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Competitor mapping: The benefits and how to create your own

Sprout Social

This type of analysis can help you discover how your brand can differentiate itself through marketing. You can create these through design platforms like Canva, but there are also tools like Sprout that can automate visuals as well. SWOT analysis A SWOT analysis chart is a classic example of a competitor map.

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20 B2B Marketing Strategies That Will Deliver Success In 2021

Marketing Insider Group

Embrace Automation and Martech. One of the most common ways to get started is by using your marketing agency or internal committee to identify your top five to ten competitors and conduct a SWOT analysis for each. Embrace Automation and Martech. Partner with a Marketing Agency. Use Retainer vs. Project Contracts.

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Competitive monitoring: tracking the competition to stay ahead

Sprout Social

By keeping an eye on your competitors’ activities, you can learn from their wins and losses, develop foolproof strategies, better position your products and differentiate your brand. There might be a new automation software slashing marketing costs in half. Stay on top of industry trends Things are always changing in business.

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How to gain a competitive advantage by analyzing marketing initiatives by competitors

Sprout Social

Use their approach as a guide—or try something entirely different to differentiate your brand. They will gather and analyze competitor data about your competitors’ strengths, weaknesses, opportunities and threats (SWOT). For example, adding Sprout’s marketing toolkit makes competitive analysis less daunting and more automated.

Planning 106
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ITSMA Marketing Vision 2021: my Top 10 “Insanely Great” Ah Hah Moments for Marketing Leaders

Marketing Insider Group

Understand how well you meet the customer’s needs, where you have a “differential advantage” (an old Michael Porter concept that’s new again) and know how well your competitor does against you as well. And yes, Competitive Intelligence comes into play in a big way.

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19 B2B Marketing Strategies That Are Still Important for 2019

Marketing Insider Group

One of the most common ways to get started is by using your marketing agency or internal committee to identify your top five to ten competitors and conduct a SWOT analysis for each. Embrace Automation and Martech. Marketing automation tools help you reach your prospects and personalize communications.

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Competitive insights: 6 essential market factors and how you can collect them

Sprout Social

A good example is the video game console market and its three biggest companies—Microsoft, Sony and Nintendo—which differentiate their products through positioning and product design. Gathering these insights can reveal how your competitors differentiate from each other, which can better inform your business’s ideal position in the market.

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