Competitor Research Tips to stay ahead of the cut-throat Competition

You're offering the best services to your clients. 

Yet, you see businesses that have opened after you overtake you in profits. 

You've got a loyal customer base and offer quality products. 

You also spend a decent amount on marketing...

However, you can't figure out why your profits aren't rising as steadily as it does for the other players in the industry. 

The answer is simple. 

You've NOT been keeping an eye on your competition. You know who they are, you've seen their blog posts, you've seen their social media posts.

But you're not consciously monitoring their efforts and tweaking your marketing strategy to get ahead of them. 

This is a problem that has to be tacked quickly because...

The growth of your business is proportional to how far ahead you're from your competitors. 

This is only logical and if you don't know how your competitors are marketing their services, you won't be able to change your marketing strategy to level the playing field or up the ante.

If you don't change your marketing strategy, your brand exposure goes down. Not many people will be aware of the quality service you offer. 

This means you'll have only 1 customer when you can have 100 customers. So, you'll be losing out on profits too. 

It doesn't matter if you just started your business or if you've been in the industry for a few years now. As a business owner, LOSS is a nightmare and you don't want that. 

That's why you must implement these 5 strategies and stay one step ahead of your competition at all times.

#1 Be the SMART business owner who monitors SEO competitors regularly

Organic SEO is the bread and butter of most businesses that sell products online. That's why it's important to stay ahead in the search results. 

How do you do that?

It's simple. You enter search phrases that people use to search for your business online and see what pops up in the search results. 

Take a look at the paid ads and the organic listings. Click on your competitor's website and make a list of what they've done right and what they lack. 

Next, use free tools like Ubersuggest, Google Keyword Planner, KeywordShitter and Google Trends to get a comprehensive list of keywords that your competitor ranks for. 

You can also use paid tools such as AHREFs, or SEMRush to get a more comprehensive list of keywords that your competitors rank for. 

Here's Neil Patel's list of the 17 Best Paid and FREE SEO tools to help you get ahead of your competitors

Paid tools give you detailed statistics like the number of clicks your competitors get, their backlink profiles, and the number of times their articles were shared. 

This information will help you make changes to your website and the content that you put out on your blogs. 

Blogs help keep your website updated and relevant for your customers. You can either subscribe to your competition's e-mail to get notified of new posts.

Another way to see which posts are performing well in your niche is to use BuzzSumo. It helps you find posts that perform well for a website or posts that are performing well in a particular niche. 

#2 Analyse Competition's Social Media Posts and Make Yours BETTER

Every serious business has made its presence on various social media networks. They post regularly, conduct giveaways, and make sure their audience is completely hooked to their presence. 

You can either monitor your competitors' online presence by following them from your personal account or use paid platforms like Hootsuite to see what they are up to. 

That's all great but how do I create "viral content" if I've got a "boring" product?

Simple Answer: Meme them. Make pop-culture references. Weave a story with your product as the sidekick. 

PayPal created a story around small business owners who use their apps. It became a massive hit. 

3M sells tape and sticky stuff. They educate their viewers on why they should care about what they're selling. 

Hootsuite's blog has 12 other stories about "boring" brands that rock social media.  Don't forget to entertain and educate your audiences. Take pointers from your competitors' social media page and test out different kinds of posts to see what works for you. 

#3 Steal your competitors' ads 

No, we don't mean plagiarising the content of your competitors' ads. 

Just take a look at their paid ads on Google search results. 

Here are some of the points you can make a note of:

Did they link to a landing page or a blog post?

Did they emphasise on buying or just educating the audience?

Have they used site link extensions?

The list can go on. 

If you'd like to learn which Google Ad converted best for your competitors, then you can use tools like SpyFu. It gives variations of PPC ads used by your competitors in the last 11 years so you have plenty of material to start with. 

If you want more choices and decide which tool will be best suited for your business,
Check out Adstage's blog post on the 10 PPC Tools that'll help steal your competitors' ads

Don't stop with PPC ads. Go a step beyond and see what kind of ads your competitors are using on social media.

AdSpy is a great tool to check out your competitors' FB, Insta, Google, and YouTube ads. 

It lets you download landing pages, get access to cloaked pages and get important competitor ad metrics. 

If you discover that a specific FB ad of your competitor is doing well, you can also save and bookmark it for later use. You can also sort ads according to various factors and get insights from ads across different countries. 

If you can't fit in paid tools into your strategy, all you have to do is wait for your competitors' ads to show up on your feed. All you have to do is steal them and make them better!

Conclusion

If you have to beat your competition when it comes to marketing your products, you must follow these 3 tips. 

  • Monitor your SEO competitors regularly using Paid and Free Search Tools. 
  • Reverse Engineer their Social Media Posts and transform these into something that works for you. 
  • Use Tools like AdSpy to steal your competitors' Google, YT, Insta, and FB Ads. 

Don't want to do all the hard work?

Contact Pigtail Pundits and book a FREE Consultation session today. 

We've worked with clients across different niches for more than 23 years now. We've helped businesses flourish and see abundance. Will your business be next?

If you found this article useful, do share it with your community and friends who might be in need of it.

Let us know if you've used any of the tools mentioned here to get ahead of your competitors. 

How was your experience? Did it help you get ahead in the race?

Type away in the comments section.