Modeling competitors with common sense
All too often we see a lot of ecommerce businesses keeping an eye on their competitors and literally mirroring their every single move from the addition of new widgets to completely changing how their website works simply because the competition are doing it. Now that’s fine if your competitors turn out to be doing the right thing but what if they’re not? The last thing you need is to end up shooting yourself in the foot and implementing wrong solutions that can certainly cost you dearly.
Now instead of simply copying what your competitors are doing, it would be best to look at your closest competitors as a source of inspiration. Take cues from successful businesses in other markets and what they are doing on their ecommerce website. You can then implement them on your own website and track whatever difference it makes. Needless to say if you can associate an increase in sales due to those changes then you can keep it and promptly discard or modify changes that yield the opposite result.
It’s not prudent for ecommerce business to reinvent the wheel and it’s better to see what other people are doing right and implement those things ourselves for our respective businesses. The important thing is that you always track and split-test any additions or changes you make. Take the time to test different elements from at least two of your best competitors and determine which ones actually yield the best results.
Don’t just blindly copy what your competitors are doing no matter how good it looks. Just because something looks good doesn’t mean it works!
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