The Benefits of Spying on the Competition

The Benefits of Spying on the Competition

Regardless of the type of business you run, there will always be some form of competition.

Even the most niche businesses find that despite their unique business model, there are still competitors out there that they need to pay attention to.

This doesn’t mean that one business should copy the strategy of another, but it will give an overview of what measures a business takes to ensure a connection is made with customers, and the right kind message is being given to potential customers.

Although the concept of spying on the competition can sound a little sinister, it’s actually a common practice that can yield benefits for businesses, as well as ensuring that customers are getting the online experience they’re looking for.

The following is an example of the methods that can be used to spy on the competition.

Follow Blogs and Social Media

When following blogs and social media posts made by the competition, you’re not only finding out what they’re doing right, but also what they’re doing wrong.

Customers often take to social media to address any concerns that they’re having, as this could allow those spying on the competition to ascertain things that aren’t to the customer's likings.

Examples of this include poor technical support, slow delivery and bad customer service.

If customers are experiencing this from the competition, then it may be worthwhile accounting for this when working on the structure of our own business.

Find Out What Technology Is Being Used by the Competitors

When looking at a competitor it can be easy to assume that its success is due to a plethora of marketing experts.

However, many are surprised to learn that some of the success can be due to a piece of technology.

Don’t worry, there’s no need to become an expert in identifying elements of a website, as it’s easy as visiting BuiltWith and entering the URL of the business you want to inquire about.

Once a website URL has been entered, users will be given access to a series of different information, such as the content delivery network being used as well as what analytic tracking programs are being used.

Ascertain the Popularity of the Competition

Why are customers flooding to the competition? There can be several reasons, and without carrying out any research it can be difficult to pinpoint the customer’s journey.

Examining the traffic pointing to a competitor website not only gives you an idea of how many are visiting, but also whether there are any trends present that have contributed to the influx of traffic.

Although they don’t give results that accurate, the use of tools such as SimilarWeb and Alexa can be a great help when it comes to spotting trends.

Is There an Easier Way of Spying on the Competition?

How much work that needs to be carried out when spying on the competition will depend on who the competition is.

Even when the job is small as the business begins to grow so will the research that needs to be carried out. This is when it can be useful to enlist the services of a professional.

Using a professional not only ensures that your business has more time freed up, but it also ensures that the research being carried out will yield benefits in the future.

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