Why Market Research Transformed My Business
Julian Chambliss a édité cette page il y a 3 semaines

I use a basic tracker to monitor our rivals' rates modifications every week. This has helped us to:

  • Identify cyclical promotion cycles
  • Notice special offer tactics
  • Grasp their pricing psychology

Through comprehensive research for a shopping business, we identified that emails sent between 8-11 PM dramatically exceeded those sent during traditional working periods, generating substantially better visibility.

Last week, a eatery manager in Riyadh complained that his establishment wasn't visible in Google listings despite being well-reviewed by customers. This is a frequent issue I observe with local businesses across the Kingdom.

Six months into our launch, our revenue were disappointing. It wasn't until I happened to a comprehensive analysis about our niche that I discovered how oblivious I'd been to the market realities around us.

Last year, my small business was struggling to find new customers. Our digital storefront was practically invisible in Google search results. That's when I decided to invest in professional website ranking help.

Last year, I witnessed as three competitors invested heavily into expanding their operations on a certain social media platform. Their attempts were unsuccessful as the medium appeared to be a poor fit for our sector.

Recently, a business owner complained that his platform strategy was costing thousands of riyals with disappointing return. After examining his strategy, I identified multiple fundamental problems that are surprisingly common among Saudi businesses.

I now employ several applications that have substantially improved our competitor analysis:

  • Search Competitive Landscape Analysis platforms to monitor other companies' keyword performance
  • Social listening software to track rivals' online presence
  • Website analysis solutions to monitor modifications to their websites
  • Newsletter subscription to get their marketing specialists in Riyadh communications

Begin by listing ALL your rivals – not just the well-known ones. In our investigation, we found that our largest rival wasn't the famous brand we were watching, but a new business with an unique strategy.

When I launched my e-commerce business three years ago, I was certain that our special products would stand out naturally. I overlooked competitor analysis as superfluous – a decision that practically destroyed my entire business.

I recommend categorizing competitors as:

  • Primary competitors (offering nearly identical products/services)
  • Secondary competitors (with limited overlap)
  • Potential threats (new businesses with game-changing potential)

I dedicate at least 120 minutes each regularly analyzing our competitors':

  • Digital organization and navigation
  • Content strategy and posting schedule
  • Social media activity
  • Client testimonials and ratings
  • Keyword strategy and rankings