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Easily monitor your competitors to get ahead
In the world of business, it is important to understand your market and to be aware of what your competitors are up too. There can only be so many potential clients in a given area, so it is important to make sure that you shine above the rest in your field. Keeping an eye on what other similar businesses are doing is critical for how you plan your strategy going forward. With the help of Byron, we can keep an eye on your competitors and report back to you on their activity and what they are doing. This will allow you to focus on building your business without having to spend the time doing market research for yourself. In order to get you set up with one of our assistants to perform this research, you will need to prepare a few things in order to get started. We will be outlining what you will need to do before sending off your request.
Building A Competitor List
In order to get started, you will need to compile a small list of businesses that are similar to your own so that your assistant has an idea on who they will need to look into. This list does not have to be comprehensive, but including 2 or 3 examples of other businesses in your market will give your assistant an idea on who to look into and where else to look in order to identify other competitors.
Including a short summary of what your own business does will also be helpful so that your assistant is aware of exactly what you do as a company. In order to understand what a competitor is doing different, they will need to understand what you do after all; so make sure that you accurately describe your own business in order to guarantee the best results going forward.
Once you prepare a few examples of competing businesses, you will want to put together your instructions on how you want your assistant to go about performing research on them. It could be as simple as checking their website and seeing if they have a new product launch, or going into more detail on how exactly the provide their product to their customers. There is a wide variety of different ways to go about gathering this information, and for every business and market there will be different interests in what types of information you want gathered; so make sure that you specify exactly what you want to know and how you would like your assistant to go about getting that information. Be as precise and clear in your instructions as possible to avoid any misunderstandings or questions on why you want them to complete this task or how they should go about doing so.
When your assistant is monitoring competitors, it is important for them to be aware of what they should be keeping an eye out for when comparing them to your own business. Creating a short list or description of how your business markets themselves to your customers is a valuable piece of information to include in your request so that when your assistant is looking into other similar business, they can identify more easily the differences. If you are generally aware of what your competitors do differently and want to gain more information on that specifically, make sure that you include this so that your assistant can more easily look into this.
When keeping an eye on competing businesses for an extended period of time, it is important to keep an eye on any new updates that are happening with them. For long term requests, your assistant can routinely check up on your competing businesses and alert you to when they make any new announcements or change up how they are marketing themselves. It is important to know as soon as possible when any changes are made that could potentially impact your numbers. When making your request, make sure that you include a schedule for them to follow on when to check back into competitors and how you would like any new information to be delivered back to you.
For organizational purposes, you can have your assistant compile routine reports on what they gather during these monitoring sessions. You can create a template for them to follow on what type of information to document or you can simply let them know what specifics you want to be updated about and in what format you would like this information presented back to you, such as in the form of a word document or spreadsheet.
Getting Started With Byron
Staying informed about what your competitors are doing is a crucial task that any business must do in order to maintain an effective strategy going forward. Having as much information as possible on the activities of other businesses competing in the same market is necessary in order to make the appropriate decisions on what areas you should focus on the most. With the help of Byron, we can keep track of this information and present it back to you you may need the most. This allows you to focus on the aspects of your business that need your attention the most, without having to dedicate your precious time towards a time sinking project such as this. We can accommodate any type of task that you may have in regards to gathering information on your competitors, so do not hesitate to reach out to us about what your specific needs are.
How to get started...
Create a Byron account
Create a long-term placement project
Your dedicated long-term assistant is placed to you in hours