competition

Who is my competition?

Before starting a business, you have to know who your competition is. You can learn more how they do business, how they succeed and how to give solutions to their problems. There are many ways on how to know more information about your competition.

You can start by doing a Google search or visit your competitor’s website. There are other tools that you can use to search more about them. Search about the keywords they are using, what is trending, and who are talking about you.

Search more with the help of some organizations who can tell you research and studies about the people who are your competitors, where are they trending, and what market you can target.

Use the social media. Social media is one of the easiest ways to inform customers about what is latest, updates, or news. You can easily subscribe or follow your competitors and learn more about their products, services or events they have or they will attend.

Do not forget to ask your customers. If you have a new customer, ask what product or service they are using before they switched. It is also the same if you lose a customer. Ask what they like about the product or service of your competitors. From there, you can learn and improve your products or services.

You can also attend industry trade shows and conferences. This is a good way to learn more about your competitors and what they offer. Visit your competitor’s booths and observe how they interact with customers and check their products quality.

Talk to your suppliers. If you and your competitor have the same supplier, this is the right time to ask them. They may not answer your questions though you can ask other questions that just might lead you to what you want to know.

 

Contact Sage Solutions Philippines for business consultancy services. Just follow the link: https://www.sagesolution.com.ph/contact/

Reference: www.inc.com

Photo source: freepikc.om

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