How to evaluate your competitors
Posted: Wed Jan 29, 2025 7:15 am
There are several techniques for analyzing competitors – such as the already famous benchmarking – but you don't need to go that far. It is possible to listen to your competitors in simple ways, mainly using online tools such as websites , email and social networks .
The first step is to find out who your competitors are . Search Google for the term “company + your industry/products/services” and see which vp administration email database companies appear. If you want, you can also narrow your search by region – adding your state or city to the search term. Then, make a list of 4 or 5 companies that seem to have the same focus and offer the same services/products that you do.
Next, it’s time to analyze the online communication media of each of these companies. Check:
The product/service catalog: are they similar to yours? How are they different?
The information provided on the website: is it complete? Does it help the customer find and contact the company easily? Does it make the company's values and purpose clear?
The existence of email marketing : Does the company offer specialized content in exchange for emails? Is there a field to sign up for a newsletter? Sign up! As the weeks go by, you will be able to analyze what type of content is offered via email.
The company’s social media: An analysis of the company’s latest posts and stories will tell you what type of content the company publishes, whether the products are being promoted well, and whether there is any specific content that seems to be catching consumers’ attention. This can serve as inspiration to help you create specific actions!
How to use competitor analysis in marketing strategy?
Now you know what to look for and how to find this information. But… how do you use it?
Comparing what you find out there to how your company uses digital tools. After what you’ve seen, can you say for sure that your website provides all the necessary information? Is your product catalog up to date and still relevant? Is your content on social media turning you into an authority in your field?
If the answer is “no,” it may be time to stop and do a deeper analysis . For each company you analyze, put this data into perspective and also understand whether what you are detecting is a pattern or a one-off action. The help of a person specialized in digital strategies can help you identify areas for improvement in your communication.
And here's another very important warning: what works for your competitors is not the same as what will work for you. That's not what this research is for! What works for you is reinforcing your own authority and using your differentiators to stand out in the market . That's what ultimately results in sales and increased profits.
The first step is to find out who your competitors are . Search Google for the term “company + your industry/products/services” and see which vp administration email database companies appear. If you want, you can also narrow your search by region – adding your state or city to the search term. Then, make a list of 4 or 5 companies that seem to have the same focus and offer the same services/products that you do.
Next, it’s time to analyze the online communication media of each of these companies. Check:
The product/service catalog: are they similar to yours? How are they different?
The information provided on the website: is it complete? Does it help the customer find and contact the company easily? Does it make the company's values and purpose clear?
The existence of email marketing : Does the company offer specialized content in exchange for emails? Is there a field to sign up for a newsletter? Sign up! As the weeks go by, you will be able to analyze what type of content is offered via email.
The company’s social media: An analysis of the company’s latest posts and stories will tell you what type of content the company publishes, whether the products are being promoted well, and whether there is any specific content that seems to be catching consumers’ attention. This can serve as inspiration to help you create specific actions!
How to use competitor analysis in marketing strategy?
Now you know what to look for and how to find this information. But… how do you use it?
Comparing what you find out there to how your company uses digital tools. After what you’ve seen, can you say for sure that your website provides all the necessary information? Is your product catalog up to date and still relevant? Is your content on social media turning you into an authority in your field?
If the answer is “no,” it may be time to stop and do a deeper analysis . For each company you analyze, put this data into perspective and also understand whether what you are detecting is a pattern or a one-off action. The help of a person specialized in digital strategies can help you identify areas for improvement in your communication.
And here's another very important warning: what works for your competitors is not the same as what will work for you. That's not what this research is for! What works for you is reinforcing your own authority and using your differentiators to stand out in the market . That's what ultimately results in sales and increased profits.