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4 Steps to Do Competitor Analysis
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[QUOTE="Mika, post: 230434, member: 29399"] Whether you are a business owner, a website owner, a forum owner, or just a simple freelancer, you should do a competitor analysis. When you do competitor analysis, you will sell more products, you will get more visitors on your website, you will get more users on your forum, and you will get more sales on your freelancing services. Competitor analysis means finding your strength and weakness. Once you know what your strengths and weakness are, you can use your strength to convert your weakness into your strength. You need to build a proper strategy and your strategy should include things like improving where improvements are needed, finding what your audience wants, and finding the most effective channel for your business is. Simple things such as knowing what platform your competitor uses to advertise their products or service, how do they build traffic, how do they generate sales, where their customers are based will greatly help you. If you plan to run ads, knowing where they advertise, where their ads appear, and what their ad conversion rate is will help you plan your marketing and advertising campaigns. You should always devise a plan to outperform your competitor. Your product pricing should depend on your competitor's price for a similar product. [/QUOTE]
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