Every business in the world has competition, no matter whether it’s a small or large business. As a business owner, you should know who your competitors are, what they are providing and how different it is from what you’re doing. But, sometimes, just knowing who your competitors are isn’t enough.
There are two groups of competitors; direct and indirect competitors. Direct competitors are those businesses that sell similar products and services to your business. For instance, if you run a bookstore, your direct competitors are other bookstores. Indirect competitors are businesses that don't sell similar products but compete with your business digitally. For example, they may write the same content as you, so both of you are competing for your customer's attention. How Do You Identify Your Direct Competitors?
How Do You Identify Your Indirect Competitors?
To get ahead in business, you need to be better than your competitors. If you need assistance in identifying your competitors, Anchor Digital is here to help. Visit our website to see the services we offer or contact us for more information.
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June 2023
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