5 Ultimate Ways To Conduct A Competitive Analysis For Ecommerce Business
When you are ready to conduct a competitive analysis on your own, follow these steps to ensure that your research is organized and structured.
Start with Google, Amazon, or Alexa searches for your product and business idea to find relevant competitors.
Step 1: Make a list with 7-10 competitors
Keep track of the data you gather about this group of competitors and organize it in a table or spreadsheet that is easy to share and update over time.
Step 2: Make a spreadsheet
Begin with your competitor's list and categorize each one as a primary, secondary or tertiary competitor.
Step 3: Identify your primary/secondary competitors
You can use many tools to make your competitive analysis easier, more efficient, or more accurate. Few essential tools are,– Ahrefs– SEMrush– SimilarWeb– Mailcharts– Buzzsumo
Step 4: Collect data via tools
Doing competitive research alongside the software and tools you use is a brilliant idea. Take on the role of potential customer to see what your competitors are doing in marketing.
Step 5: Perform some hands-on research
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