Seems simple enough how your competitors market their products. Take note of your competition’s content strategy. Learn what technology stack your competitors’ use. Analyze the level of engagement on your competitors’ content. Observe how they promote marketing content. Look at their social media presence, strategies, and go-to platforms. Perform a SWOT Analysis to learn their strengths, weaknesses, opportunities, and threats. To run a complete and effective competitive analysis, use these ten templates, which range in purpose from sales, to marketing, to product strategy. Featured Resource: 10 Competitive Analysis Templates competitive analysis template report Download Now.

Connect how your company’s offering

Determine who your competitors are. First, you’ll need Guatemala Mobile Number List to figure out who you’re really competing with so you can compare the data accurately. What works in a business similar to yours may not work for your brand. So how can you do this? Divide your “competitors” into two categories: direct and indirect. Direct competitors are businesses that offer a product or service that could pass as a similar substitute for yours, and that operate in your same geographic area. On the flip side, an indirect competitor provides products that are not the same but could satisfy the same customer need or solve the same problem.

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Explain your company’s product or service offering

It seems simple enough on paper, but these two Buy Email List terms are often misused. When comparing your brand, you should only focus on your direct competitors. This is something many brands get wrong. Let’s use an example: Stitch Fix and Fabletics are both subscription-based services that sell clothes on a monthly basis and serve a similar target audience. But as we look deeper, we can see that the actual product (clothes in this case) are not the same; one brand focuses on stylish everyday outfits while the other is workout-centric attire only.