Industry Research: Competitor Analysis Methods in B2B Foreign Trade Market Survey

Industry Research: Competitor Analysis Methods in the Foreign Trade B2B Market

Hey, newbies in the foreign trade world! Competitor analysis is super crucial for you. In fact, 70% of successful orders come from accurate competitor analysis. But many newbies have a common mistake: they only focus on price competition and ignore the overall analysis.

Collecting Basic Information of Competitors

There are several channels to collect basic information. On B2B platforms like Alibaba.com and Global Sources, you can analyze the product pages. Check the company's official website, especially the "About Us" section and news updates. Also, monitor their social media accounts on LinkedIn and Instagram.

Here are some useful free tools:

• SimilarWeb - For website traffic analysis
• Hunter.io - To get the email addresses of procurement managers
• Google Alerts - For setting up daily monitoring
• AB客 - Helps with customs data analysis
• Google Trends - For keyword analysis
• National Intellectual Property Administration - To check patent technologies
• LinkedIn - For social media monitoring
• Instagram - For social media monitoring
• Alibaba International Station - A major B2B platform
• Global Sources - Another important B2B platform

Here's a practical step: Create a competitor profile template that includes the company name, establishment time, product lines, etc.

In - depth Analysis of Core Dimensions

For product competitiveness analysis, you can create a function comparison table. And you can search for patent technologies on the National Intellectual Property Administration's official website.

When it comes to the price system, learn to identify tiered pricing strategies and analyze hidden costs like installation fees and taxes. For channel layout research, calculate the proportion of online and offline channels and track their participation in key exhibitions.

To build a customer profile, use AB客 customs data to infer the types of purchasers and analyze the characteristics of social media fans.

Dynamic Competitive Intelligence Monitoring

Set up a daily monitoring mechanism. Use Google Alerts and regularly browse industry forums like the foreign trade circle. During big promotions like Black Friday and the Christmas season, compare their promotional strategies and keep a record using a template. Also, track their technology iterations by counting the frequency of new product releases and summarizing the rules of product line upgrades.

Formulating Differentiated Competitive Strategies

Apply the SWOT analysis model. Identify your advantages (such as cost control), disadvantages (such as brand awareness), opportunities (such as emerging markets), and threats (such as policy changes). Use Google Trends to find niche markets. For example, a newbie broke through in the pet smart products niche market.

Output Template of the Analysis Report

The analysis report should include a basic information table, a product comparison matrix , and a list of competitive strategy suggestions.

Risk Warning: When collecting data, especially customs data, make sure to comply with relevant regulations. Misusing customs data may lead to legal issues.

Now that you've learned these competitor analysis methods, are you ready to take your foreign trade business to the next level? Click the link below to start your journey and gain a competitive edge in the B2B market!