How do you outperform your competitors in the market

Sahl Tuesday,24 Sep 2024

Analyzing competitors is an essential step to the success of your store. If you know their strengths and weaknesses, you can benefit from them and surpass them in the market. Here are some points to focus on:

First, follow the prices of competitors' products:
See how they set their prices, and adjust your prices accordingly. If you have a product of the same quality, try to raise the price with additional features, to strengthen your presence in the market.

Second, see the quality of their service:
How do they deal with customers? Do they have working technical support? This information helps you develop your services. Understand how you can provide better service by reviewing customer complaints.

Third, monitor their marketing strategies:
See how they market their products, and learn from their mistakes and successes. Try to benefit from these strategies and improve them, whether through social media or advertisements.

Fourth, look for gaps in the market:
If there is something that is not available, try to meet it in your store. This opens up new markets for you and increases your customers. Think about offering products or services that competitors lack.

Fifth, follow up on customer opinions:

Read comments and reviews about their products. This information gives you an idea of how customers view them, and how you can better meet their needs. The clearer your vision is, the greater your chances of success.

Ultimately, competitor analysis is an ongoing process. You must follow the market periodically and be ready to adapt. The more aware you are of market changes, the greater your chances of outperforming competitors.