Competitor analysis

Each self-respecting brand wants getting to the top of prestigious ratings or search engine results, as due to the leading positions they get even more potential customers and make even more profits.

But to reach such leading positions, you need to perform a competitor analysis of those who are in the tops, ratings, etc.

Selection of competitors

You should understand that there are several types of competitors. Direct competitors offer a similar product and therefore have the same target audience. Indirect competitors offer a similar product, but have a different target audience. Distant competitors have the same target audience, but offer a different product. You can also include not (yet) competitors who offer a different product, have a different target audience, but operate in the same niche.

Collection of information

Start with a customer survey. You don’t need to make a large list of questions. It’s enough to find out unique trade offers of your competitors.

All other information is usually collected by marketing director. It includes:

- search engine results;

- company cards in navigators;

- ratings and conferences;

- mass media news and industry studies.

When you get all the above information about competitors’ positioning, you can start the analysis.