Ecommerce Competitor Analysis: How to Keep an Eye on Your Online Rivals

If you are not the unique producer of the products you present on your online store that means you are in a competition. Competing in ecommerce starts with describing the competition. Describing the strong and weak sides of your competitors who sale similar products and also guarding against them is one of the most important point of a sustainable ecommerce. First of all you need to be able to describe your competitors to make competition analysis. Probably you know some of them but you can easily find your most important competitors making a few research. We will start with preparing a competitor list and then we will help you to have a competitor analysis table which is very important for your business by evaluating your competitors according to 11 various measures. Related Post: Shine Up Your Ecommerce Business: 5 Quick Tips to Beat Your Competitors We, Shopio, put in order most frequently used methods to determine your potential competitors. Here is the list of these methods:

  • Competitors that you already know

  • The top ecommerce sites when it is researched with your target keywords

  • The ecommerce sites which pubblish search engine ads with the same keywords

  • The websites which is situated among the references of the suppliers who supply the products like yours

  • The websites who share on this issue on social media like Twitter and Facebook

  • Ecommerce sites whose ads pubblish on the sites that your target audiences follow

You have the list which you can analyze their situations only following these items. Now it’s time to evaluate that which kind of advantages and disadvantages for some measures they have. You can start with visiting their sites to evaluate. Related Post: SWOT Analysis: Definition and Examples for Ecommerce You need to give points objectively to your competitors for various factors that affect the decision of the customer. Here are 10 various factors that affect purchasing process.
  1. Visuality
  2. Content
  3. Product range/quality
  4. Price – payment options
  5. Customer services
  6. Shipping options
  7. Social media marketing
  8. E-mail marketing
  9. Search engine optimization
  10. Advertisements
You can evaluate some of these factors just visiting the sites of your competitors but you may need to spend some time for some of them. For example, to evaluate the success on e-mail marketing you need to sign up to all of your competitors e-mail lists and follow their posts. To evaluate the success on customer services you need to purchase on your competitors’ online stores and you need to evaluate the services they provide after the sale. Give points to all of your customers based upon these 10 measures and then calculate all of the points. The ones who get the highest point are your serious competitors. Here, we’ve presented a competition analysis method that you can carry out easily. If you have another methods to measure the competition you can share them below…

Comments

Try Shopio for 14 days free!

No risk, no commitment, no credit card required.