If a seller’s competitors are selling more than they are, there could be various explanations. At the same time, though, there are some common root causes. And they usually boil down to not knowing the target niche or understanding the competition.
You can’t get out of your own way
The lost business is understandably maddening. But you have to avoid anxiety and animosity towards the competition. Instead, when competitors are selling more than you, it’s time to get down to business and understand why it’s happening.
You don’t know the competition
One way to find out more about your competition is by searching for your specific products and keyword phrases to see what comes up.
Keep in mind these terms might be called different things by different customers, so you’ll also want to do searches using some variations. For each search, analyze the descriptions that show up in the search results.
This will give you a good indication of your competition and who their target markets are. More importantly, you’ll then know how to differentiate your business.
You’re not getting your message out
It’s up to you to get your messages and products to your target audience, clearly and effectively. If you’re struggling with this, then try keeping tabs on your competitors to see what they’re doing successfully.
For example, do they have a blog? Maybe they offer special promotions such as product discounts or shipping incentives. How do they display their products? Is their site easy to navigate and have a good overall feel?
There can be lots of great takeaways from doing this.
So even if your competitors are selling more than you are, you still have the power to turn that around by doing your homework. After all, competitive analyses are just as important for a small business as they are for big businesses.
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