Whether you acknowledge it or not, competitors are real and they are hungry for your customers. When you build, operate, and develop your own company, you must know everything about everything around you.
“You can be willing to devote your time and energy to maintaining the company’s competitiveness by constantly monitoring competitors, you can understand how they behave and then be able to attend guess what they can do next ”. That’s what Aware’s CEO, Arthur Weiss is committed to competitive experience.
Then you can plan your strategy to retain existing customers and win new customers from competitors. In other words, maintaining a unique competitive advantage is a positive strategy to develop and expand the company.
The good news is that if you can hire someone like Weiss, you or your staff don’t have to spend time investigating details about their competitors. You can also do it in many different ways and there is almost no cost.
Here are 10 tips for entrepreneurs and small business executives that can help you start collecting information from competitors right away.
1, JUST LOOKING FOR INFORMATION ON GOOGLE IS NOT ENOUGH
There is no doubt that the starting point for any current research project is to perform a simple Google search or visit a competitor’s website.
But in fact, you can use some tools provided by Google or some other tool to handle Google search results, of course you can also use Google AdWords as a marketing tool to help You know the competitiveness of the company.
2, DO SOME INFORMATION GATHERING WORK
There are many useful and free resources available for you to collect information about competitors online or offline.
Sun Tzu for Women: The Art Becky Sheetz-Runkle, author of War for Winning in Business, said: I recommend that you regularly monitor information published by industry analysts, such as Gartner, who always report report on your industry, related industry associations.
The surveys and research that these organizations are doing can help you determine who your competitors are or may be your competitors. They will give you some information and clues about the direction of current industry development, based on which you can tell which market needs you meet?
3, FOLLOW SOCIAL NETWORKS
Of course, as more and more companies start using social networking sites, social networking sites like Facebook, LinkedIn and Twitter have become marketing channels to help you learn about competitors from Different views.
“Just by paying more attention by following Twitter, Facebook, blogs and other emerging media, we can easily focus on competitors’ trends. The attitude of the public towards competitors is in our eyes.
This is really a kind of synchronization with the market. An economic and efficient means, ”said Michael Meschures, president of Spaphile.com, an informational website on SPA and beauty products.
4, CUSTOMER IS THE BEST CONSULTANT
To find the most direct source of information for your competitors, you must not lose customers.
Weiss says: Whether you want to win a new customer, or find out which merchants (competitors) prefer these customers or understand why they are unhappy with you, it’s only because are you Vendor.
Communicating directly with customers is the best (and cheapest) way to gather information about competitors. Conversely, if you lose customers you need to know what they like about your opponent.
If you can collect all kinds of this information, you must understand very well what competitors’ products are very popular with customers. After that, you can adjust your product strategy and defeat the opponent.
5, PARTICIPATE IN DIFFERENT MEETINGS
Regularly participating in trade fairs, joining industry associations so you can effectively grasp who your competitors are, what products they are offering?
Amy Lewandowski, marketing director for PepWear online retailer, said: “We will seek to participate in these meetings so we can visit the opponent’s booth to see how they communicate with customers, Collect some written materials and check their product quality.
6, INVESTIGATION OF SUPPLIERS
If you work in an industry, your supplier will also be a supplier to other competitors in the industry. At this point, you have the opportunity to ask these providers a few simple questions.
Zach Berning, an Overland Gourmet partner, said: It takes time to contact your suppliers and get to know them as much as possible. Of course, they will not tell you directly whether your opponent has ordered or not. You need to ask questions more subtly.
7, HIRE YOUR OPPONENT
Another strategy is to hire employees from competitors, especially salespeople and build partnerships with rival partners. “No one knows whether this company is good or bad except for its employees.”
You must do everything you can to find out all the information about how these companies work. Moreover, what is the latest move? Where do they do business? Which market are they trying to enter? How do they use innovation to cut costs and improve productivity?
What are the serious errors or omissions of their products or services? No one can provide more information than salespeople, except for those who are dissatisfied with their work.
8, PAY ATTENTION TO THE RECRUITMENT INFORMATION OF COMPETITORS
You can also get some information by studying the types of talents that competitors are recruiting to fill the job vacancies.
For example, if a company is planning to hire a programmer, they will post information about technical needs to notify employers about information that will tell you exactly the technology they are using.
See more of the jobs they are hiring – if they are recruiting patent lawyers, they may be researching some important new inventions. If they are hiring some human resources, they can be prepared to expand the size of the company.
9, CONDUCT MARKET SURVEY
If you are interested in getting a comprehensive report on all companies in your industry, you may consider conducting a market survey.
10, CALL DIRECTLY TO COMPETITORS
When you have completed enough research to determine who your opponent is, you may want to try to find out more with the old way: call them directly and ask whatever you want.
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