Do you want to know how your competitors are doing that you haven’t done yet? It’s always helpful to find inspiration for your business by looking into dropshipping stores that sell same product as you. This way you’ll be able to know how to make adjustments in your dropshipping store so you can have an edge over your competitors.
There are many reasons why you should pay more attention to your competitors’ tactics and these include:
Finding new products. Your competitors might be selling dropshipping products that you are not aware yet.
Learning pricing outcomes. Their pricing tactics may give you a challenge or opportunity you should act on.
Evaluating promotions. You would want to know if they are running promotions that might directly affect your business.
Getting new ideas. You might find new ideas to promote your dropshipping business.
Avoiding specific products. By looking at your competitors’ clearance sale items you will know which products you should not sell.
Discovering new keywords. You might get keyword ideas on their websites that you can use for your SEO and ad campaigns.
Researching your competitors’ stores can help you improve your business. Do it for a few minutes once a week but don’t be obsessed with it.
How to find your top competitors?
Not all dropshipping stores are your competitors but only those that sell same product as you. If you are not yet aware of who your competitors are, here is a simple method you can use to find out.
Do a Google Search of Online Stores.
If you are looking for competitors for AliExpress products, just copy the product name and paste it in the Google Search bar then hit enter. Let’s use as an example this baby rattle that doubles as teether from AliExpress.
I copied the product name from AliExpress and pasted it in the search bar. Google yielded results of all online services and stores that carry the product. You can just click on the product page links to explore the websites.
Another way of checking the Google Search result is to view them by Images. This way you can easily see which stores carry the exact product by comparing the product images in AliExpress and Google results. Click on the product image displayed by Google to visit the competitor’s website.
A third option for using Google Search to find online store competitors is to choose the Shopping option. Google will only display results of online stores that sell the specific AliExpress product including Shopify stores.
After you have found dropshipping stores that sell the same product as you, list your observations when you visit their websites. These are questions that you could ask yourself as you perform your competitor research.
How are value propositions highlighted on their websites?
Value propositions are the reasons why consumers buy from them. It can be a special feature of the product or a limited offer for free shipping or free returns.
How obvious is their call to actions?
After reading the value propositions, what should the customer do next? Subscribe to email, order the product, or do anything else? Does the call to action button stand out clearly from the background?
Are your competitors building their email lists?
If they have an opt-in form placed strategically on their pages, these businesses are building their email lists for marketing purposes. Online stores that send out a personalized offer to their subscribers’ inbox perform better than those who don’t.
What are their pricing strategies?
Are their prices lower than yours? If yes, you could either match their prices or offer additional value like free shipping, return options, and so on to get people to buy from you.
What shipping options do they offer?
If they ship faster than you then you’re in trouble. However, if they don’t offer free shipping, this is something you might want to offer in your dropshipping store.
How are your competitors’ product descriptions and product images like?
Are they showing the product in all angles? Do their product descriptions engaging and helpful to customers? Are these optimized for SEO?
How do they promote dropshipping products on social media?
Note your competitors’ activities on social media. Which platforms are they using? What kind of content gets more attention? Do they interact with their audience? How often?
While doing this, put yourself in the shoes of the consumer, not the competitor. This way you’ll be able to imagine how the experience can be in the customer’s point of view. You can create a spreadsheet to note the things that you like and did not like when analyzing the websites of your competitors. When you have these data, you’ll know what strategies to experiment in your dropshipping store and what things to avoid.
Use competitor research as inspiration for building your strategies. They might have advance information that you are not aware yet or they might be doing something wrong that you’d want to avoid in your dropshipping business. Find dropshipping stores that sell same product as you using Google Search. When you have the list, make sure to check their websites once a week so you’ll have an idea on how their stores are performing. Using the gathered information, you can adjust your store, if needed, to make it more competitive.