The Importance Of Tracking Your Competition

It may seem a bit odd to observe everything your competitors do. For sure, following your competitors around to find out what videos they are watching or which forums they are actively engaged on is really stretching it.

While this will make you feel awkward, the fact is that you are just being a good business person. There’s no way you’re going to make money online without proving that you’re some steps ahead of your competitors.

So, what is it exactly that you need to track? There’s really a lot you can track. Besides what your competitors are doing, you also need to track buying trends within your niche: what products are customers buying most?

You’ll also find that it is important to track how other people are reacting to your business. If you know what is hot in your niche, then you’ll be able to strategize and plan better. Do you ever question why people should buy from you and not your competitor?

How do you prove that your product is worth their money and not your competitors’? the only way to do that is to track your competitors’ products and identify any weaknesses you can use to your advantage. That way, you’ll be more than able to prove that you’re worth their money.

Even if you’re not selling a service or product online, tracking your competition is still important. For instance, internet marketers understand that doing thorough research about your target niche is very important. Without this, you may not be able to choose a profitable niche and compete favorably.

Any kind if niche you may think of has some people already dealing in it. So that means that whatever you choose to do, there’s someone else trying to do it better. You’re increase your chances of succeeding if you learn all there’s to learn about the people in competition with you.

Here are some of the tools you can use to keep an eye on your competitors:

Google Alerts

Google alerts is perhaps the easiest and simplest tool you can deploy to track your competitors. it allows you to create an account for every individual business you want to track. You can also set it up to give feedback at specified times. depending on what you want, you can set up Google Alerts to send newsworthy information on the subject you selected every hour, day or month. This information can be sent direct to your inbox or it can be fed into a RSS reader. The best bit about Google Alerts is that it’s totally free.

BoardTracker

If you want to keep an eye on what’s being written on message boards, then this is the tool for you. you can setup the software to keep track of posts specifically by your competitors.

Whether you choose to track independent posts or entire threads, this software will let you know in an email message. BoardTracker even allows you to track yourself and you can use that feedback to improve your image.

So, you ought to know what your competition is up to so that you beat them at their own game.

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