spying and an invasion of privacy. But, trust me it’s not. Keeping a record of what your competitor is doing through newspapers or journals or from internet articles does not make you an intruder. And let’s not forget the age-old saying, “Keep your friends close. But keep your enemies closer!”
Here are a few easy ways with the help of which you can keep an eye on the activities of your competitor and not invade their privacy at the same time:
How to Keep an Eye on your Competitors
1. Scroll their Social Media profiles
This is the most common way you can keep an eye on your rival. Almost every business owner has their own social media accounts because these platforms not only increase the reach but also boost your economy.
It can provide you with the best insights and details of what your competitor is doing without invading their privacy. Look out for the following:
- Make a note of the type of content they are bringing out to the public and analyze their creativity
- Keep a keen eye on the amount of engagement each of their posts is getting from their followers and also the ones with low follower engagement.
- Check out the comment section as many buyers after the purchase tend to provide reviews there and how your competitor deals with judgment.
2. Read their Reviews
Nowadays, most business owners and entrepreneurs have online reviewing systems linked to their businesses. By doing this, you will get to know things like:
- The reaction of the public to the brand which deals with somewhat the same things as your business
- The customer’s opinion about the whole customer service and the pricing of the goods; and even the quality of goods.
- Reviews will also help you get an insight into your competitor’s weaknesses which you can leverage going forward.
3. Analyze their Website
Pretend that you are the buyer and check out your competitor’s website if you have never done that before. Sometimes, seeing from the perspective of an entrepreneur, you might overlook the things that only the customers can point out.
Therefore, take this opportunity and visit their website and make notes on what more the website needs from a new user’s point of view. This might seem like a lame idea, but this has proven to be helpful to many.
You can also make use of a website screenshot service to capture images of the same.
4. Google them!
This option is the most basic thing you can do to keep an eye on your competitor. This option may appear like an obvious one, but if you are new to this business world, then simply try Googl-ing their business and learn about whatever they have created.
Also make a note of the keywords that appear on the Google Autocomplete section, because that will determine what are the things that your competitor is most searched for.
5. Go through their Newsletters
You can also keep a track of your competitor’s activities by subscribing to your competitor’s blog. This will help you to gather more knowledge about the type of work they are doing and the exposure they are getting.
If this seems a bit too tedious for you, you can always use applications that will gather all the necessary information related to the particular business and help you strategize your own business plan.
Over to you…
If you know your competitor’s way of doing business, you will be able to not only upgrade your own marketing game but also serve your clients and customers better. Remember, in the business world, knowledge about your partner is as important as knowing your competitors.