Finding out the local competitors to any business is one of the first requirements towards the establishment of a successful marketing approach. Thus we have come up with a few ways that can help you to find out who your real competitors are in the market you are serving.
Local competitor analysis strategies
The best way to begin your local competitor analysis is to use Google for the first step. You can simply start by typing in the products or services you are offering. This will help you to automatically find the websites that are working on the same terms as you are doing and provide you with an idea of what they are offering.
Another step to go localized is to include the location within the search term, for example, best web development services in California. This can be helpful for you to find out who exactly your competitors are working within the same town or city. It can be one of the best ways to get a list of your close business rivals.
Google Maps is another one of the best ways to find out the local competitors for businesses having a solid existence in the locality. Registering the business on Google Maps has two-fold benefits. To begin with, it helps more interested customers to find your business. Apart from that, it provides a more specific solution in comparison to the above-mentioned strategies. Take some time out to update your listing on Google Maps.
If your services or products are independent of the location, then researching social media is one of the best options for you to look into. The best approach to performing solid social media research is outlined below:
In-person interaction can never go out of date, no matter how much progress technology makes. Participating in business events and functions allows you to not only know who your potential clients are as well as the main competitors you need to take over to rule the market.
Once the competitor’s list has been successfully curated, you need to run a background check to ensure if they really are your competitors. Check for their year of establishment, their target audience, products and services and offers and if it tallies with your brand. This helps you to easily look for the elements that can help you enjoy an extra boost in the market and formulate strategies in a more aligned approach.