Competition is inevitable in the business world, researching and keeping up with your competitors is an effective strategy for growing your small business. Below we’ve provided key tips and tools you can use to find your competitors’ information for free!
1. Online research tools/apps
- Spyfu.com – A great resource. It identifies the keywords that websites are showing up for within search results, as well as keywords that websites buy on Google Adwords. Spyfu.com gives you interesting information on your competitor with visual charts and detailed reports. A lot of information is given for free but for a full detailed analysis, you must pay a fee for their website.
- Alexa.com – Not only will Alexa give you tools for SEO and PPC strategy but it also allows you to view the analytics of your website and your competitor’s website. It estimates website rankings, breaks down demographics, bounce rate, and more. Alexa offers a free trial but after the allotted time you must pay a fee for the website.
- Similarweb.com – This website offers multiple features, including an overview of competitor’s website traffic volumes, keyword analysis, referral sources, and display advertising. Similarweb offers a free sign up, but you must pay a fee to get the full benefits.
- Google Alerts- You should already have Google alerts set up for your own company to see if people are talking about you! Another way to use Google alerts is by having it set up for your competitors, which keeps you updated on everything they have going on.
2. Keep track of social media
Social media marketing is very important for a business’ visibility and outreach to current and potential clients. Nowadays, companies are constantly using social media platforms like Twitter, Instagram, LinkedIn, and Facebook as marketing outlets. Monitoring your competitor’s social media is a cost-effective way to keep track of your competitor’s news, updates, facts, and their follower base.
3. Attend trade shows
Attending trade shows and conferences are a great way to learn what is happening in your industry, gain brand recognition, generate leads, and sell products. It is also a great way to learn about your competitors, their products or services and how they’re marketing themselves.
Having competitors is inevitable in the business world, but keeping up with your competitors and monitoring their business moves, means you are more likely to anticipate what they will do next! Make sure to use the above tips and tools to properly research your competition, if you need any help, please feel free to reach out…We’re always happy to help!
Danielle Foley, President
Foley Marketing Advisors