Looking to enter a new market or need to overcome a competitor? Our tried and trusted competitive-intelligence analysis can help you identify ways to achieve this, whether you’re an entrepreneur, business owner, new startup business, marketer or a product manager.
By using social listening, you will gain a competitive overview from a global or regional perspective to understand the content driving engagement for your competitors and identify key topics and themes, strengths and weaknesses. Social listening brings you the best of competitor analysis without any hassle.
Competitor analysis provides you with a comprehensive vision of the strengths and weaknesses of current and potential competitors. This aids in identifying opportunities and threats for your organisation and predicts your competitors’ initiatives, future plans and strategies.
Competitor analysis is a crucial part of the groundwork required by every business wishing to succeed and stand out. Competitor analysis isn’t always as easy as it may seem and defining who your competitors are is a task of its own.
At Convosphere, our experienced insights analysts deliver expert insights in market positioning as a crucial part of industry benchmark analysis. With our comprehensive market segmentation, targeting and positioning, you’ll be able to identify key competitors, fine tune your marketing strategy, and benchmark your overall performance.
Step ahead of your competition
Getting the edge over your competitors is essential if you want your business to succeed. However, we know this is easier said than done. Simply identifying who your competitors are and what they sell is not enough to be one step ahead.
To stand out from the rest of the competition, it is important to figure out where your brand stands. Brands can use social listening for business intelligence competitor analysis which will allow for benchmarking against top competitors within the industry to see who is winning and driving the most engagement.
Our in-depth competitor reports uncover everything you need to know about your competitors’ activity and will enable you to be one step in front of the market’s positioning. In turn, this will allow you to identify opportunities for growth and discover strategies that aren’t performing as well as they should.
You can also gain real-user feedback on competitors’ products and services as well as geographic and demographic insights on your customers. In doing this, you can also discover your competitors’ online visibility and brand recognition.
Gathering competitor analysis
Our competitor analysis service uses social listening and social intelligence to provide key insights into how your competitors are perceived across all areas of their business, from product and brand awareness to customer relationship management (CRM) and corporate social responsibility (CSR).
There are a variety of social listening tools which can make competitive analysis much easier and more effective. For example, you’ll be able to see how consumers are responding to an ad campaign run by your competitor, which you otherwise wouldn’t be able to do. This will also provide insights on how your consumers respond to these campaigns and identify which improvements could be made.
Understanding how products are received by your target audience of your competitors and what they like and dislike means that you can replicate a similar idea or at least have awareness of what not to do. You’ll also be able to find out what your competitors’ audience loves and why, which can provide you with guidance on offering a similar service to take advantage of market targeting.
Competitor analysis works by evaluating the structure, product positioning, services and marketing strategies of your competitors. However, it’s important to know which aspects are worth analysing, the best competitors to analyse and compare to and understand how you can use the competitor positioning strategy analysis to benefit your own business.
To learn more about our competitive-intelligence, analysis methods and how they can help you benchmark your overall performance, please get in touch today to receive further information.
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