When you’re starting out, knowing how to analyze your main competitor is a really valuable skill. It’s a valuable skill when you’re working with clients too. When you do competitive research for them, you can bring stronger ideas to the table.
I read a post from a writer who was just starting on her Money-Making Website journey. She had identified a niche and her main competitor.
The problem was, she was intimidated.
She used phrases like, “They are the experts,” and “I couldn’t possibly compete with them,” to describe her main competitor. She was defeated before she even started.
Yet, she had some great ideas for her own website.
If you want to be seen as the expert in your niche, don’t be intimidated. Take your competitors on head-first! Beat them at their own game and make yours the website everyone wants to emulate.
An “Impossible” Target
When we started Top Wire Traveller three years ago, I identified our main competitor. I did some competitive research starting with a look at their traffic. I saw they were getting around 130,000 unique site visitors per year, or around 11,000 per month.
“Wow, I’ll take 20 years to get those numbers,” I thought despondently. Eleven thousand site visitors per month seemed an impossible target, just a dream.
Well, guess what? After three years, we’re getting over 5,000 unique site visitors per month. That’s 60,000 per year and growing! We’re nearly halfway there already.
And our main competitor has at least five years’ head start on us. We still have a long way to go, but we’re getting there.
I don’t tell you this to brag. Rather, I want you to see it can be done… you can become a significant player in your niche.
Well, using our main competitor as an example, let’s figure out why their website is so successful. What can we learn from them? Then we’ll look at what they’re not doing well, so we can avoid these pitfalls too.
Then you can use the same approach to do your own competitive research.
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