“With confidence, you have won before you have started.”
As you may recall, this week I am discussing the different types of market research you need in your business plan to start and/or grow your company. Yesterday I talked about the first two competitive intelligence (CI) aspects you must look at:
- Competitor Strengths and Weaknesses
- Website Performance
Today, I’ll talk about the final 3 CI research areas you must conduct:
- Link Profiles
- Web Traffic
- Social Media Profiles
Link Profiles of Top Competitors
Understanding the other websites that link to your competitors is important. You may want to contact and/or partner with similar companies/websites, or use their link profiles to identify other websites to contact to link to you.
Web Traffic to Top Competitors
Among other things, understanding the website traffic of your top competitors will show their traffic trends. For example, is one competitor’s traffic rising or decreasing? Do they experience seasonal fluctuations? Etc.
Likewise, understanding which keywords are driving their traffic alerts you to the keywords for which you should focus on ranking.
Social Media Profiles of Top Competitors
Social media can tell a lot about a competitor. Do they have a large Facebook following? What about Twitter, or Pinterest, etc.? Understanding their social media profiles alerts you to the types of customers they are serving, and how customers perceive them, among others.
Let Us Conduct Your Research for You
Over the past 10 years, we’ve developed an amazing market research service in which we conduct the research you need quickly and expertly.
Having this research is critical to you getting funding (if needed) and having a solid growth strategy.
Today’s Question: In the 1925 edition of the Encyclopedia Britannica, who was credited with writing the article on mass production?
Previous Question: What state was the home of the U.S. auto industry before World War I and the rise of Michigan?
Previous Answer: Indiana.
There were once hundreds of automakers in Indiana. The last, Studebaker, shut down its operations in 1963. The Indianapolis 500 auto race, held annually on Memorial Day weekend, dates back to 1911, when Indianapolis was an auto-manufacturing center.
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