Set the target: how to do a competition analysis in e-commerce?
The analysis of competition is fundamental for any company that seeks to stand out in the market. If you create a virtual store without the same information you are doing the shopping, you also have to reshape your business as well as the problems of a knock at the door.
The advantage of e-commerce is that everything on the web is measurable. With a few clicks and a little patience, you can get relevant performance data from rival platforms. So you can find opportunities and difficulties in the front that do not do a homework.
Know the best practices for an effective competition analysis? Keep reading and check out our tips!
Search by background who your are
You may worry about that, but there are many points at the time you want. Generally, the starter starter already exists in your segment. That is why we need to go deeper into the research.
A good practice is to gather as key keywords for which you want to be found and type in the search engines. Thus, you visualize how the companies featured in the results and start analyzing. Often, with this, we end up discovering new parameters that we have recently gained strength.
Take a SWOT analysis
A SWOT analysis, also known as FOFA here in Brazil, serves individuals as strengths, weaknesses, opportunities and efforts of the company. So the chances of error in our business.
When it comes to identifying opportunities, for example, it's clear that it's going to do what rival brands are doing. You may have an idea about what an empty service is, it can be a loophole to stand out. Therefore, a SWOT analysis helps you deal with the aspects of the market in which it is embedded.
Create public searches
And that our perception about some brands are not like their elements of the public. Therefore, it is necessary to create surveys to know, in fact, a consumer opinion. The two types of tools for creating forms, one of the most popular is one from Google.
The most important thing is to produce the questionnaires well before sending them to people. Another caution you must do is for participants not to know which company is doing the research, as this can influence the results. After collecting the data, it is advisable to put everything together in a spreadsheet for easy analysis.
Use technology in favor of your
As we said at the outset, everything on the internet is measurable. So there's no reason not to get the most out of customer information. It is not always updated with the means of observation and research with the public, so ideally you use a tool that provides this data.
In this case, you can use SimilarWeb. It is a platform that offers the same complete competitor accounts, such as:
- number of visits;
- ranking position of the search engine;
- origin of traffic;
- time users spend on the site;
- interests of the audience.
Did you realize how difficult it is not to collect information for your e-commerce and thus to do a complete competition analysis? However, disclosure issues are also visible for failures.
Want to dig deeper into the subject? So read the article on Google Analytics metrics that you should always follow!