Monitoring your competition can be vital for small businesses. Paying attention to your competition’s marketing, social media channels, and website activity can give you useful insight for what you need to be offering. However, unlike big businesses, small businesses often don’t have the budget, staff, or time to do so.
Here are three super-effective ways to monitor your competition that won’t require too many of your resources:
1. Connect with your competition on Facebook, Twitter, Instagram, etc.
Use social media to follow and like not only your competition, but also their key leaders, to keep track of what they’re doing. You can also utilize the analytic tools Facebook and Twitter provide for businesses. Facebook even offers a “Pages to Watch” section under the Insights tab.
2. Sign up for Google Alerts.
Google Alerts is an incredibly useful and free tool that will deliver information about your competition directly to your inbox. You can select which search terms and which results will trigger the alert. News, blog posts, and video uploads can then be delivered straight to you as frequently as you like. It’s a good idea not only to set up alerts for the company name of your competition, but also for different variations of the name.
3. Monitor their websites.
There is a lot to learn when looking at your competition’s websites. Don’t just pay attention to the overall look and feel of the site, pay attention to the products and services they are offering. Is there something they offer that you do not? Are they using those products and services to leverage themselves above you?
Monitoring your competition online can be vital to your businesses success. If you need help staying ahead of the competition or are looking for more information on what you can do to monitor your competition online, contact us today.