Gathering competitive intelligence is an often overlooked strategy for ecommerce merchants
Sometimes the best way to take your ecommerce store to the next level is by gaining a deep understanding of how your competitors operate. If you don’t know what your competitors are doing, it’s difficult to make intelligent decisions that will keep your current customers, and entice new ones. This guide will show you how to identify your top 5 competitors and show you 8 tools that will help you gather in-depth information on your competitors strengths and weaknesses.
Identify Your Top 5 Competitors
You’ll want to see which competitors rank the highest in Google for keywords specific to your industry. Make a list of the top keywords that bring you traffic, and enter them into Google. If you don’t have an ecommerce store yet and are doing pre-launch research, simply search for relevant keywords. Make sure you’re browsing incognito and you’re in the appropriate regional zone. Make note of who is ranking on the first page.
List the Good, Bad, & Ugly
Now that you know who you’re up against, start browsing through your competitor’s online stores. Get a good feel for their site, and make a list of all the things you like, and all the things you don’t like. Ask yourself these questions:
¦How do they emphasis their value proposition?
¦What are their prices like compared to yours?
¦What is their product photography like, and how are their product descriptions?
¦What are their shipping options and prices like?
¦Where are their call to actions, and how obvious are they?
¦Are they trying to build an email list?
¦Is their site optimized for mobile?
¦What is their social media presence like; which platforms do they use; how often do they interact with customers, and how do they speak with their customers?