Competitor Analysis: how to conduct a Competitor Analysis

Estimated reading time: 1 minutes

• What is competitor analysis?
• Why is competitor analysis important?
• About The Author

Analysing your own performance only tells half the story. You’ve got to carry out a thorough competitor analysis to fully understand your market.

What is competitor analysis?

Competitor analysis is the practice of evaluating the other players in your market and gathering performance data with the goal to enrich your marketing and product strategy.

Why is competitor analysis important?

Competitor research is essential for a couple of reasons:

Discover your competitors: simply understanding who is operating in the same space as you and targeting the same audience brings huge insight into the kind of content you should be serving. You can see what they’re doing right and how you might emulate their successes.
Identifying opportunity: you can stumble on some real gems whilst spying on your competitors; you’ll be able to identify potential partners, resellers, advocates and even PR opportunities.

About The Author

artificialrace.com

See author's posts