In order to be competitive, you have to learn how to acquire useful data about your biggest rivals: their pricing, the details of their promotional campaigns, their social media activity, etc.
Without proper tools this would be impossible, but with the right application you can learn almost everything about your competition and use it to improve your own offer.
Solutions presented in this article are legal, easy to use and incredibly effective, if you know what to do with acquired data.
There are a few Google tools, which are very handy for online entrepreneurs turned spies. First of all, Google Alert. If you have a few strong rivals, against whom you are constantly competing, you should keep an eye on them all of the time. The best way to do this is to use Google Alert.
This solution allows you to monitor all new content published by your competition, from a new product addition to the start of seasonal sales. You can receive reports about their activity as often as you want and directly to your email box.
If you want to be one step ahead of the game, you should also regularly use Google Trends to know which specific keywords are the most popular in your region right now.
Google Trends are also a great starting point for planning Magento ecommerce website development and choosing the best keywords for your next search engine optimization campaign.
Comparison Shopping Engines
Knowing the pricing of your rivals is crucial for making sure that your offer remains competitive. In order to track the change in price and to know whose offer is currently the best, you should start using comparison shopping engines, which collect product information from dozens of competitors and display them on one page.
By adding your own offer to a comparison shopping website you can also increase the probability that your customers find your products, so this is a must-do move.
Which comparison shopping engines are the best? Google Shopping is the most popular comparison shopping website and it is integrated with other Google tools.
Shopzilla, on the other hand, has probably the largest catalog of products among all comparison shopping engines.
SEO Tracking Tools
Learning more about how your competitors promote their products and services can help you design your own marketing strategies. There are a few tools for tracking search engine optimization techniques used by your competitors.
SEMRush is one of the most advanced solutions, which is extremely helpful in finding out which keywords your competitors use and how effective these keywords are.
Majestic is another SEO tool, which you can use to track backlinks your rivals have and discover the source of these backlinks. By applying these tools you can determine which keywords are used by your competition or how to obtain backlinks.
Now all you have to do is plan your own SEO strategy, hire affordable Magento backend developers and put your plan into practice.
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Alex Buka is a writer and Social Media Marketer in the Magento custom development company with 3+ years of experience in SEO, IT copywriting and social media management.