Analyzing the Competition

Sizing up the competition is critical to any business, but in the ecommerce world, you have a lot of tools at your disposal. First off, you’re able to immediately become a customer by visiting competitors’ websites, making purchases, and even signing up for their email subscriber lists. The tools afforded by web analytics and even search engines, makes measurement easier than ever before.This unprecedented access to data means that everyone should be conducting thorough research on his competitors. Stay ahead of the game by conducting a SWOT analysis, which we covered earlier, and don’t forget to conduct a self-assessment as well.

This week’s checklist is a guide for analyzing the competition and putting yourself in the best possible position within your market.

EFSChecklist_Analyzing_Competition

By: Shirley Tan