We've always been told that competition is healthy, and that we should always embrace it in business. However, the bitter truth sets in when your competitors seem to be getting a bigger share of the pie always.
It makes you want to quit business and it kills morale. If you've been in this situation and you’re just wondering how to beat them, use these tips on how to spy on your competitors to put a stop to your worries.
1. Follow Them
When you follow them, you learn how they engage customers, what their strategies for doing so look like and what kind of content they are posting. So, beat them in their own game by signing up for their newsletters, social media pages and any other avenues they use to interact with their audience. Your duty is to watch.
2. Become a Mystery Shopper
If you want to get a feel of what they are selling, as well as what their customer experience is like, just buy an item from them. This way, you can gauge their communication with customers, their products when delivered to customers, as well as their post-sales customer support to see how you can improve on them.
3. Ask Questions
Visit their social media pages, or use any other means available to reach them. Your aim is to see how fast they respond to questions as well as their level of knowledge on the same subject.
4. Submit a Complaint
Again, the aim it to gauge how fast and well they respond. Do they leave customers hanging, or do they guide the customer to a resolution? Using Technology To Your Advantage is Key!
5. Monitoring their Ads
If you have the above steps handy, now it’s time to learn how competitors set up ads, which key words they use and where they advertise. You can use tools such as Moat, AdBeat or even AdGooRoo to see which keywords they are using.
If you liked these 5 easy ways to spy on your competitors, check out 5 more in Part 2.