Continually Analyse Your Competitors' Methods
It’s likely that there are similar membership businesses to yours. It’s worth viewing the ideas of competitors as valuable information. Consider learning from what they are doing.
Determine the products or services that your competitors offer and what target market they primarily cater to. From this, you can find your membership business’s position in the market. Most membership businesses publish content or have some sort of social media presence. Analyse their posts, campaigns, engagement metrics and followings, for successful tactics. Overall, conducting competitor research is only worthwhile when it’s done on a regular basis. This enables you to witness how similar businesses are adapting and changing over time.
For a comprehensive competitor analysis, the SWOT framework has proven effective for many. There are plenty of SWOT analysis templates which account for time periods, online!
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