Ensure your product was the last time you ran a competitive analysis for your brand? And most importantly, do you know how to do one efficiently? marketing conducting a competitive analysis If you’re not sure, or if the last “analysis” you ran was a quick perusal of a competitor’s website and social media presence, you’re likely missing out on important intelligence that could help your brand grow. In this detailed guide, you’ll learn how to conduct a competitive analysis that will give your business a competitive advantage in the market.
How Does Your Business Stack Up?
Download Now: 10 Competitive Analysis Anhui Mobile Number List Templates Free Templates What is a competitive market analysis? A competitive analysis is a strategy that involves researching major competitors to gain insight into their products, sales, and marketing tactics. Implementing stronger business strategies, warding off competitors, and capturing market share are just a few benefits of conducting a competitive market analysis. A competitive analysis can help you learn the ins and outs of how your competition works, and identify potential opportunities where you can out-perform them.
It also enables you to stay atop of industry Buy Email List trends and ensure your product is consistently meeting — and exceeding — industry standards. Let’s dive into a few more benefits of conducting competitive analyses: Helps you identify your product’s unique value proposition and what makes your product different from the competitors’, which can inform future marketing efforts. Enables you to identify what your competitor is doing right. This information is critical for staying relevant and ensuring both your product and your marketing campaigns are outperforming industry standards.