5 Minute Marketing Tips #2 – Researching Competitor’s Offers

Hello, everybody, I’m excited to be doing Five Minute Marketing Tips. This is our second video. Today we’re going to talk about how to research an offer. And I asked for a volunteer and I got one. Alexandra Masson. She sells… Here’s her page. I’ll try to put a link to her in the comments in the video. This is her product lines. She’s a designer. She’s designed all these things that have these crazy designs on it. It’s pretty cool stuff.

But Alexandra’s having a tough time making sales. And there are some different reasons why that is. But I think that one of the big reasons is the way that she’s presenting her products and the offer that she’s making. So we’re going to go through, and we’re going to just take you through and show you how to research and how to find out how you can improve your offer, how to do competitor research.

And so, the first place you’re going to be surprised, to do this kind of research is on Groupon. So, what you want to do is, you want to make yourself an Excel sheet when you’re doing this research. Maybe put the website and maybe put the offer. And you want to go through and you want to come up and have several different offers. So you can see that we’re getting… These are cheap Capri pants. They’re not designed like hers, really.

But the first thing that jumps out at me is that every single sale, it’s got discounted, right? We don’t have a discount here. You know, even if that’s the real price, we’re not showing it as discounted. Probably Alexandra would like to charge more for this, but what if it’s a hundred dollars, discounted at 70. There’s no discount. So that doesn’t compel people to take action. And then the other thing is, we see different kinds of offers being made. A three pack. What if you offered a three pack. That would be interesting.

And so, Groupon’s a great place to go. And you can find anything on Groupon. You can find roofing. Let’s see what they have to roofing in the United States. Oh, look at that. Rain on me. Roofing inspection 75. Okay. So you got some cool stuff that you can find on Groupon. You’d be surprised.

The second place is going to be Google. So we can just Google it. So, yoga capri pants is what we’re researching. And we’re going to find them. You can click on this stuff that’s kind of mean because they can pay for it, but we’re going to click on this. Again, we’re going to be nice, not make them pay for the click. But we get this one. So, now check this out. And we’ve just reinforced what we had earlier. Everything is discounted. Wow. So, Alexandra, you definitely got to add in some discount, there, of some kind. And we can… You can, a lot of times, even just in this… Check this out. Free shipping on $75 plus. Okay. So, there’s… We can just go here and just read these tags, sometimes, and find offers.

All right. That’s easy. We found a lot of stuff for that. I want to introduce you to this site. So, I plugged in yogaoutlet.com at similarweb.com. You can get free stuff. And what we can actually do is, go in and find all other sites that are just like it, and go in and click on them, and look at their offers.

Finally, really important. Let’s go back to yogaoutlet.com. We’ll get their Facebook stuff. And if you didn’t know this, you can research your competitors’ Facebook ads, because Facebook requires them to be shown and it’s called page transparency. And we come in here, see all… We go down here. We go to their ad library. And we’re going to go in and look through their ads. Joggers. And remember, we’re looking for offers. Free shipping and handling again.

All right. So what I could do is go into similar webs and go in here and click on all of these stores. And I go through each of their pages, look at every sort of offer they make. Go into their Facebook library and I’ll make a comprehensive spreadsheet of things that I can offer on my page or for my business.

All right. And so, these are some basic tips for you as you’re researching or trying to improve your offer. It really… All these tips they’ll work for almost anybody.

We’re approaching our five minutes. So, we’ve got to cut you off. This is Jared with Hivelead. Like and subscribe to my page, and you can also catch us at hivelead-marketing.com.

Thank you.