Know Your Competitors
Explore how to understand competitors effectively when expanding your business globally. Learn to leverage market research, SEO, marketing campaigns, and customer support insights to identify market opportunities, benchmark performance, and differentiate your brand for successful growth.
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Understanding competitors while expanding a business is crucial. It helps identify market opportunities, benchmark performance, differentiate from competitors, adapt to market changes, and learn from mistakes. By analyzing competitors’ strengths and weaknesses, businesses can uncover untapped areas for growth. Benchmarking against competitors sets realistic goals and highlights areas for improvement.
Let’s understand how each of the four steps—market research, SEO, marketing campaign, and customer support—can help us understand competitors while expanding a business globally.
Market research
Market research helps understand competitors when expanding a business globally:
Identify competitors: Market research can help us identify the major players in our industry within each target market.
Analyze competitor strategies: We can gather information on competitors’ product offerings through market research. This includes insights into competitors’ pricing ...