June 21, 2019 Last updated June 20th, 2019 109 Reads share

Tips To Efficient Monitoring of Business Competitors

Tips To Efficient Monitoring of Business CompetitorsImage Credit:

Tips To Efficient Monitoring of Business Competitors

Monitoring your competitors’ businesses should be on top of your agenda if you are to be equally competitive. Changes in the market are inevitable and any move by other players shouldn’t surprise you as long as you are braced for it.

 

Competitive analysis helps you assess any potential threats beforehand, uncover new untapped market areas as well minimize losses through anticipation. It generally helps you stay on toes – a crucial element for your business to thrive and be consistent.

 

Besides, every strategy starts with the research and the most basic yet profitable research is your competitors. Here are some tips that’ll help you make the most of your competitors monitoring.

 

How online tools are helpful in monitoring competitors

 

Online tools have thus far come in handy to aid businesses in monitoring the ever-dynamic competitive landscape. They are easy to use, convenient and always updated. The fact that you can get a whole bulk of crucial information at the click of a button or by using a keyword underlines it as a very affordable means.

 

Another thing so compelling about online tools for competitor research is they are a lot cheaper than big on-field researches. Which make them a go-to choice for small business and solopreneurs.

 

Furthermore, online tools are found in a great variety thus giving you and your business plenty of choices to pick from.

 

 

Page from guerilla marketing book – use a phone lookup as a tool to monitor competitors

 

Well, in most cases, it is possible to come across an anonymous number on your phone. It is very likely that you may overlook and deem it unimportant. However, it is advisable to use reverse phone lookup to fish out more data regarding the person or business in question.

 

This method simply traces the number back to a central database, conducts a phone number search and issues all firsthand information such as location, area code, name and general directions regarding the person or firm. It helps a business obtain critical data about its competitor’s whereabouts and operations.

 

In addition, changes regarding products, product diversification, and location are comprehensively monitored and taken note of. This gives your business the heads up it needs every single time. Phone number lookup services take things to a whole new level. It works by providing a search box where the number in question is keyed in and results displayed shortly after.

 

This tool helps you gather leads pertaining to your competitors and their activities. It can deliver a lot of crucial information regarding competitors’ research. You can find out the reviews on your competitor, their investment data as well as their court records (if there’s any).

 

Additionally, you get to monitor what they do and effectively plan ahead using decisive and counter-based strategies. Since this service is internet-enabled, monitoring of online social activities of your competitors becomes relatively easy in addition to protecting yourself against malicious tricks coined by your business rivals. This ultimately sets the stage for the optimal growth of your enterprise.

 

Other online tools to monitor your business competitors

 

BuzzSumo

This tool helps you to dig out on important aspects of your competitors including their online activity and marketing strategy. It aids with vital data on why your competitor is performing so exceptionally well in the competitive market.

 

Importantly, it snoops on why a particular firm’s content got positive reception and reviews in the public domain. On top of the aforementioned, BuzzSumo makes your competitors’ research worth it by giving suggestions on the latest and most marketable themes that your content could potentially utilize.

 

Ahrefs

Ahrefs is a keyword-oriented online tool that helps you know where your competitors rank based on a particular keyword definition. Through an all-in-one window, this service enables you to see information about your site’s backlinks, organic keywords and the overall rankings of your business.

 

Additionally, it equips you with data regarding best performing content, top ranking keywords as well as keep an eye on diverse metrics for performance. Simply put, you can cut through any content quality using a keyword and point out where your business rivals are getting the backlinks from.

 

Google Alerts

It enables you to maintain a keen eye on your competitors by ideally keeping track of the social media activities of the former. It is a notification and content change service that uses web pop-ups to let the user know of variations in the market while making use of a particular keyword.

 

Google normally indexes sites and google alerts utilize this feature by keeping tabs on what is new or trending in regards to the keyword set up in the alert segment.

 

SpyFu

This one is not as popular as previous ones, but it’s definitely worth a try if you’re looking for insights on your competitor’s digital strategy. It keeps track of both organic and paid traffic competitor’s website is getting, along with information on keywords they use.

 

Among other options you also can dive into information on backlinks your competitors have to their website. So with SpyFu, you can improve your own content strategy, SEO and the overall digital efforts by making research on your competitors.

 

Final Thoughts

 

You cannot afford to lag behind and give room for your competitors to thrive simply because you are failing to keep track of their activities. Stay one step ahead and effectively monitor the latest moves, content, and marketing strategies of your competitors using the easily available online tools and services. It will spur up your business performance in all spectrums.

 

And don’t forget that competitors monitoring is not a one-time thing, it’s a continuous process and with tools above it won’t take you many efforts and won’t distract you from your other responsibilities.

 

Analytics

Mark Meyer

Mark Meyer

Mark Meyer works as the content manager at Spokeo. His field of expertise includes business, marketing, and self - improvement. In his spare time, he enjoys hiking and surfing.

Read Full Bio