To run a successful business, you have to know your competition. Every business plan, whether you’re a start up or have been in business for years should consistently analyze its competitors, so you can make sure your customer purchase experience is a positive one compared to other options out there. What’s the best way to understand your competition? Become a customer. Yeah, that’s right. Step into your competitions’ customers’ shoes. Experience their buying journey and understand what your competition does well and what it doesn’t do so well.
Here are ways to learn about your competition. Look at their websites. Is information easy to find? What are they offering? Are their prices competitive? Let’s start with how you can learn more about your competition.