Competitive Analysis For Small Businesses
Competitors are everywhere. Literally. From down the
block to Down Under, firms are competing with you for
customers. Do you know who your competitors are? What are
their price points?
How does your brand compare with your competitors? Is your
website competitive?
Where do your customers come from? How many local
competitors do you have?
When you do a search for products and/or services like yours
where are you on the listing for SEO (Search Engine
Optimization - non-paid)? Are you doing click through
advertising? Are you getting results? Do you know how to
manage a Google ad campaign to match your competitors? Are
your products and services benefits able to satisfy your
potential customers needs?
How does your brand compare to the strengths and weaknesses
of your competitors? Why is a SWOT (Strengths, Weaknesses,
Opportunities, and Threats) analysis a critical tool for a
competitive analysis?
Competitive analysis can help you clearly understand what it
is that you need to do increase your sales and brand
position in light of competition. |
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