Competition research is the practice of discovering and documenting companies that providing the same services as you. It is an essential step in designing the most effective website for your business. Competition research can also be an important component of Local SEO.
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Professional or amateur competition research?
Should you do competition research yourself?
Depends on how much time you have on your hands versus money.
Competition research is usually done by professionals who are much more efficient than you can be and more thorough as well. You also want a third party who isn’t biased and won’t be “found out” by the competition.
Competition research done right isn’t unethical, but there are some grey areas that are best left to the professionals.
I always suggest hiring someone for competition research. Your time is best building your business and providing the service not doing research.
Here are some questions we ask in our competition research.
- Are your prices competitive? Are you charging enough?
- Are there new services you could offer that you haven’t thought of yet?
- Are there new packages you could bundle?
- What is the pricing model used by your competition? Hourly/fixed bid/estimates?
- Is the market saturated with providers of this service?
- Is there a niche you can capitalize on?
- Does your competition make it easy to schedule the service?
- What keywords does your competition use in their website Search Engine Optimization?
- What review websites are they on? How are their reviews?
- Do your competitors advertise their prices?
- How do your competitors use social media? How often do they post? What do they post about?
- Should you be offering discounts for seniors or other special groups?
- What trade associations are your competitors in?
- How are your competitors marketing themselves? Adwords?
- How big is the competition’s staff? Are they full-time, part-time, seasonal, or a combination?
- What does the competition they pay their staff? Do they use a W2 or 1099?
- Do your competitors have a irresistible freebie? Online quote form? Phone number prominently listed on their website?
Looking at the questions above do you see what your company is missing? Do you see opportunities for expanding the information you provide on your website? Is your pricing and offer showcased powerfully online?
Competition isn’t just about snooping… it is to improve your company and offer. If you’d like help with some competition research our team can help.