Tired of Making Chump Change Online?
I keep talking about reverse-engineering in this blog. I’m a big fan of reverse-engineering because you don’t have to reinvent the wheel. A lot of your competitors and a lot of the people that started in your niche category have done your homework for you. All you need to do is pay attention to certain factors and certain features so you can gain from their experiences while at the same, avoiding common pitfalls. The key is that you win when you don’t make the same mistakes your competitors make while you’re doing the things that make them successful. So how do you reverse-engineer niche content category leaders.
1. Pay attention to patterns
Once you identified who your niche’s category leaders are, visit their websites, join their mailing lists, buy their products and study how they do things. Look at certain patterns, look at what they send, look at how they send it, when they send, there’s going to be patterns as to how they do business and how they conduct themselves. Take a look at patterns regarding their website design or their email composition. Pay careful attention to this. You will quickly notice that there is a certain pattern and that’s their particular brand but they do things for reason.
Photo source: http://www.flickr.com/photos/cambodia4kidsorg/5701422485/
2. Figure out why they do what they do
Your competition is doing things for a particular reason. Maybe they copied it from somebody but there’s a reason why it looks that way, why it’s being done that way. So this will take a lot of an analytical work, this will take a lot of brainwork, but all that extra legwork is definitely worth it because at the end of the day, you will know exactly why they’re doing things so you can be very conscious about your own actions when you’re doing niche marketing. So this is very important, you have to look at the patterns and you got to figure out why they’re doing things the way they’re doing things.
3. Figure out their results
The Pareto principle applies for businesses as well. 20%of the things that a business does accounts for 80% of that business’ results. So you have to figure out what is that magic 20% that this competitor is doing that accounts for 20% of their results. Your job is to base 100% of your efforts on that 20%.