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Checking out the competition

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When positioning a brand, you’re doing so relative to competitors — anyone and anything that draws attention and money from your brand. Competitors can be direct or indirect:

 A direct competitor offers pretty much the same thing you do.

 An indirect competitor presents alternatives to what you offer.

For an airline, another airline is a direct competitor, whereas high-speed rail would be an indirect competitor — one that offers an alternative to flying.

When you’re creating a brand, you need to know what you’re up against, so check out the competition. Here are a few ways to identify your competitors and find out how they’re positioning their brands:

 Search the web for what your brand offers to find brands that offer the same thing or something similar.

 After finding potential competitors via a web search, explore their websites to see how they’re positioning themselves. Check out their mission and value statements, their visuals, their blog posts, and any testimonials they’ve posted.

 Use Similarweb (https://www.similarweb.com) to identify sites similar to those of brands you’ve already identified as competitors (or sites that are similar to your own). Similarweb provides analytics for popular websites; if you’re researching smaller brands, you may find little to no info about them there.

 Check out your competitors’ social media profiles, posts, and comments from their followers or fans.

 Shop in your competitors’ stores; buy and use their products and services. Experiencing your competitors as a customer can provide fresh insight into what they do better than you, and vice versa.

Launching & Building a Brand For Dummies

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