48. Do a market research
You cannot expect that your competitors will be stationary. Like you, they will seek ways on how to break the competition. You should not lose edge. You can do this by keeping yourself updated of your competitors' activities. Always do a research and pay close attention to what your competitors are doing.
49. Always check price comparisons
The most common method used by companies to break the competition is to offer a competitive price (lower than other sellers). This is why you need stay updated on the price changes that your competitor makes.
50. Always check the promotional activities of your competitors
like you, your competitors will offer discounts and promos. Stay updated on when your competitors are planning to hold a sale. It is a good idea to hold a sale when your competitors also do. You do not want them to be ahead of your even if it is only for a few days.
51. Always offer something more
After doing a market research and after researching the activities of your competitors, you will need to device a market plan. To stay competitive, you must always offer something more. So if your competitor is offering a 25% discount for example, you can top the competition by offering a 30% discount. If your competitor is offering two freebies, then maybe you should offer three freebies.
52. Improve the variety of your products/services
Customers like to go to shops that offer more than what the others offer. When choosing a mobile phone shop for example, a customer will likely go to the shop that offers four different brands and not to the shop that only offers three different brands. This means that you can break the competition by offering a wider variety of products/services.
53. Always stay updated
Whenever there is something new in the industry that you are in, you should always be among the first to know. This will help you make better sales and market strategies.
54. Bundle your products with no-cost freebies
By including free items into your products, customers will likely buy from you. This is especially true of your competitors are not offering free items. No-cost freebies include electronic eBooks with resale rights.