Identify Your Competition
A competitive market requires very little marketing effort to make money. Also the market has a lot of customers. Since the essence of getting your business online is to reduce on the overheads, large number of customers and less marketing costs is a big advantage to the online entrepreneur. Today, we will discuss on how you can identify your competition. Advanced competition analysis will be done later in the course on the Online Marketing section.
In identifying and finding your competitors, you need to identify the people that are dominating your niche online. The best way to do this is by doing a simple google search. Head to google.com and Search for your niche keyword and location, then pick the following:
- Websites that show on the first page of google search results.
- Social media pages and profiles on the first page of google search results like facebook, twitter, linkedin, google+ or youtube, pinterest etc.
- Blogs on the first page of google search results like blogspot.com, wordpress.com, livejournal.com etc
After you come up with the websites, blogs and social media profiles, do the following:
- Note the website address (domain name). This will assist you in selecting your domain name in the next section
- Go through the websites and look at their design and content. While designing your website, you will borrow from the websites.
- Check at their social media networks pages and profiles. Note the number of likes, followers or friends. This will be relevant in Online marketing section.
- Check the number of posts that each blog has.
- Note the websites that have their correspondent website address and their social media profiles and blogs on the first page of google search results.
- Note of the competitor that has more than one page of its website on the first page of google search results.
- Also note of the competitor that have listed on google places.
You have just identified your competitors and done a little analysis of them. This information will assist you in the next levels of your online business startup.
You can now record and save the above findings in a document. You will be referring the information as we move on.