The answer is on the surface. Find out what, where, and how your competitors sell and do better. This requires qualitative analysis. Just three key steps, and you know your competitors' maps!
Step 1: Ask yourself why?
Everyone needs money. And you can earn them if you have it all figured out on all fronts:
There is a product whose value is not in question:
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The tone of voice (brand voice) resonates with the audience because the messaging is embedded with understandable triggers for target customers;
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Advertising converts well.
The points of growth here will be "pointed out by competitors" - their experience of successes and failures. Software that helps you make sales and control calls. The program should not only collect but also analyze these calls, but before you choose such a program, you have to understand how does call-tracking software work because it is very difficult to find the right lead management systems.
Take note and move on.
Step 2: Find your competitors.
This is easier than it sounds.
The best option is to network in your communities.
Tell your subscribers in the chat room that you are looking for an expert in a certain field, and you will be sent a ready base of competitors;
The second option - search queries in browsers or on social networks. In response, you will get targeting or contextual advertisement from your competitors.
Step 3. evaluate your competitors' approach.
Do this on a few points:
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what kind of messaging and images your competitors use;
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what target action they expect you to take: buy, write a letter, leave an application, "get" in the funnel, etc.;
What products are offered - what are their price and value?
Your task at this stage:
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find your strengths and weaknesses;
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understand how to improve your product and sales approach;
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Stand out from your competitors;
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form or strengthen your unique selling proposition.
Just three steps of competitor analysis and so much good for business!
But if you think the such analysis is a one-time action, we will disappoint you - you must always keep an eye on your competitors.
Unless you need growth points and an answer to the question: how to be one step ahead of your competitors and sell more expensive, but not less.
