January 20 2010
Get Paid to Keep an Eye on Your Competition
Tagged Under : Competition, Keeping an Eye on Your Competition, Reaching Out To The Competition, Rich Kid's Campus
Do you know who your competition is? Knowing your competition is a big part of your future successes and failures. I am not a fan of recreating work that has already been done. Maybe you never thought about this before, but your competition actually has a lot of positive influence on your business. You may be asking yourself how that is possible? Well, let’s explore this phenomenon.
Determine Who Your Most Successful Competitor’s Are
This is actually the first step for many people before they venture into a new niche. However, the buck usually stops here. As a general rule of thumb I like to explore my competitor’s website about once a month. Why? You can see what it is they are doing. If they took something down it’s probably because it was not successful so don’t bother trying it. If you see them pushing a certain product a lot, than you know it’s probably profitable for them.
In addition to understanding their revenue streams you can also determine their overall strategy for their website. Are they trying to drive traffic? get people to sign up to their mailing list? are they doing a lot of product reviews? etc. You can get a firm grip on where they are heading.
