How to Study Your Competition to Find Business Success


How to Study Your Competition to Find Business Success

Business today can be very competitive. The more you learn about different companies and businesses, the better prepared you are to take advantage of potential opportunities.

How to Study Your Competition to Find Business Success

How to Study Your Competition to Find Business Success

This is how you can learn more about what your competitors are doing and apply it to your own business.


• Make a List of Competitions

The first step is to make a list of all your competitors. They should be immediate competitors that you know are doing well in your space. Create a folder on your computer called "company name" that contains a small folder for ad output, landing page and landing page.

Start taking a screenshot of the ad on the landing page. You may want to buy your competitor's product to see if it is offensive or offensive.

Remember, if your competitor is successful, they have probably spent a lot of money testing all the elements of their website, ads and landing pages. If you notice that your competitor is using live chat and scrolling ads, you may want to implement the same strategy.


• Chat with Former Employees

Learn more about your direct competitors by talking to their former employees. Employee turnover is always high and people move to different companies. Search LinkedIn for people who have worked for the company.

As long as they don't have a non-compete or confidentiality agreement, it's a great plan. Offer to pay a former employee an hour of their time and ask them questions to learn more about your competitor's marketing and sales strategy. You will learn the ins and outs of the big company in your space.

Before you call your first employer, write down a list of questions you would like to ask him, such as: "Which marketing channel do you get most of your customers from?" and "Do you sell or trade?" I recommend this plan for business owners who want to learn more about the big players in their space.


• Run Analytics Test

Use tools like WhatRunsWhere, SimilarWeb and SEMrush. WhatRunsWhere will show you which of your competitors' display ads are performing best and which sites they're showing. Similar Web is another great tool to better understand where your competitor's traffic is coming from. The beauty of this free tool is that it is like accessing Google Analytics of your competitors.

All you have to do is put your competitor's domain name into the search bar and you can see how much of their traffic comes from Facebook ads, paid search, SEO and other websites. The best tool on the market for paid search and SEO is SEMrush, which lets you see what keywords your competitors are targeting for, what social media is working for them, what pages what their failures are like, and where they come from.


• Study your Competitor's Marketing Strategies

Another quick way to learn more about your competitors' strategies is to study all of their books. Also known as a funnel hack, this involves evaluating the pitch from start to finish by clicking on one of its ads, going to the landing page, and filling out its form. Your competitors have tried and tested every aspect of their slots, so you'll learn a lot.


Final Thought 

These strategies have paid off for me and my business. Your successful competitors have already done all the hard work. You can quickly learn what works for them by reading all their books, testing their ads and landing pages, and talking to their former users. 

Once you start replicating what they do, your business will grow like a hockey stick. The best way to be successful is to imitate someone who has already been successful.

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