After all, how do you do a competition analysis?

Dołączył: 06 Mar 2024 Posty: 1

Now that you know what competition analysis is and the advantages that this strategy brings to companies, the time has come to get your hands dirty and start studying the market in depth.

It is worth mentioning that the data collected has the func Chinese Overseas Asia Number Data tion of providing useful information for the beginning of strategic planning.

This means that, in addition to this data, it is important that the organization knows its audience well and has its own performance metrics.

In this way, the strategies developed using competition analysis become more efficient and capable of, in fact, helping and not hindering. Since they are based on different factors.

Check out the main tips for carrying out an effective competition study below:

Set the goals
Before putting into practice any strategy, whether sales or marketing, it is essential that your business understands what its objectives are .

In this scenario, the goal may seem obvious, understanding your competitors, but you need to have a slightly more refined vision.

This way, your team's efforts are not wasted on not so important aspects and they can dedicate themselves to what really matters.

To do this, it is necessary to establish which are the most important competitive factors that must be analyzed. This element may vary according to the company, segment and needs of the organization.

Therefore, be clear about the main improvement needs of your business before starting to analyze your competitors. This allows for a more accurate view of what should be studied.

List your competitors
With the objectives established, it is time to begin collection and analysis. To do this, identify the main competitors of your business, at this stage follow the following criteria:

Similar products;
Market leaders;
Greater organic traffic ;
Increased paid traffic;
Focus on keywords;
Content production.
The more segmented this list is, the better the information collection. This is because your company can focus on what really matters and leave aside information that is not necessary at the moment.

Additionally, a detailed list helps you find the right analysis criteria and resources to continue your competitor study.

Determine the criteria
After creating a list of competitors and segments, you need to think about what the main data collection and analysis criteria should be.

Wysłany: Sro Mar 06, 2024 09:20