out by using the Market

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Step 4. Get a complete view of the competitive landscape in a new market
In addition to spending time researching individual competitors, it's good to have a deep understanding of the entire market to properly identify your opportunities.

Research activity in your target country by taking a look at the SEMrush Growth Quadrant in the Market Explorer tool . Let’s continue with the example of Square’s competitive landscape in Japan.

You can see that Square is a niche player in that country, and there are several regional competitors as well. Among these, you will see a local accounting software company called “freee” positioned as a Leader.

Researching squareup.com's competitive landscape in the Growth Quadrant

At this point, you might be wondering what freee is doing better than 1000 mobile database everyone else in the market. You can find Explorer tool to analyze traffic generation and social media distribution strategies compared to the average.

You also need to pay attention to the Game Changers. The companies in the top left corner may not have a huge amount of traffic (or traffic volume) right now, but you can see that their traffic growth is higher than Square’s.

Some of them may have received recent funding, and they might be planning continued expansion. You need to take note of these companies and their market potential to identify your opportunities.


Step 5. Estimate the size of your potential market and competition
Your main goal is to enter a market that has the most feasible opportunities for your business , so it is necessary to know how to evaluate market size.

If you enter a competitor's website into Google Market Finder , you'll see information about regional searches and it will automatically suggest categories associated with the URL. For squareup.com, the suggestion "eCommerce" appears, as well as a few others.