Competition has been there in the marketing field for a very long time. The only difference now is that with the increase in the number of businesses, competition has also increased. Each and every company, whether small or big are putting their best efforts to be on the top. But apart from enhancing your business and marketing strategies, you also need to take an interest in your competitors' activities. Because they might be good at something which can break your business later. Therefore, it is always good to get closer with your competitors and spy on their activities. In case, you are not able to decide from where to get started then check out the list mentioned below.
Follow your competitors' social media pages and blogs
First of all, list out all your competitors and follow them on social media. Also subscribe to their newsletters so that you will get to see the latest products they have launched, new features they have introduced and much more other updates. In this way, you can get some insights about their strategies and improvise your business accordingly. So, if you are not tracking your followers on Instagram then make sure to start doing as soon as possible.
In case, you don’t have enough time to track their movements frequently then you can also take help from several automation tools which are specifically designed to perform all these kinds of activities.
Monitor their brand
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| spy on your competitors |
Knowing the success and failure of your brand is important, but knowing the strength and weakness of your competitors is even more important. Therefore, spy on your competitors and take advantage of their weakness by thinking of a clever marketing campaign.
You might remember the buzz created when the news of bending of iPhone 6 plus got viral on the Internet and social media platforms. So many companies have taken advantage of this news by launching the product with more advanced features. Likewise, you can also benefit your business with brand monitoring.
Notice their popularity
It is not necessary that if a brand is having thousands of followers and likes of social media does not mean they are having more visitors and customers. They might have just invested lots of time and efforts in order to develop their social media presence. There are chances that a startup company is not much acclaimed on social media but have huge traffic and can beat you in the next couple of months. So if you want to get the approximate idea of your competitors' popularity, then the best way is to check out the traffic on their website. There are certain tools available in the market through which you can get a rough idea about their visitors.
Hence, by following these tips you can successfully spy on the ads, marketing strategies and other aspects of your competitors. The only thing which you need to take care of is to not copy the ideas of your competitors and try to make your own strategy.
