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Why You Should Track Your Competitors Online

For a long time now, competition has been a major driving factor for businesses. As a business owner, one of your main tasks is to know what your competition is doing and do it better than them. To keep up pace with all your competitors and to be the best in every aspect, you need to track them and their activities on a regular basis. One of the easiest ways to watch your competition is to track their content online. Doing so will give you an insight about their plus points and also throw light on some of your weaknesses. Here are a few more reasons why you should track your competition online.

Offer better products

To be successful, your aim as a business owner should be to make your customers happy. The best way to do this is to offer quality products that they can use, at prices they can afford. At the same time, you should make sure that your products are superior to your competitor’s products and offer more benefits than the rest in the market. Browsing your competitor’s websites, staying up to date on their product offerings and the features of their products will help you design and offer better products for your customers.

Know about the markets they are targeting

By tracking your competitor’s online content, you would be able to identify the niche markets they are targeting. This will give you an idea about your competition’s market share and what you can do to increase your hold on these target markets. Online content you should look for here includes blog posts, videos, tweets, Facebook posts, articles, etc. Also, you can make a note of the sites that your competitors are using to market their products, to know the kind of markets they are looking at.

Keyword strategy

Tracking your competition’s online content will give you an idea about their keyword strategies. Keywords play an important role in attracting the right kind of customers to your site, and knowledge about the competitors keywords will help you use them correctly. You can know what keywords or phrases the others are using and where they are using them to attract the amount of traffic they do. This will allow you to devise a better strategy and find effective niche key phrases that can help in improving your site’s page ranking and in attracting better traffic.

Learn about their reputation, and yours

Tracking your competition online will tell you how they are performing in the market, and where you stand compared to them. Customer feedback plays an important role in improving your products and services, and feedback about your competition’s products will tell you what your product is lacking or having. To know what the market report is about your competitors, find out what the users are saying about them on social networking sites, forums, chat rooms and other interactive media channels. Not only that, you can also know the kind of propaganda your company is getting on these sites and how users rate your products in comparison to the other products in the market.

Improve your website

Keeping a track of your competitor’s website will help you stay up to date about any changes they make to their site. By using the right tracking tools, you can keep a track of any significant content changes, structural changes, changes to products categories etc on the website and also analyze how that is affecting the flow of traffic to the site. This information can be used to beef up your site aesthetically and structurally.

Remember that you should use of right tools that provide accurate information to track your competitors on the net. If you try to use cheap tools to save a little money, you could end up with useless information and worse, even lose to your competition.

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