Competitive Analysis Example

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By looking at competitor strengths and weaknesses, you will identify opportunities for your own business.

I personally love analyzing competitor strengths. It’s easy to become short-sighted when looking internally only at your website, marketing, and business. Analyzing competitors will open your eyes to what the market is up to, what looks good, functions well, and would benefit your business.

Competitor weaknesses are of equal importance, particularly if the competitor is quite aspirational in that you’d love to get to where they are. Analyze areas in which they fall short and devise a plan to avoid making the same mistakes.

Pro tip: Look at company and product reviews to find the weaknesses that most bother your audiences. Commonalities can be used in marketing messaging to persuade people to try you instead, or you can go into product development knowing exactly what problem to solve.

2. Identify opportunities.
Conducting a competitor analysis can be hugely beneficial for brands. It can be an affordable way to identify many opportunities to improve your business.

As an example of opportunities you might find, you can build a morocco whatsapp number database picture of messaging that works by analyzing what your competitors say about their products or USPs. This information might inspire your marketing.

Rachel Andrea Go is a marketing director who uses competitor analysis to learn what messages resonate with her audiences. She recommends, “Instead of saying, ‘Best project management software,’ one of your competitors might say, ‘Get time back by letting our software manage your projects.’

“By framing their software as ‘time-saving,’ your competition positions their software not only as a solution for project managers but also as a way to save time.

“Look at the language they employ on their websites, landing pages, and social media posts to communicate their USPs and pay attention to how their followers react.”