Do you know what your B2B competition is doing?
In an industry such as ours we have a lot of B2B competition and there are many factors that can set us aside from the competitors. What do you know about your b2b competition? What kind of customers are they targeting? What’s their social media marketing strategy? Are their customer’s frequently engaged with them via social media? As important as it is to keep an eye on your B2B competition, many small and large business owners know little or nothing about what their competitors are doing to reach their customers.
There are many benefits to keeping a birds eye view on what your competition is up to from conducting regular competitor analysis and having a policing list of your competitor’s details and regularly looking at their online activity which will give you the ability to develop your strategy around what the competition is doing and stay ahead, also you will be able to see their weaknesses (i.e. customer service issues) and you get great ideas to improve your own strategy.
So, what are good methods for spying on your B2B competition? According to the Small Business Marketing blog from Duct Tape Marketing, setting up a competitive listening station is the best way to keep tabs on your competitor’s social activity. Here are some good places to start:
- Create lists to monitor their social activity on Twitter, LinkedIn, Google+ and Facebook
- Research their brand on SocialMention
- Find and follow their YouTube channel
- Subscribe to their Yelp RSS feed and monitor their reviews
- Subscribe to their blogs using tools like Feedly or Feedbin
Tracking others' performance will give you a critical business edge," she stresses. "What you can learn depends on the level of detail you go into, but just by looking at your competitors it's possible to track new trends, corporate positioning and diversity of products or services, right through to customer relationship management and marketing promotions.
At Whoisvisiting we have a lot of B2B competition to keep a birds eye view on, such as Lead Forensics, Wow Analytics, and Hubspot the list goes on, as great as these companies are there are disadvantages to using their services such as long term contracts, and pricey packages, our competitive edge comes from staying ahead of the game and giving our users exactly what they want in a nice and simple form.
Staying ahead and trying new and exciting things will give you enough competitive edge to catch the attention of new clients there are a lot of businesses out their selling the same products and same services, why should they come to you? Be creative and stay ahead of the game! Whoisvisiting can give you the power to know when your competitors are looking at your website!
Sorting these visits into the appropriate category and taking note of their visitor flow can give you the insight you need to be able to identify what of your services or products they see as a threat to their business, being able to access this information gives the power to be able to take the appropriate action to act upon what your competitors next move might be!
Maybe they will lower their prices on products/services that are the same or similar to yours! Maybe they will take a more aggressive approach and tailor their online presence to steam ahead of yours! Its up to you! make the right choice and sign up for a 14 day free trial.