Every single business has a competitor, regardless of how niche they are in the market. It doesn’t matter what industry or sector you work in, you have a competitor that’s looking to take the same customers you are trying to reach. With that in mind, you can actually learn a lot from your competitors and it’s a great idea to keep a close eye on them according to digital advertising and marketing professional Jeff Kamikow. Remember that old saying keep your friends close and your enemies closer? Well, it’s definitely a saying to live by because it can help you rise above the competition. Let’s take a look at what you can learn from your competitors!

How To Find What Works Best

There are many different marketing strategies that you could use to reach potential customers, but why play trial and error when you can see what’s working for your competition. Perhaps they are using webinars or social media posts to promote their products or service. If they seem to be working and getting engagement, you can take that idea and make it better. It’s important to capitalize on the things that are working because you don’t want to miss out on any opportunities.

Localizing Your Business

Perhaps you have a competitor located in the same area as you and when you search for a specific term that’s associated with your business, what appears in the listings? Is your competition appearing before yours? If so, that’s an issue. More and more internet users are taking advantage of localized searches by typing in the product or service they are looking for, followed by a town or state. You could create local pages to cater to these specific keywords and rank better for localized searches.

Learn From Their Mistakes

Every business can make a mistake, that’s just reality, and if you notice your competition making some sort of marketing mistake that’s not working for their business, you can avoid that specific strategy. Perhaps they are targeting an audience that’s not really interested in the product or service. That could give you some insight on your own target audience and it’ll help you craft a strategy that’ll be more beneficial.

Always keep a watchful eye on your competitors because it can help you in the long run!