How do you determine who your competitors are?
Peyt Spencer Dewar
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Svitlana Palamarchuk@svitlana_palamarchuk
Using these steps
1 - Market Research: Understand the market landscape, who is offering similar products or services.
2 - Keyword Research: Online search using keywords related to your product/service can reveal who else is targeting the same audience.
3 - Customer Feedback: Listen to your customers. They often compare and can provide insights into who they see as your competitors.
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Collabwriting
When it comes to B2B talking to (potential) customers is usually the way. Because for different industries your competitor might be an Email, a similar SaaS, a Notebook, a Spreadsheet, or a person.
B2C is manual online research and asking open-ended questions to different platforms on how people solve problems you are solving.
Once they start visiting your LinkedIn profile ;) on a serious note :
* Identify your target market. Who are you trying to sell to? Once you know your target market, you can start to identify companies that are also trying to sell to the same people.
* Look at your online presence. Who are the other companies that are ranking for the same keywords that you are? These are likely to be your competitors.
* Ask your customers. Who do your customers say are their competitors? This can give you a good idea of who you are up against.
* Attend industry events. This is a great way to meet other companies in your industry and learn about their products and services.
* Read industry publications. This is another way to stay up-to-date on the latest trends in your industry and learn about new companies that are entering the market.
* Use competitor analysis tools. There are a number of tools available that can help you to identify your competitors and gather information about them.
Hope it helps.