How do you compare yourself to your competitors?
How do you go about comparing yourself to your competitors?
Keeping track of your small business competition is one of the best things you can do to make informed decisions for your own business. Take note of competitors' pricing and popular products. Pay attention to social media by noting what their customers are complaining about or praising them for to gain insight into what's working and what isn't. Track their marketing campaigns to find what trends there may be in advertising placements and design.
Don't forget to define your advantages, which can only be done with thorough research of their strengths and weaknesses. Whether your customer service is top notch or you have a specific product feature no one else has, find your advantages and focus on them! Lastly, make your business exceptional.
To give your business the best chance at long term success, focus on creating a unique story and show you bring value to people's lives, no matter how big or small.
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