Business Research : Know Your Business Inside Out
For overall conversion optimization, it is important to conduct business research that primarily deals with what competitors are doing. Business research is basically a competitive analysis that opens your chance to look closely at your market and your competition. It lets you learn what your rivals are doing and how. Accurate, timely information about your business is crucial to making successful business and marketing decisions. By identifying your main competitors in the market and by marking their strengths and weaknesses, you get to create a unique website with distinguished USPs that eventually positively affects your thorough conversion rate.
Key Areas for Business Research
- Target Demographic Analysis
- As per your target demographic, we identify potential turn-offs points of your site, eliminate them and provide a conducive information delivery method.
- Determining Sales Funnels
- In order to ensure customer’s engagement end-to-end, we closely analyze your sales funnels to find out points where customers are losing interest in your products.
- Industry knowledge
- Check if your competitors are providing tips, instructions, or industry resources.
- A comparison drawn between the quality and quantity of the your offered products to that of your competitors.
- Products and Pricing
- Determine the comparison in brands and pricing of the offered products. We also check if they are offering online coupons, discount offers or specials.
- This can be a massive traffic puller. We check if your competitors are offering money back guarantee or product related guarantees.
- Merchant Services
- The ease of ordering online. It includes details regarding shipping process such as speed, rates etc, along with types of payment methods that are available.
- Customer Interactions
- We check for all interactive mediums that your competitors are using. These primarily include forums, e-newsletters and blogs.
- Shop your competition
- Shopping on competitor’s site will give an idea about the ease their customers are getting while they make a purchase from the website. Also, this enables us to get hold of their rate list and their pitch.
Customized Research Deliverables
We ensure quality business research reports that deliver the results exactly as you need them. From a collection of figurative reports to in-depth analysis briefs, we tend to summarize and synthesize research findings to provide you through insight into your competitors’ conversion strategies.
A Peak at Results Driven by Business Research
- Benchmark your site considering your competitors.
- Identify your website’s potential in the market.
- Determine your competitors USPs.
- Identify bottlenecks and improve traffic flow.
- Attract bigger volumes of targeted traffic and deliver positive results.
- And Much more
It always works in your favor to have concrete information about your business in the current market place. Not only it brings better understanding of the business but also empowers you with a leading edge over others. To know more about your competitors with detailed reports on their USPs and efficient conversion strategies, and improve your website conversion optimization, simply contact us.