How do you track competitors?
I have found some interesting companies providing similar service that I'm thinking of, but mine is with a small twist.
How do you estimate competitors performance and are you using some services to check how your competition is doing?
Lastly, I know that you should always focus on your own product, but was just wondering about this for some validation.
https://ahrefs.com/
The real question is why do you need to keep up with competitors? Yes, you need it for a pitch deck, but the reality is much different. Just find out what is most important to the segment and provide it. There will always be competitors if a market exists.
For example, Google did not keep up with Yahoo, BaseCamp did not keep up with MS Project, and Facebook did not keep up with MySpace. Each did things their own way.
I'm doing market research for my new product and wanted to know what are the best places to check how other similar businesses are doing, to validate business case. :)
Got it. In that case look at TechCrunch, doing a search for similar terms to see if there are other companies doing something similar and who the leader is.
We couldn't find such a tool for a reasonable price, so we developed https://seodity.com/competitors.
I invite you to use for free :)
https://app.neilpatel.com/en/ubersuggest/keyword_ideas?keyword=garyvee&locId=2840&lang=en
Subscribe to their email list, sign up for their product if it is free or freemium, bookmark their site in Google chrome and visit every once in a while.
I do the same thing not just for competitors but also for companies/products that I admire and want to follow even if they are in a totally difference market.
For my community Makerlog, I just have TweetDeck open with columns for each and every competitor. I listen to every tweet, mention, anything relevant to their brand.
It helps me keep an eye without being obsessive on them (and helps also get customers).