There’s fierce competition everywhere, especially in the e-commerce industry. Every e-commerce business has a unique value proposition that comes out from meticulously analyzing market gaps and caters to every need of the customer. In today’s bustling scenario, it’s important that you stand out from the crowd. But how can you achieve this edge? You need to keep an eye out on your competitors. Monitor and analyze their moves which could give you valuable insights that you might be missing out on and also helps you identify any gaps in the market with essential e-commerce marketing tools.
Here’s compelling reasons why keeping tabs on your competitors is important:
- Analyzing Market Gaps: There’s always new needs rising in your market. But by knowing what your competitor offers, and what they don’t, you can find a gap in your market and fill it with your own products and services.
- Improving Marketing Strategies: Marketing can be one of the most expensive parts of your business. Analyzing your competitor’s marketing methods and learning from their success and failure can be a huge cost saver for you. You can fine-tune your own marketing strategies for maximum impact.
- Enhancing Product Offerings: Tracking your competitor’s product offering and new product launches could inspire you to create new products and offerings with unique propositions which could be comparatively better than your competitor’s.
- Keeping Pricing in Check: To stay competitive in the market, you need to offer unique, high quality products with amazing pre-purchase and post-purchase experiences. But never forget the important factor which plays a key role in the buying decision – price. Match prices with your competitors during the holiday season and drive sales.
- Customer Retention: Keeping tabs on all the retention strategies of your customer users, you can outbid them on the bottom-of-the-funnel marketing too. Remember that retaining customers would always cost less than acquiring new customers.
Essential free e-commerce marketing tools to outshine your competitors
1. Milled.com
Every brand does email marketing. Email marketing is often done to let customers know about the new product launches, offers and on-going promotions, abandoned cart emails, back to stock emails and so on. This channel remains as a constant form of communication between the customer and the brand. By analyzing the emails being sent to the customers, brands can keep tabs on promotional tactics, market trends and customer engagement. But this often is concealed between a customer and the brand.
Introducing Milled.com, a game-changing free e-commerce marketing tool that acts as a comprehensive newsletter search engine.
Features:
- Unprecedented insights on your competitors email marketing campaigns
- Access to landing pages
- Frequency of emails being sent
- Visual representation of the newsletter
On exposure to the competitor’s newsletter, brands can gain access to various information like the layout being used, educational content that is reaching the customers and the unique benefits of the brand being highlighted. . Armed with these powerful insights, e-commerce brands can craft compelling and innovative email campaigns that resonate with their audience, drive engagement, and ultimately lead to increased customer loyalty and conversions.
Here’s a tutorial of how you can use this powerful tool.
2. Meta Ads Library
E-commerce brands often face the challenge of investing in advertising campaigns without certainty of their success. The cost of running ads can quickly escalate, and without knowing which strategies will yield results, it becomes a daunting task to optimize the budget effectively.
Enter Meta Ads Library, a game-changing free ecommerce marketing tool that takes the uncertainty out of the equation.
Features:
- Access to creatives
- Access to landing pages
- Data on how long the ad’s been running
- Insight on captions being used
- Insights to CTA
- Information on the types of meta platforms the brand uses
By leveraging this powerful meta ad library, e-commerce brands can make informed decisions, refine their advertising tactics, and allocate their budget to the most promising campaigns. Eliminate the guesswork, harness the potential of data-driven competitor analysis, and discover the winning formula to stand out in the competitive advertising landscape with Meta Ads Library.
Here’s a tutorial on how to use this free e-commerce marketing tool.
3. Visual Ping
Monitoring competitors’ websites allows brands to identify potential opportunities, track pricing adjustments, and even discover new product launches in real-time.
Visual Ping, a powerful free e-commerce marketing tool, empowers e-commerce brands to achieve precisely that.
Features:
- Real-time Change detection and monitoring
- Alert sent to email if change is detected
- Track changes at scale
By leveraging Visual Ping, e-commerce brands can gain a strategic advantage, swiftly adapt to market changes, and make data-driven decisions to outperform competitors.This remains as an indispensable tool for this internet era.
Here’s a video tutorial on how to use this tool.
4. Google Ads Transparency centre
Google Ads play a pivotal role in the success of e-commerce brands by placing their businesses in front of potential customers actively searching for products or services they offer. With Google Ads, brands can drive targeted sales, leads, and site traffic, making it a powerful tool for gaining visibility and boosting conversions. However, to truly stand out and excel in the competitive digital landscape, keeping a vigilant eye on competitors’ Google Ads campaigns is crucial.
Enter the Google Ads Transparency Centre, a free e-commerce marketing tool that empowers brands to achieve this competitive advantage.
Features:
- Comprehensive view of google ads
- Insights on keywords used
- Access to creatives, placement and price points
- Access to landing pages
Leveraging the Google Ads Transparency Centre, e-commerce brands can maximize their advertising ROI, drive targeted sales, leads, and site traffic. This powerful tool acts as a beacon of knowledge, guiding businesses to stay ahead in the dynamic digital landscape and reach potential customers who are actively searching for products or services they offer on Google.
Here’s a video tutorial on how to use this tool.
5. Similar Web
Understanding where competitors generate their website traffic provides valuable insights into their marketing strategies, audience engagement, and potential untapped opportunities.
Enter SimilarWeb, a powerful free e-commerce marketing tool that revolutionizes competitor analysis. This traffic analysis site empowers e-commerce brands to achieve just that.
Features:
- Information on top marketing channels
- Insights on display ad traffic, referral traffic
- Comparison with competitors
With SimilarWeb, e-commerce brands can stay informed, refine their SEO and marketing strategies, and capitalize on competitor insights to drive targeted traffic to their websites. By unlocking the secrets behind successful traffic sources, brands can elevate their digital presence and make informed decisions to outshine competitors in the competitive online marketplace
Here’s a tutorial on how to use this tool.
Bottom Line
In the ever-evolving world of e-commerce, embracing these free tools allows brands to remain agile, adaptive, and always one step ahead of the competition. With the right tools and the right mindset, e-commerce brands can pave their path to greatness, cement their position in the market, and emerge as trailblazers in their industry. The journey to outshine competitors starts today, and these free tools are the guiding light to unlock unparalleled success. So, harness the power of data-driven competitor analysis and embark on an exciting journey of e-commerce excellence!
Want to catch up on more such hacks, follow us on our social media channels to grab them fresh!
