When was the last time you did a competitive analysis for your brand? If you’re not sure, you’re probably missing out on an important amount of intelligence that could help you grow your brand.
What is a competitor analysis? Also known as a competitive analysis, this is the process of identifying competitors in your industry and doing research into their marketing strategies. This information can be utilized as a point of comparison to identify your brand’s strengths and weaknesses relative to your competitors.
There are several ways you can analyze your competitors, and SEMrush will help you by covering the basic steps you need to know in order to complete an analysis.
SEMrush has broken down the steps into the following:
- Identify your competitors
- Create competitor profiles
- Identify competitor products, pricing, place, and promotional strategies
- Perform a SWOT analysis
Check out the full post on SEMrush’s post here for the full details.