Do you follow closely your competitors and try to predict their next step or you are simply putting all of your efforts into building your own business wiith having just a quick look on your competitors. Personally I think it is good to keep an eye on them , how ever it is more important to think on developing our own business. The only thing we carefully follow is that we need to make sure we actually have the lowest price of our legal document templates if we state so.
How about you? Do you know your competitor`s business better than your own or you care about them to a reasonable extend and focus more on what you do?
You can use google alerts and talkwalker to monitor what they're doing online at least, by entering their company name or key personell, if they do a PR piece etc the above tools will pick it up and send you an email..  1upsearch
Spyfu is good for researching what keywords and adwords your competitors are buying. I think it is important to keep up with what your competitors are doing, even if you only have the time and resources to do it at a basic level. It means you can be more proactive with regards to changes in your industry. CenturionSigns
“I constantly carry out competitor analysis. It's essential.” Would you mind sharing your experience and probably methods? Fixed Fee Legal Services | Bespoke Document Drafting | Document Templates
“I constantly carry out competitor analysis. It's essential.” I second that. For online business, things can happen and change very quickly. Most people have 2 or 3 competitors they are aware of. By monitoring these, you can understand how they have reacted (or not) to new changes. Maybe they've rebranded, or changed direction? If so, then why? What do they know that you don't, has it worked for them? Maybe they've dropped the ball, in which case learn from them and avoid similar mistakes. So I agree, it's essential. There are a variety of tools out there, depending on your type of business, but google alerts is a quick and easy one to set up. After that, it's down to personal preference, and if you are willing to pay for a subscription for more advanced tools, or stick with freeware ones.
Thank you very much for the great answers. I would recommend SEO Spy Glass for competitor research. However the free version is quite limited  I liked checking the backinks when Yahoo worked and Blekko was free, however today I find it difficult to find a good serviceFixed Fee Legal Services | Bespoke Document Drafting | Document Templates
It is always wise to understand what your competitors movements are within the market, so keeping an eye on them is an important element that can help develop your own business. Further to this though its just as important to conduct research amongst your existing customer base as they are key; especially if your business relies on repeat purchases. The more you pay interest in your customers and their requirements the more they will stick with you. Business Development
“Well thanks, i do not even know this tool. I would use it for help in mu business. If you know some other tools, then kindly tell me about those ones. Thanks” Well, if you follow this thread I believe more and more people will share some ideas on how to make a proper competitor research Fixed Fee Legal Services | Bespoke Document Drafting | Document Templates |
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