Project Description
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Learn Which Competitors to Track
There are many benefits to picking competitors to monitor and track through Merchant Centric. Reviewing the benefits will help illustrate which competitors you should pick.
The first and most obvious benefit is to watch the activity of your direct competitors. You can learn what they are doing to gain market share. On the Reviews page you can read your competitors’ reviews and see what their customers are saying.
You can also view how they are marketing themselves online by seeing how well they engage with customers on top social sites.
You can see this information on the Social Score panel of the Competition page.
All this will give you an understanding of your competitors’ strengths and weaknesses so you can make well informed decisions for your own business.
Another key benefit is for marketing ideas. You can gain valuable marketing ideas by seeing what other businesses are doing online… and this is not limited to just businesses that may be direct competitors in your specific category of service or local geography. For instance, you may view another business’ listings and like how they use photos and the way they describe their experience in their business description.
To get started, you should pick at least three nearby businesses that are direct competitors that customers might consider as options when they are considering your business. It’s smart, free and easy to learn from the most successful businesses when you track what they are doing online with Merchant Centric.
One of the many benefits of Merchant Centric is that you can identify businesses that have high Marketing Scores, and track them to reveal what they are doing to become so successful and attract customers.
You can sort by Marketing Score, when you are picking competitors to find the business with the highest scores.
It is important to pick at least one business to track that has a very high Marketing Score, regardless of what category of business, or how close they are located to you… just so you can get marketing ideas.
