Do you have a program
in place for keeping tabs on your competition?
Have you tried out their latest products,
seen their current marketing campaign
or introduced yourself at industry-wide
meetings?
Knowing your competition
should be an important part of your on-going
marketing plan. The information you gain
can be invaluable to your success.
Linda Coss
949-699-2749
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Know Your Competition
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Unless
your product or service is so unique that
no one else is offering it, setting yourself
apart from your competition can be key to
your success. But how much do you really
know about your competitors? Who are they?
What do they stand for? What are their Unique
Selling Propositions? What are they up to
in the marketplace? And - most importantly
- what are their vulnerabilities?
8 Ways to Check Out Your
Competitors
Once you've identified your competitors,
there are many ways to learn about them,
including:
-
Visit Their Websites.
It might seem obvious, but a surprising
number of business owners fail to do this.
-
Visit Their Retailers.
If you sell a retail product, get out
to the stores on a regular basis and take
a look at the competitors' products.
-
Order Their Marketing
Materials. Ask a staff member to order
your competitors' brochures, catalogs,
price lists, annual reports, etc. Learn
all you can from these materials.
-
Buy Their Products.
If it's feasible, order something from
your competitors every few months. This
is a great way to get a first hand look
at their products and their customer service.
-
Attend Industry
Group Meetings. It's often possible
to meet your competitors face to face
in a friendly environment. People like
to chat about what they're doing, and
often say more than they should.
-
Go to Major Trade
Shows. Walk the trade show floor,
go to the receptions and attend the seminars.
Talk to everyone you can and learn as
much as you can.
-
Read the Trade Journals.
Subscribe to your industry's trade journals
and read them cover to cover when they
arrive.
-
Use Google Alerts.
Set up Google Alerts for your competitor's
company, brand and product names, as well
as other industry-related terms.
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| ©
2010 Linda Marienhoff Coss |
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