How to Keep Track of New Competitors Entering Your Market

5 min read

Table of Contents

Introduction
Why Monitoring New Competitors Matters
Key Tools and Techniques to Track Mobile App Competitors
Building a Competitor Tracking System
How AppFillip Can Help You Track Competitors
Adapting to Changes and Responding to New Competitors
Conclusion

Introduction #

As the mobile app market continues to grow, staying ahead of your competition is more important than ever. Identifying and monitoring new app competitors and mobile app competitors entering your market can provide you with key insights that help refine your strategies, adjust your offerings, and maintain a competitive edge. This comprehensive guide outlines how to keep track of new competitors entering your market, with a focus on tools and techniques for proactive monitoring and response.

Why Monitoring New Competitors Matters #

Understanding who your competitors are and how they operate is essential for any business. When new app competitors emerge, they may introduce innovative features, pricing models, or marketing strategies that could threaten your market share. By actively tracking these entrants, you can stay informed, make strategic decisions, and adapt to the changing landscape.

Without a solid competitor tracking strategy, you might find yourself blindsided by a competitor’s success or struggle to understand market shifts. With the right tools and practices, you can transform competition into an opportunity.

Key Tools and Techniques to Track Mobile App Competitors #

1. App Store Optimization (ASO) Tools #

One of the most effective ways to monitor mobile app competitors is through App Store Optimization (ASO) tools. ASO tools help you keep track of your competitors’ performance in app stores like Google Play and the Apple App Store. These tools provide information such as:

Keyword rankings
Reviews and ratings
User engagement metrics
App update frequency

Using tools like AppFillip, you can gain insights into your competitors’ ASO strategies, keywords they are ranking for, and their overall performance in search rankings. This helps you understand which features or marketing tactics are driving their success and whether those strategies are worth adopting or countering.

2. Competitive Analysis Platforms #

Platforms like SimilarWeb, Sensor Tower, and App Annie provide competitive intelligence by offering data on your competitors’ traffic sources, user engagement metrics, and financial performance. These platforms also allow you to track:

App downloads and usage
Revenue estimates
User demographics
Market share trends

By regularly checking these platforms, you can identify app competitors that are rapidly gaining market share, which can help you anticipate shifts in consumer behavior and react accordingly.

Social media platforms like Twitter, Facebook, Instagram, and LinkedIn are excellent sources for tracking new mobile app competitors. Many businesses use social media to announce new product launches, promotions, and updates. By setting up social media alerts or using tools like Hootsuite or BuzzSumo, you can track:

Competitors’ social media activity
User feedback and sentiment
New product features or services
Marketing campaigns and content strategies

Social media can often reveal trends and sentiments before they reach the wider market. By staying on top of social media conversations, you can spot new app competitors early and begin to adjust your strategies in anticipation of market shifts.

4. Monitoring App Review Sites #

Another excellent way to track mobile app competitors is by monitoring app review sites. Websites such as Capterra, G2, and TrustPilot feature reviews and ratings from users. These reviews often contain valuable insights into the strengths and weaknesses of your competitors’ apps. By examining these reviews, you can gather information on:

Key features users love or dislike
Pain points your competitors might be overlooking
Opportunities for improvement in your own app

Monitoring these review sites allows you to stay in tune with users’ changing preferences, which is crucial for understanding why certain app competitors succeed or fail.

5. Keeping an Eye on Industry Trends #

Industry publications, blogs, podcasts, and forums are rich sources of information about emerging mobile app competitors. Platforms like TechCrunch, VentureBeat, and The Verge often cover new entrants in the market, provide insight into funding rounds, and reveal new partnerships. Regularly reviewing these sources ensures that you don’t miss any developments that could impact your competitive landscape.

Industry reports from firms such as Statista and Forrester Research can also provide data on app market trends, projections, and forecasts, helping you to stay ahead of new entrants. You can use these insights to tweak your offerings or pivot to better align with market demand.

Building a Competitor Tracking System #

To stay ahead of your app competitors, it’s essential to establish a formal tracking system. This system should integrate multiple tools and sources of information to provide a comprehensive view of your competitive landscape. Below are the components of an effective competitor tracking system.

A. Define Key Metrics #

First, define which metrics matter most to your business. These could include:

Market Share: How much of the market does your competitor control?
App Downloads: How many users have downloaded their app?
User Engagement: How often do users interact with the app?
Feature Set: What features does the competitor app offer?
Pricing Models: How does their pricing structure compare to yours?

Knowing which metrics to track helps you focus your efforts on gathering meaningful data.

B. Set Up Alerts and Notifications #

Many competitor tracking tools offer alert systems. For instance, setting up alerts on platforms like Google Alerts or Mention will notify you when your competitors release new features, make major updates, or announce new marketing campaigns. This proactive approach ensures that you’re always in the loop.

C. Conduct Regular Reviews #

Tracking your mobile app competitors is not a one-time task. To maintain a competitive advantage, regularly review and analyze the data you’ve collected. Aim to conduct a comprehensive competitor analysis at least once a month, but be sure to make adjustments to your strategy as new information emerges.

How AppFillip Can Help You Track Competitors #

At AppFillip, we understand the importance of tracking app competitors to ensure your app stays relevant and competitive in the marketplace. Our suite of ASO tools, app performance tracking, and competitor analysis features makes it easy for you to monitor your competitors’ movements. Whether you’re tracking keyword rankings, user feedback, or download statistics, AppFillip equips you with the data you need to make informed decisions.

Our tools allow you to:

Track keyword rankings and changes in real time
Monitor competitor app updates and feature launches
Analyze user reviews and ratings across various platforms
Set alerts for new competitors entering the market

By using AppFillip, you can automate competitor tracking and stay a step ahead of new mobile app competitors in your market.

Adapting to Changes and Responding to New Competitors #

Once you’ve identified new app competitors entering your market, it’s essential to quickly assess how they might impact your business. Here are a few strategies to respond to the emergence of new competition:

Innovate Continuously: If a new competitor is offering a feature that you lack, consider adding it to your app to stay competitive.
Improve Customer Service: Ensure that your customer support is responsive and addresses user concerns better than your competitors.
Analyze Pricing Models: If a new competitor offers a more attractive pricing model, you may need to revisit your pricing strategy to stay competitive.
Expand Marketing Efforts: If a competitor’s marketing efforts are gaining traction, it might be time to ramp up your own advertising, SEO, and content marketing efforts.

By quickly analyzing the threat posed by new mobile app competitors and adjusting your strategy accordingly, you can minimize potential risks and position your app for continued growth.

Conclusion #

Tracking new app competitors and mobile app competitors entering your market is essential to maintaining your competitive edge. By utilizing the right tools, setting up a formal tracking system, and staying informed through various channels, you can proactively respond to market changes and ensure your app remains relevant. With AppFillip on your side, competitor monitoring becomes more efficient, empowering you to make data-driven decisions and stay ahead in the highly competitive mobile app landscape.