FEWCLE.com - Competitive research
Fewcle is a service of FIRST IN Marketing, serving
small business since 1992.
"Find out exactly how your competitors can HELP your business!"
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"Don't worry about your competitors. Just know how to stay ahead of them!"
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Performing research on competing Ecommerce stores is always going to reveal competitive advantages and disadvantages. You already know that operating an Ecommerce store is a lot more than “Set it and forget it”. Plenty of time is required for advertising, technical considerations, inventory, shipping, and administration. Monitoring all of those doesn’t leave enough time in the day for researching competitors. It’s the competition which could be doing something “wrong” your business would benefit from. They could be doing something which takes customers away from you. Or, they could be doing something that you could do even better!
Whether you feature one product (or service), several, or thousands, your customers are choosing your business ahead of others. Your goal is to keep them happy and keep them coming back. Performing research for Ecommerce businesses is always going to reveal competitive advantages and disadvantages. You can consistently offer the lowest prices, a significant location advantage, delivery, financing, and other specialties, and still miss out on opportunities.
Our findings over the years show that most owners/managers overlook the value of competitive research on all of these important elements. Just because an online store excels at one or two doesn’t mean they hold every possible advantage for a potential new customer. Having the lowest prices doesn’t always help if a competitor offers a wider selection. Factors such as shipping costs and time, ease of returns (if appropriate), and response time also weigh heavily on future decisions.
It is also easy to think that because an online store has one significant advantage over its competition it can stop there. There are nine other categories to consider. Researching a variety of competitors will likely recover a variety of advantages and disadvantages to conquer.
As a business owner or manager, if you had the time to thoroughly research each main competitor on all ten categories, you wouldn’t have time to operate a successful business. Our team does it for you, in a Fewcle. You can also schedule and join in live to see what we come up with!
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