5. Get closer to your target audience.

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There are tools available that will help you analyze a competitor thoroughly. I do a lot of digital competitor analysis. In most cases, I can find so many opportunities through competitor analysis alone that I could keep my client’s team busy for months.

Top tip: It’s easy to get carried away with competitor analysis and lose sight of what really matters and drives your business. Don’t get too hung up on closing the gap on competitors. You must keep your business front of mind at all times. Do the analysis, but think carefully about the opportunities you will seize. They must be a) right for your business and b) likely to move the needle.

3. Identify your differentiators.
Think of competitor analysis as a chance to reflect on your own business and discover what sets you apart from the crowd.

There’s no doubt that there will be some key differentiators between your business and your competitors. Many will be for good reason, and you’ll be glad to see it.

But if you keep an open mind while conducting your morocco whatsapp number database analysis, there’s a good chance you’ll find differentiators in messaging, word choices, and USPs, some of which may make you think about your own business differently.

Top tip: You should be fairly strategic about competitor analysis. It’s common for brands to focus on the most aspirational competitors, but you need to get honest with yourself and consider your market position. Don’t be afraid to dream big, but balance analysis of the biggest players with some that are closer to where your business is, too.

A good competitor analysis framework zooms in on your audience. It gives you a pulse of your customers by evaluating what they like, dislike, prefer, and complain about when reviewing competing brands.

You can discover how your audience talks about competitors, what they love so you can emulate it if it makes sense, and what they loathe so you can avoid it or use that to your advantage.