Competitor analysis: how to do it and what you can learn
Why competitor analysis matters
Competitor analysis systematically examines other companies in your market. It identifies their strengths and weaknesses, your advantages and opportunities for a more effective marketing strategy.
What can competitor analysis reveal?
- Product and service range: What do competitors offer, and how do they position themselves?
- Pricing policy: What do competitors charge? Which discounts and promotions do they offer?
- Marketing channels: Where and how do competitors advertise? Do they use Yandex Direct, SEO, social media or other tools?
- Target audience: Who do competitors target, and which needs do they meet?
- Strengths and weaknesses: What are competitors' strengths and weaknesses?
- Marketing strategies: Which tools and channels do competitors use to achieve their goals?
How to analyse competitors
- Identify competitors: List direct and indirect competitors.
- Gather information: Study competitor websites, social accounts, campaigns and reviews.
- Analyse the information collected: Compare your business with competitors across relevant criteria.
- Draw conclusions: Identify strengths, weaknesses and opportunities to improve.
What to do with the findings
- Develop a unique selling proposition (USP): Highlight what differentiates your company.
- Improve marketing strategy: Adjust your marketing strategy using the findings.
- Improve products or services: Develop or improve products to meet customer needs better than competitors.
- Improve campaign performance: Optimise Yandex Direct for audiences similar to competitors' or new market segments.
- Improve website SEO: Review competitors' keywords and optimise your site for relevant queries.
- Develop an effective content marketing strategy: Create useful, quality content for your target audience.
Why work with professionals?
Thorough competitor analysis requires time and specialist expertise. The team at ProMarketing.tech will analyse your sector in depth and help develop an effective strategy.
Start work that can improve your business today.
