The Matt Edmundson Way to Spy on Your Business Competition Legally and Without Obsession
We all do it. Research the competition. It’s necessary. Especially in the fast paced, ever-changing world of ecommerce. We need to see what other companies are out there right now, offering the same services as us, occupying areas of the market we want to grow into. Having a clear understanding of what our competitors offer, and the gaps in the market, will help us to offer the best service possible to our customers. Knowing our competition is what will set us apart from our competitors.
But there’s a way to research the competition – legally and without becoming so obsessed with what everyone is doing our own business suffers. Matt Edmundson knows all about this. With over a decade’s experience of running ecommerce businesses, generating over $50m of worldwide sales for over 6m customers, Matt has developed the Mastery 2017 course to share the lessons he has learned through his experiences, and teach businesses how to thrive in the world of ecommerce.
Is competition healthy in business?
Perhaps, the wrong question. Because the simple answer is, like it or not, there is competition in business. And actually, if you’re starting a company where there is no competition, and none on the horizon, chances are you won’t have much of a customer base either. As they say, there is ‘nothing new under the sun’.
So we need to make competition a healthy thing, something that works for us, a positive for our company. Matt Edmundson talks about this as learning to watch what other people do, in order to understand what works for you, so your business can thrive. Some companies make the mistake of holding up a mirror to reflect on their performance. In actual fact, the best way to gauge your success of your company is to analyse it against your competitors, in the context of the wider marketplace.
In his online course, Mastery 2017, Matt will take us through a series of steps to understand how we can channel competition in a healthy way, to get a better overall response for our company in the marketplace, using his specific knowledge of ecommerce.
When we learn to shift our mindset to seeing competition as a healthy tool for growth, we begin to unlock the benefits of healthy competition, that it can:
- Teach us the biggest lessons – when we are equipped with the tools to compare the competition and to put the information we learn into practice
- Keep us on our toes – complacency is one of the biggest killers of ecommerce. We need to constantly improve and respond to the changing needs of our customer base. If we don’t, our competitors will.
- Help us exploit industry trends – learning to evaluate our competitors is one of the best market research tools at our fingertips. When we see what methods our competitors are using to succeed, and indeed where they are failing, we can see what could work for our business.
How can I make competition work for my business?
The key to making competition work for your business is having the tools to learn from your competitors. It’s all too easy to fall into the trap of comparing ourselves with our competitors, becoming obsessed with how they are doing, what they are doing and how it measures up to our performance. This path only leads to playing catch up. How can my business be as good as the competition?
Matt Edmundson, in Mastery 2017, provides the tools to approach competition for success. For example, Matt will lead you through a session on making sure your Home Page is doing all it should for your business to thrive. Matt uses his considerable expertise in designing successful ecommerce sites to show you how you can use a study of competitors sites to glean the gems that will work for your company. Far from copying your competitors, or playing catch-up, Mastery 2017 will guide you through the process of cherry-picking the successes of your competitors, to ensure your own business thrives.
Understanding how to spy on your competition legally, and without obsessing, can help you:
Differentiate what you offer – by understanding what your competitors offer, you can see your unique strengths and how you can stand out in the market place
Prioritise customer needs – learning how to approach competition from the eyes of your customers, you can see their needs that are and aren’t being met by your competitors and how you can improve your service
Become more self-aware – often it’s only when we see how easy or difficult it is to navigate a competitor’s ecommerce site that we realise the flaws in our own.
Spying on the competitors legally without becoming obsessed
In his online course, Matt Edmundson uses his vast experience of the world of ecommerce to teach you how your business can thrive. Understanding your competitors is just one building block in a wider strategy of success. By placing the information we can learn from our competitors in context, we begin to see that it is a part, not the whole. This will stop us from becoming obsessed with what our competitors are doing, instead focusing only on how that knowledge can help improve our business.
Competition is a healthy thing, if we understand how we can use it for good! Competition:
- Can foster innovation – some of the greatest inventions have come from someone seeing the competition and realizing there was a better way to do things
- It can make you work faster and smarter – knowing we are competing with others keeps our energy and focus up
- Puts customers first – healthy competition will make you continually ask that vital question – what does our customer need and how can we be the ones to provide for that?
- Is a way to learn from others’ mistakes – learning to understand your competitors means you don’t have to make the same mistakes they have.
Matt Edmundson has over a decade of learning experiences to draw on and share with you in his online course, Mastery 2017. By learning how to make competition a healthy tool, rather than making negative comparisons, Matt has developed successful ecommerce businesses, such as Jersey Beauty Company, and has generated over $50m of sales for over 6m customers worldwide. Matt wants to share his experience and expertise with you, so you can put the proven tools Matt has learned into practice and see your ecommerce business thrive.
The Mastery 2017 online course has limited places. In order that you get the most out of the course, Matt has requested we limit the course to 50 participants. Be one of them and see your company transformed.
You can sign up here: