How to Find Your Competitors: Top 8 Tips

How to find your competitors, especially when you’re about to expand your Amazon business to a new marketplace? Every seller knows how crucial competitive analysis to the success of your expanding business; understanding how local competitors perform, market their products and services, and nurture their target audience will help refine your business strategy.

Spy on your competitors to help you understand the landscape of each country you plan to penetrate, see what they’re doing wrong and what they’re doing right, and refine your approach to do it better.

That said, lots of Amazon sellers are daunted by this step in global expansion. Finding direct and indirect competitors in new marketplaces can be tricky, especially when you don’t speak the language.

Here’s a list of 8 things you can do to discover your online competitors. Follow the steps here to find your top competitors even before you think about expanding to a new market, so you can gauge if you have the bandwidth and resources to localize your product or marketing strategies to compete.

(1) How to Find Your Competitors with the Amazon Search Function

A product or service that works in Amazon USA may not work in Amazon France, Japan, or the UAE. Finding competitors online using Amazon is surprisingly easy. “You find your competitors by searching your product, and seeing what’s being sold on Amazon,” Jana shares. “Compare the products you’re selling to products others are selling. Make sure they’re the same fabrics, color, and so on.”

In short, until you’re checking for market demand. This is a crucial part of localization; some cultures are sensitive to things like color and fabric, so don’t go in with guns blazing, insisting on a black wool sweater, when your Japanese customers often associate the color black with misfortune or mourning.

If you know your competitors are releasing red or yellow wool sweaters instead, then that’s a big clue to help you refine your approach.

(2) How to Find Your Competitors with External Tools

When it comes to conducting comprehensive competitor research, there are several third-party tools that can significantly streamline the process and provide invaluable insights. These tools offer features that allow Amazon sellers to delve deep into their niche, identify competitors, analyze market trends, and refine their strategies for global expansion.

Here are some tools that’ll help you find your competitors in any marketplace, especially the ones competing for the same keywords:

Jungle Scout is renowned for its product research capabilities, enabling sellers to identify profitable niches, track competitors’ sales performance, and discover trending products. Its intuitive interface and robust analytics empower sellers to make data-driven decisions with ease.

SEMrush is another powerhouse tool that goes beyond Amazon to provide comprehensive competitor analysis across various online platforms. With SEMrush, sellers can uncover valuable insights into competitors’ keywords, advertising strategies, and organic search performance, empowering them to stay ahead in the global marketplace.

Helium 10 offers a suite of tools designed to optimize every aspect of selling on Amazon. From product research and listing optimization to keyword tracking and profitability analysis, Helium 10 equips sellers with the tools they need to succeed in a competitive landscape. The Helium 10 Chrome extension is particularly handy for identifying Best Seller Rank (BSR) directly on the search page for each marketplace, providing instant visibility into product performance.

(3) How to Find Your Competitors with Amazon Customer Reviews

Did you know that customer reviews are a great way to understand competitors in your industry? These reviews offer candid feedback from customers, showcasing what your target audience likes or dislikes about products similar to yours. Delve into customer reviews to understand your competitors’ strengths and weaknesses, identify areas for improvement, and refine your own product offerings and market strategies accordingly. It’s a great way to find gaps in the performance of your main competitors, and find ways to do better, yourself.

Here are some tips for leveraging customer reviews to identify key competitors:

1. Look for Patterns: Pay close attention to recurring themes or common complaints mentioned in customer reviews of competing products. Identifying patterns can help you pinpoint areas where competitors may be falling short or where there’s an opportunity to differentiate your own offerings. Is the fabric uncomfortable? Does the sizing run too small or too large?
2. Assess Product Performance: Analyze customer feedback related to product performance, quality, and functionality. Are there specific features or aspects of competitors’ products that consistently receive praise or criticism? Understanding how competing products measure up in the eyes of consumers can inform your own product development and positioning strategies.
3. Evaluate Customer Experience: Consider the overall customer experience as reflected in reviews, including factors such as shipping speed, packaging quality, and customer service. Brands that consistently deliver exceptional experiences may have a competitive advantage, while those with numerous negative reviews for customer service issues or shipping delays could present opportunities for differentiation. That’ll be a big clue for you when expanding your business globally. Should you focus more budget on logistics? Get your chatbots translated? You get the gist.
4. Identify Market Gaps: Take note of any gaps or unmet needs mentioned in customer reviews that competitors may not be addressing. These gaps represent potential opportunities to carve out a niche for your own products or to develop unique selling propositions that resonate with customers.
5. Monitor Brand Perception: Pay attention to how competitors’ brands are perceived by customers based on their reviews. Positive sentiment towards a competitor’s brand may indicate strong brand loyalty or effective brand messaging, while negative sentiment could signal areas where you can capitalize on dissatisfaction or brand weaknesses.

Follow these steps to gauge your target audience’s attitudes and feelings towards similar products, and see how you can refine your approach to appeal to their wants and needs more accurately.

(4) How to Find Your Competitors with Sponsored Product Listings

Monitoring sponsored product listings can provide valuable insights into your competitors’ advertising strategies and help you stay ahead in the competitive landscape.

Here’s a guide on how to effectively monitor sponsored product listings and identify competitors who are investing in advertising:

1. Regularly Check Search Results: Make it a habit to regularly search for your target keywords on Amazon and take note of the sponsored product listings that appear at the top of the search results. These sponsored listings often indicate competitors who are actively investing in advertising to promote their products. You could run this same metric on Google ads too, to see who’s dominating the search away from Amazon in every country you plan to sell on.
2. Use Amazon’s Ad Console: Amazon offers an Ad Console where sellers can manage and monitor their advertising campaigns. Utilize this tool to monitor your own sponsored product listings as well as those of your competitors. Keep an eye on which competitors are consistently appearing in sponsored listings for relevant keywords.
3. Track Ad Performance: Monitor the performance of sponsored product listings, including metrics such as click-through rate (CTR), conversion rate, and ad spend. Look for trends and patterns in ad performance to identify competitors who are effectively leveraging advertising to drive sales and increase visibility.
4. Utilize Competitive Intelligence Tools: Consider using a competitor analysis tool like Jungle Scout, Helium 10, or SEMrush to gain deeper insights into competitors’ advertising strategies. These tools can provide data on competitor ad spend, keyword targeting, and ad placements, allowing you to benchmark your own advertising efforts against paid search competitors.
5. Monitor Product Detail Pages: Pay attention to the product detail pages of your competitors, especially those who are consistently appearing in sponsored listings. Look for indicators such as enhanced content, A+ content, or brand stores, which may suggest that a competitor is investing in advertising to drive traffic to their listings.

For what it’s worth, not every seller – especially outside of the USA – boosts their online presence using content marketing and paid advertising. Many sellers stick to a main image, a lifestyle image, and perhaps an A+, then call it a day. Obviously, this presents a big opportunity for you, because you can boost your marketing efforts to improve performance both on- and off-Amazon.

If, however, you do find potential competitors that are pulling out all the stops, from a healthy set of organic keywords to awesome display ads and more, then really dive deep into them. Google and see if they have a website or social media, and see if you can make heads or tails of their digital marketing strategy. Use the aforementioned tools to help you calculate their success. Then improve, accordingly.

(5) How to Find Your Competitors Through Networking

We simply can’t underscore enough how important networking is for Amazon sellers! There are roughly 9.7 million Amazon sellers out there, interspersed in many countries across the globe. It’s not enough to find your competitors online; it will also help you greatly to meet them face to face.

Attending industry events can be a valuable opportunity for conducting competitor research and gaining insights into the competitive landscape. Here’s why:

• Stay Updated on Industry Trends: Industry events often feature keynote speeches, panel discussions, and workshops that provide insights into emerging trends, market developments, and new technologies. By attending these events, you can stay updated on the latest industry trends and understand how your competitors are adapting to changes in the market.
• Network with Industry Experts: Industry events bring together professionals from across the sector, including competitors, suppliers, and thought leaders. Take advantage of networking opportunities to connect with industry experts and gather valuable insights into competitor strategies, product innovations, and market dynamics.
• Attend Competitor Presentations: Many industry events feature presentations or product demonstrations by competitors. Attend these sessions to learn more about your competitors’ offerings, market positioning, and key selling points. Take note of any new product launches, partnerships, or marketing initiatives that may impact your business.
• Participate in Roundtable Discussions: Roundtable discussions and breakout sessions provide a forum for sharing best practices, exchanging ideas, and discussing industry challenges. Engage with fellow attendees to learn from their experiences and gain perspective on competitor strategies and tactics.
• Observe Competitor Booths: Industry events often include exhibition halls where companies showcase their products and services. Take the time to visit competitor booths and observe their marketing materials, product displays, and promotional activities. Pay attention to how competitors are positioning themselves in the market and interacting with potential customers.

In other words, networking events are a great way to meet both competitors and customers alike. Before expanding to a new country, consider attending a networking function that caters to that demographic. For example, Seller Sessions in the UK in May, the AWS Seller Summit in Australia, or the AWS Summit in Singapore. It’s a great way to network with customers and competitors based in the region you’d like to tackle next.

(6) How to Find Your Competitors Through Social Media

External traffic is crucial!

External traffic refers to the visitors you send to your Amazon listing from any source outside of Amazon. This could be customers clicking on your Google ads, links from your blogs, or through social media.

External traffic strategies can amplify visibility for your products, bolster brand recognition, and naturally, drive sales. Establishing dependable external traffic sources also reduces reliance on Amazon, so your eCommerce business becomes more sustainable, and facilitates its own expansion endeavors.

On that note, learn how to find local competitors using social media. It stands to reason that anyone spending time and money on their social media efforts takes their marketing strategy seriously. Social media can be a valuable research tool to knowing who your competitors are, how much engagement they get on each post, and what they’re trying to achieve off-Amazon.

Here’s how to do it:

1. Identify Competitors: Start by listing your main competitors across various social media platforms. These could be brands or businesses offering similar products or services in your industry.
2. Follow Competitors: Follow your competitors’ official social media accounts on platforms such as Facebook, Twitter, Instagram, LinkedIn, TikTok, etc. This allows you to receive updates on their posts, announcements, promotions, and interactions with their audience.
3. Use Social Listening Tools: Utilize social media monitoring tools like Hootsuite, Sprout Social, or Mention to track mentions of your competitors’ brand names, products, or relevant keywords across social media platforms. These tools provide real-time alerts and insights into competitor activities, such as new product launches, marketing campaigns, customer feedback, and more.
4. Analyze Content Strategy: Analyze the type of content your competitors are posting, including the frequency, format (images, videos, text), tone, and engagement levels (likes, comments, shares). Pay attention to the topics they cover, the hashtags they use, and their overall messaging strategies.
5. Evaluate Engagement Metrics: Monitor the engagement metrics of your competitors’ social media posts, such as the number of likes, comments, shares, and follower growth over time. Identify which types of content resonate most with their audience and contribute to higher engagement rates.
6. Track Advertising Campaigns: Keep an eye on your competitors’ paid advertising efforts on social media platforms. Look for sponsored posts, promoted tweets, or Facebook ads they may be running to reach a broader audience. Take note of their targeting criteria, ad creative, and messaging strategies.
7. Monitor Audience Feedback: Pay attention to how your competitors respond to comments, questions, and reviews from their audience. Analyze the sentiment and tone of their interactions to understand how they handle customer inquiries and complaints.
8. Benchmark Performance: Compare your own social media performance metrics (such as follower count, engagement rates, and post reach) against those of your competitors. Identify areas where you excel and areas where you can improve based on competitor benchmarks.
9. Stay Updated: Regularly review and update your competitor monitoring strategy to adapt to changes in the competitive landscape and emerging trends in social media marketing.
10. Take Action: Use the insights gathered from monitoring social media for competitor activity to refine your own social media strategy, improve your content quality, enhance customer engagement, and stay ahead of the competition.

This level of market research can help you identify tactics to gauge if a market is right for you, and if you can improve on what your competitors have already done.

(7) How to Find Your Competitors with International Market Trends

Staying on top of international market trends is another way to identify your competitors. Aside from the tips we’ve already addressed here, here’s how to find direct competitors by staying on top of your game:

1. Monitor Online Marketplaces: Explore online marketplaces such as Amazon, eBay, Alibaba, and local e-commerce platforms to identify competitors selling similar products. Analyze their product listings, customer reviews, and sales performance to assess their competitive position in the market.
2. Use Search Engines: Conduct keyword searches on popular search engines like Google, Bing, and Yahoo to discover competitors operating in your target markets. Look for businesses ranking for relevant keywords related to your industry and analyze their website content, backlink profile, and online presence.
3. Join Online Communities: Join online forums, industry groups, and social media communities related to your niche to interact with competitors and industry experts. Engage in discussions, ask questions, and monitor conversations to learn more about your competitors’ activities and market trends.
4. Sign Up for Industry Newsletters: Subscribe to industry newsletters, blogs, and publications to stay informed about the latest market trends, competitor news, and industry developments. Look for insights, case studies, and competitive analysis reports that can help you identify key competitors and emerging trends.
5. Conduct Mystery Shopping: Act as a customer and interact with your competitors’ sales channels, websites, and customer service channels to assess their customer experience. Take note of their product offerings, pricing policies, and service quality to identify areas where you can differentiate yourself. (Just be careful to stay white hat when you do this!)

Besides, it always helps to stay on top of international market trends. Staying on trend allows you to see where you can pivot, if needed, and improve your performance accordingly.

(8) How to Find Your Competitors with YLT’s AMOR

YLT Translations can help identify which marketplace is most promising for your business with AMOR, or the Amazon Product Opportunity Report. AMOR gives you an idea if a marketplace is ripe for the picking – and knowing who your competitors are is crucial, because your competitors’ performance holds keys to where your product can shine. No competitors means there’s very little demand for your product!

So, here’s how AMOR can help:

• Keyword and Search Volume Analysis: AMOR empowers you to identify the most relevant keywords for your product. By providing insights into search volumes, you can optimize your content and drive organic traffic to your listings. Leave no stone unturned when it comes to maximizing your discoverability.
• Competitive Analysis: Gain a comprehensive overview of your competitors’ performance both in their home markets and your target culture. AMOR compares their success metrics, enabling you to understand their strategies and identify opportunities to outshine them. Stay one step ahead by learning from their strengths and weaknesses.
• Personalized Performance Analysis: AMOR offers an in-depth evaluation of your current performance and future potential in the target market. By leveraging AMOR’s personalized insights, you can fine-tune your strategies and make informed decisions that align with your business goals.
• Customer Feedback Insights: Why rely on guesswork when you can tap into real customer feedback? AMOR analyzes customer sentiments to provide you with invaluable insights into the market. Save time and effort by leveraging this data to understand whether your product aligns with the preferences and demands of your target audience.

Pair AMOR with the other tools we mentioned here, and you’ll get a pretty good idea of who your competitors are, what they’re doing, and what you can do to win against them.

Conclusion: How to Find Competitors Using Thorough Competitor Research

In conclusion, understanding how to find your competitors is a crucial aspect of expanding your Amazon business globally. Thorough competitor research provides valuable insights into market dynamics, customer preferences, and competitor strategies, empowering you to refine your approach and stay ahead in the competitive landscape.

By following the tips outlined in this guide, you can effectively identify your competitors and gain a deeper understanding of their strengths, weaknesses, and market positioning. From leveraging Amazon’s search function and external tools to analyzing customer reviews and monitoring social media activity, each step plays a vital role in informing your global expansion strategy.

Furthermore, tools like Jungle Scout, SEMrush, Helium 10, and YLT Translations’ AMOR offer invaluable resources for conducting comprehensive competitor analysis and making data-driven decisions. Whether you’re assessing market demand, evaluating keyword performance, or analyzing competitor strategies, these tools provide the insights you need to succeed in new marketplaces.

In today’s competitive landscape, knowledge is power. By investing time and effort into thorough competitor research, you can unlock new opportunities for growth, differentiate your brand, and achieve success in global markets. So, arm yourself with the right tools and strategies, and embark on your journey to conquer new territories with confidence.

Don’t forget, effective localization is key to making an impact on international marketplaces. So, don’t forget to contact YLT Translations for your localization and translation needs!