Competitor Analysis: How to Beat the Competition

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Competitor analysis is an essential marketing strategy in the world of ecommerce. Every entrepreneur , whether dropshipping or running a brick-and-mortar store, checks out their competitors.

That is why, if you want to be successful in this business, it is essential that you also start keeping an eye on your competition.

What kind of social media marketing choices do they make? How do they interact with their customers and prospects? What marketing strategies work best for them? These and many more are the questions you should find answers to as soon as possible.

In this article, you will discover exactly what competitor analysis is, how and why to do it. In addition, you will discover which tools you can use to make competitor analysis easier, and how thanks to this research you can finally overcome it.

But let's start from the beginning...

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What is competitor analysis or benchmarking?
As you can easily understand from the name itself, competitor cambodia email list analysis is a process that allows you to identify your competitors, analyze their sales and marketing strategies (organic and paid) and their communication (from brand image to tone of voice) through the use of specific tools and models.

The information collected is used to improve your strategies in relation to those of the top performers, understanding what their strengths and weaknesses are and therefore studying a positioning for your brand that has the best potential for success.

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It is an activity that should be done before creating an online store, but also every time you launch a new product and occasionally also at other times of the activity. In general, it is always good to keep an eye on the competition, not to copy but to always stay up to date and look for new inspirations.

Competitor Analysis: Why It's Important
Performing competitor analysis periodically has a double benefit: it allows you to identify potential opportunities, but also potential threats.

If a direct competitor of yours decides to add a product to their online store that you hadn’t considered, keeping tabs on it will allow you to evaluate whether or not to add the same type of product to your store, so you don’t get left behind.