How close an eye do you keep on your competition? Without searching on Google would you know your top five competitors? Could you name their Twitter handles, or would you know what their delivery policies are?
I speak with a lot of ecommerce traders and to be fair, the buzz word is always ‘competition’. In my role as a researcher and all round ecommerce ‘guru’, I find business owners want to know what their key rivals are doing and how to keep up with them.
For me, this approach has a problem. Why should you be keeping up with them? Usain Bolt doesn’t aim to keep up with the other sprinters; he always wants to be a few steps ahead.
Everyone is busy, and it’s tough to find a spare minute in the day, but here are five tips for making sure you stay ahead of the competition.
1 Identify your enemy
I’m sure most of you will know who your main competitors are, but it’s always worth looking for others. New businesses can spring up overnight, and if they’re offering a better service or better prices than you, you need to know.
Ecommerce under the microscope