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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. You need to study the strengths and weaknesses of your competitors to help identify opportunities for plays and boost your competitive edge. SWOT analysis A SWOT analysis chart is a classic example of a competitor map.

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How to build a competitive analysis report with examples and tools

Sprout Social

A competitive analysis report typically contains information on marketing tactics, target audience demographics, product comparison and industry trends. Rather than make assumptions, use your report to make data-driven calculations of how your business compares in terms of market share, customers, messaging and differentiation.

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Competitive monitoring: tracking the competition to stay ahead

Sprout Social

Competitive monitoring also involves collecting data on market trends and other key aspects of your industry landscape. 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.

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20 B2B Marketing Strategies That Will Deliver Success In 2021

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. According to a study by SiriusDecisions, 42% of marketers claim that they have been using ABM for at least 6 months. Create Visual Content.

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7 Essential Metrics for Brand Health Tracking

Digilant

Studies show that businesses with robust brand health are likely to outperform their competitors in revenue growth by 60%. Analyzing competitor strategies , strengths, and weaknesses with propel ideas that help differentiate your brand, strengthen your agility in response to market dynamics, and foster brand resilience.

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

Marketing Insider Group

Content runs the gamut from Point of Views (POVs), benchmark studies, and good old plain “advice” based upon experience and expertise. 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.

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5 Essential Elements to Develop Your Competitive Growth Strategy

Vision Edge Marketing

A study in the Harvard Business Review of 10,000 senior leaders revealed that 97% of them believe that being strategic is the leadership behavior most important to their organization. Use this information to identify your strengths, weaknesses, opportunities, and threats (SWOT) and create your SWOT table.