What Is A Competitor Analysis?
Competitor Analysis means very different things in different industries. For a Boxer it means pouring over hours of video tapes of an upcoming fighter, analysing his trainers and understanding his conditioning. In Digital Marketing a Competitor Analysis is an extremely multifaceted undertaking, looking not only at a competitor’s website, but their presence everywhere on the web, the actions they are undertaking and the techniques they use.
A proper analysis should be a thick and comprehensive document; for the purposes of this blog I am going to outline the key areas you should expect to be covered and why they are important for understanding your competition. The surface level analysis can often be done on your own, however deeper analysis requires tools and expertise that many people simply do not have as they don’t need them in the day-to-day running of their business, this is where a professional Competitor Analysis can be extremely useful. Continue reading
Competition is part of our everyday lives. Employment, and sport are competitive and even buying a house has an element of competition. Your business is no different. Whether its products or services, you will be competing with other businesses to win clients. What can you do to get your product or service in front of the right people before your competitors? What do you do better than them? More importantly what is the competition doing to stop those customers finding you?
Digital marketing has changed the way businesses create relationships with their audience. It’s far easier to connect and engage with people which in turn will increase sales and help your business grow.
Another way to help that growth is to conduct a competitor analysis. Understanding how you compare to your competitors will help you gain insights into things you may need to change or improve to help you on your path to success. Learn from your competitors strengths and weaknesses and use the information you find about their marketing strategies and tactics to help guide your own. Continue reading