How much do you know about your competition?
As business owners, there are many stats to keep a track of and many areas of the business to remain on top of. One of the key areas is your competition.
We are not recommending copying them of course, but seeing what they are doing helps understand what you are up against if customers approach you with comparing questions, but also this research will help you be mindful of what they are not doing so you can craft out your niche and your USP.
Reviewing your competition also helps define and analyse keywords and online activity for SEO and online marketing purposes.
So who is your competition?
Think direct and like for like but also think about similar companies even if they are not exactly matching on paper. The competition may be local and national and it may be on and offline.
Marketing Plans created by Pinpoint Marketing covers competition analysis in terms of reviewing their sites and social media profiles, but searching for them and you using Google and keywords.
Forearmed is forewarned as they say …