Are Your Competitors Eating Your Lunch?

Your competitors might be getting some or a lot of your potential business. You might not have carefully considered, what they are doing to take business from you. Knowing how your competitors are marketing their products or services is critical to obtaining the most business for you.

WHAT?

  • What are your competitors doing to steal your potential customers, thereby eat your lunch?
  • What are your competitors doing that you aren’t?
  • What are the competitors doing better than you?

Competitive Analysis

Simply put, you must examine your competitor’s website and your website very carefully and gather critical information that will be helpful to your efforts to obtain new customers. This will keep you ahead of your competitors. Here are a few steps to take.

  1. Review your competitor’s website for content, call to action statements, and don’t forget to read their blog. Look at what types of messaging they are using and how they are stating what they do and how they do it. You will be surprised at the information you will gather that will help you out-smart your competitors. (You should review your competitor’s website at least every other month to be up to date on what they are doing.)
  2. What Social Media is your competition using? What do they post on Facebook, LinkedIn, Twitter and other Social Media sites? Are their posts better than yours? Do they post more often? Figure out what they are trying to accomplish with their social media activity. (This should be a monthly activity for you.)
  3. Compare your keyword/phrase ranking on Google’ Organic search results with where your competition shows up. Do they have higher rankings? Check out their organic search results titles and descriptions (snippets). Are their titles and descriptions better than yours? What are they trying to do with their listings? (This should be a monthly activity for you.)
  4. If you are using Google AdWords? Compare your ad positions with the competition. You can also checkout approximately what they pay for their listing with AdWords tools. Look at their ads carefully. What are they using for a title and descriptions? Are they using words that would be used to obtain a direct sale, offering a white paper, free tips, or something else? What about your Google Ads are they the best that they can be? (This should be a monthly activity for you.)
  5. Are your competitors a member of Groups on LinkedIn, Facebook and other Social Media sites? Are they post articles, communicating with others in your industry or Groups in the markets that you are targeting? What are they saying? What are they talking about? (This should be a monthly activity for you.)

Website Audit

Your own website might be internally eating your lunch and you might not know it. A complete audit of the external and internal workings of your website is ultra important. An audit will uncover what is right and wrong with your site compared to website standards.

If your website hasn’t been fully audited it might be your website that is driving potential customers to your competitor’s website. It is the lack of attention to your website’s content, UX, Call to Action, Headlines, Page Descriptions, etc that will hurt you.. Everything that you can see and read on your website should be reviewed again, now.

How fresh is the content on your website? Have you made changes recently or is it the same old content you have been using for a year or more? You might be busy spending time serving customers, but the later you wait to review your site content, the more out-of-date it will be and the more potential customers you will lose.

(You should have your website professionally audited every year or two.)

Copyright ©2020 by PeakWerks

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