If a seller chooses a good product and the market demand for this product is good, it does not mean that the market competition for this product is low. Therefore, before “rolling up your sleeves and working hard”, it is best to see how your competitors are doing.
1 Find competitors
The easiest way to find competitors is to search for product keywords on Google. Think from the perspective of potential customers and search with keywords that potential customers often use.
Sellers need to understand competitors for keywords for specific products and industries, and which of them rank high in Google searches. See who is on the first page of the search. If you want to get a more comprehensive understanding of your competitors, you can also enter “related:www.competitorURL.com” in Google search to get a list of other similar companies, or use free online tools Similar Web and SEMrush to analyze other competitors.
2 Analyze competitors
Although it is difficult for sellers to clearly understand the performance of each potential competitor, they can be analyzed through some tools, such as the free online tools Similar Web and SEMrush mentioned above. They can provide a lot of additional detailed information about potential competitors, including traffic overview, traffic geography, reference websites, search keywords (natural search and paid search), social recommendations, etc.
3 Analyze competitor websites
By analyzing competitor websites, browsing competitor online websites, etc., you know who the competitors are. When browsing competitor websites, sellers need to think about the following questions:
●How do competitors emphasize their value propositions (Value Proposition) ?
●How are the competitor’s prices compared to yours?
●What are the competitor’s product images like?
●What are the competitor’s product descriptions like?
●What are the competitor’s logistics services and prices like?
●Where does the competitor place its call to action?
●How obvious is it?
●Is the competitor trying to build an email list?
●Is the competitor’s website optimized for mobile?