Unless your product or service is so unique that no one else is offering it, setting yourself apart from your competition can be key to your success. But how much do you really know about your competitors? Who are they? What do they stand for? How do their products and services compare to yours? What are they up to in the marketplace? And – most importantly – what are their vulnerabilities?

Keeping tabs on your competition can be a valuable part of your on-going marketing efforts. Once you’ve identified who they are, there are many ways to learn about them.

10 ways to check out your competitors 

1. Visit their websites. It might seem obvious, but a surprising number of business owners fail to do this.
2. Download their marketing materials. While you’re on a competitor’s website, download their brochures, special reports, etc. If contact information is required for the download, be sure to use a “generic” email address for this, rather than one that clearly identifies you and your company.
3. Sign up for their email lists. Once again, use that “generic” email address when you do this.
4. Read their social media posts. This can be a great way to find out about new products, promotions, content, etc.
5. Visit their retailers. If you sell a retail product, get out to the stores on a regular basis and take a look at the competitors’ products, which are probably sitting next to yours on the shelf.
6. Buy their products. If it’s feasible, order something from your competitors every few months. This is a great way to check on their products and their customer service.
7. Attend industry group meetings. It’s often possible to meet your competitors face to face in a friendly environment. People like to chat about what they’re doing, and often say more than they should.
8. Go to major trade shows. Walk the trade show floor, go to the receptions and attend the seminars. Talk to everyone you can and learn as much as you can.
9. Read the trade journals. Or, in today’s digital world, follow the trade information websites. This can be a great way to stay informed about the competitive landscape in your field.
10. Use Google Alerts. Set up Google Alerts for your competitor’s company, brand and product names, as well as other industry-related terms. This will bring useful information straight to your email inbox.