Instead of looking up competitors one by one, just add a couple of Price Comparison sites to your Favorites list and you can easily compare product pricing from several stores at once. This will save you a lot of time. Do note that some of the information on those sites might be outdated if the product information feed is not updated.
However, it is still a good guide as shoppers would be referring to those sites as well.
Offers And Promotions
This one is easy, just subscribe to newsletters from your competitors. Remember to use an email address from Yahoo! or Gmail and not one from your store’s domain.
You can learn a lot from store newsletters. Apart from what products they have on offer, you can also find out when they start their promotions in relation to festivities and events. Have a close look at their Call To Action (CTA) images and text. Do they make you want to click on them once you have read them?
Once you have taken note on what a good newsletter should contain, you can use your shopping cart software newsletter broadcast feature to send out your own newsletters.
Most shopping cart software now come with auto responders. The tricky thing about auto responder email is getting people to open it once they see it in their in box. The key lies in the subject matter. Much has been written about how to write compelling them but there is no surefire way.
Many stores use built-in ecommerce software auto responders to try to recover some of their aborted orders. Well crafted auto responder email can actually help convert up to 30% of aborted orders. If you want to learn how to craft an effective auto responder email for aborted orders, go to competing store and abort an order. You should receive an email within 24 hours.
If you would like to find out what keywords your competitors are targeting, you need to download a plug-in for Firefox called SEO for Firefox. You can then use tools like SEO XRay to scan a competitor’s page and find out which keywords are being targeted.
You can also use the Traffic Value link on your own search result to reveal your most popular keywords and your closest competitors. You can do the same by clicking the Traffic Value link on your competitor’s search result to get the same kind of information.
You do not have to target the same keywords as your competitors. It may prove to be more effective if you target keywords which your competitors are not ranking highly for.