Researching the competition.
As it turns out there is as of writing this only one other web site that offers the same stumbleon link exchange tool and all though it would seem to present more features than ours both systems have their merits which should allow both to prosper. We were lucky and had we researched we may have gone ahead and made the tool anyway. None the less it was a useful reminder that no matter how good your idea, web site or service is you have to research it probably before deciding to build it.
Types of ideas
Different types of ideas come about from different situations in the stumbleon example we felt as though there was a niche shaped void to be filled and it could be done quite easily, with allcreatives.net we felt as though we wanted to share our insights regardless of existing webmaster sites. Other ideas are born from people not finding what they are looking for and in turn building it themselves. Each situation requires different research but many basic principles stay the same.
Searching for future competitors
This is the first step. Can you find what you want you are planning to offer ? try google, directories and any other information source that has the potential to give you a url to any competition you may have. Don’t forget however that the web is bigger than google (only just!) and try social bookmarking and link sites like digg, reddit and the link. If you are contemplating building something that you can’t find then ask colleagues and friends if they have come across the service or web site you are looking for.
Sizing up the competition
At this point you may have found anywhere between none and one hundred potential competitors. The chances are that there will be a t least one service or web site offering what you want to. If there are hundreds of great web sites that offer the same content or service that you are planning then it may just be a case of giving up and waiting for the next idea, you have to think about whether you time you invest in getting ahead of those web sites is anywhere near the reward you are wanting. Alternatively you can take a saturated service and put a new twist on it again this all depends on the time invested vs the reward gained and is explored further below.
If there are only a few web sites that you can found or have been told about that offer the content or service you are planning then you could be finding yourself a nice niche. Something to consider here is how reputable the web site(s)or service(s) you are attempting to take on are. If they have the market share already then any attempt may be futile again this is all dependant on how much time you are willing to invest which is explained in the next paragraph.
Finding a hook
So you have established competition and have decided to go ahead and build your idea aferall. You have already decided that the time invested will be well worth the reward. If you have found that there isn’t a great amount of competition then you may not need to compete against the sites and services that already exist infact what you see as competition may compliment your web site or service and users will be happy to use both web sites and services as long as they stay relevant.
If you are going head to head with another service or web site and want to take their users then you will need to find a hook. Something that will better your competition and will make the difference when somebody decides who they are going to use. This is where you will need to spend a alot of time using your competitor’s web site or services and really get to know what they are missing. Do everything they are doing but build on it, give their users what they don’t get from your competitors and they will use your service.
“A midget standing on the shoulder of a giant can see much further than the giant”.
What next ?
Get on and build your service or web site and promote it as best you can. If your features live up to the competition and you manage to offer more then the users will come without doubt. Very few services or web sites have a rock solid brand loyalty and people will usually use the service or web site that makes their lives easier or packs a bigger punch (more features).
For more information on promotion see our Promotion articles.