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How to build a competitive analysis report with examples and tools

Sprout Social

Your company is launching a new product, eyeing a new market segment or contemplating a strategic pivot—as a seasoned marketer, your first move would be to conduct a competitive analysis. This is where competitive analysis reports become critical, providing you a roadmap for translating raw data into strategic direction.

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How to conduct an effective competitive analysis in 7 steps

Tomorrow People

Read on to learn about the most crucial steps of effective competitive analysis. Before conducting a competitive analysis, you must first pick what organisations you’re going to focus on. Most companies try to expand via market penetration—by finding new ways to make their current offering more appealing to their current segments.

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Competitor mapping: The benefits and how to create your own

Sprout Social

If you want to succeed as a business, you need to keep an eye on your industry through competitor analysis. Competitor mapping is the cornerstone of competitive analysis. To help visualize your competitive analysis, competitor maps contextualize your research and competitive data, enabling you to make informed business decisions.

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Does Your Growth Strategy Need an Intervention?

Vision Edge Marketing

It often involves tactics like price adjustments, loyalty programs, and improving customer service. Market Development : Entering new markets or reaching new customer segments. SWOT and Competitive Analysis : Reevaluate your business’s strengths, weaknesses, opportunities, and threats.

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How to Conduct a Market Opportunity Analysis

Hubspot

That’s where market opportunity analysis comes in. Market opportunity analysis can help you narrow down your options to the ones with the greatest potential. Who should conduct a market opportunity analysis? Here are five important benefits you’ll get from market analysis. That answer is, " everyone."

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Competitive monitoring: tracking the competition to stay ahead

Sprout Social

It’s the first step of competitive analysis that involves gathering the intelligence you need to make informed business decisions. This includes keeping tabs on your competitors’ social media activity, pricing changes, marketing campaigns, product launches and more. Where are they getting most of their traffic from?

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Using Your Competitors’ Knowledge to Build Your Business

The Lead Agency

By understanding exactly who your competitors are, and what they are offering, you are best positioned to set your prices competitively and to market your products and services in a way that stands out. Utilising online tools such as Google Trends , SEMrush , or SimilarWeb aids in identifying digital competitors and their online presence.