The goal is to draw conclusions that simplify the decision-making process. It’s the act of examining each company in your market and determining how you stack up in terms of product, marketing, sales, copy, and more. What is a marketing competitive analysis?Ī marketing competitive analysis is the ongoing process of scrutinizing your competitors in relation to your own business. Once we’ve defined competitive analysis, we’ll discuss the basics of evaluating your competitors through the lenses of PPC, SEO, and social media marketing.
This is an introductory guide to conducting competitive analysis across search and social. Failure to engage in what’s known as competitive analysis may result in poor decision-making, missed opportunities for revenue, and reduced market share. And if you want to understand your business-your strengths, your weaknesses, your opportunities for differentiation and growth-you have to pay close attention to your competitors.
If you want to understand a legendary musical act, you have to take a long, hard look at the other artists around them. A simple snapshot of a hypothetical competitive landscape.
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