1. Identify your competitors
Posted: Wed Jan 22, 2025 10:12 am
Consider all of your competitors. This includes your direct, indirect and emerging competitors.
Direct competitors offer similar products and/or services as croatia b2b leads your business. Indirect competitors target the same market or customer segment, but offer a different product or service. For example, cable and streaming services are indirect competitors because they both offer film and TV shows. SEO competitors—businesses that outrank you in search engine results—can also be indirect competitors. Emerging competitors are companies that just entered the market and have the potential to disrupt the industry.
You can also consider replacement competitors. Replacement competitors offer products or services that fulfill a similar need or problem. For example, a bowling alley and roller rink may be replacement competitors because they both offer family-friendly entertainment.
Once you consider all of your competitors, select about four to 10 businesses. Review their websites, social media and overall online presence to discover more about their product, target audiences and marketing strategies.
2. Select a focus area
Identify focus areas such as product range, pricing or other variables to niche your research down and concentrate on the most relevant things to analyze. For example, if you wanted to create a competitor map for social media, you would take an in-depth look at your competitors’ profiles, from monitoring their engagement and most active channels to their overall content strategy. To help you get started, think about which areas you want to analyze deeper based on your goals. For example, if your brand is launching a new product, one focus area could be price.
3. Write a list of your strengths and improvement areas
List out your brand’s strengths and weaknesses. Consider brand perception in comparison to your competitors. What do people think about each brand and product? After considering strong and weaker areas, brainstorm a list of solutions or gaps to fill.
Direct competitors offer similar products and/or services as croatia b2b leads your business. Indirect competitors target the same market or customer segment, but offer a different product or service. For example, cable and streaming services are indirect competitors because they both offer film and TV shows. SEO competitors—businesses that outrank you in search engine results—can also be indirect competitors. Emerging competitors are companies that just entered the market and have the potential to disrupt the industry.
You can also consider replacement competitors. Replacement competitors offer products or services that fulfill a similar need or problem. For example, a bowling alley and roller rink may be replacement competitors because they both offer family-friendly entertainment.
Once you consider all of your competitors, select about four to 10 businesses. Review their websites, social media and overall online presence to discover more about their product, target audiences and marketing strategies.
2. Select a focus area
Identify focus areas such as product range, pricing or other variables to niche your research down and concentrate on the most relevant things to analyze. For example, if you wanted to create a competitor map for social media, you would take an in-depth look at your competitors’ profiles, from monitoring their engagement and most active channels to their overall content strategy. To help you get started, think about which areas you want to analyze deeper based on your goals. For example, if your brand is launching a new product, one focus area could be price.
3. Write a list of your strengths and improvement areas
List out your brand’s strengths and weaknesses. Consider brand perception in comparison to your competitors. What do people think about each brand and product? After considering strong and weaker areas, brainstorm a list of solutions or gaps to fill.