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Improve Your Organization with a Competitive Landscape Analysis

Competitive Landscape AnalysisWithin the evolving world of digital marketing, there are several tools that can be extremely useful to help a brand better understand its strengths and weaknesses within the online marketplace. One of our favorites is competitive landscape analysis. This allows brands to identify their competition and how they can go above and beyond to attract new customers.

After all, what’s wrong with a little friendly competition?

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Competitive Landscape Analysis 101

Simply put, a competitive landscape analysis is an ongoing process of identifying, researching and evaluating your competitors. It looks at everything from brand interaction on social media platforms to website content and updates, as well as a brand’s overall reputation and impact.

The data from this analysis proves why it’s essential for businesses to adopt a forward-thinking outlook regarding their online presence. Keeping tabs on how the industry and specific markets adapt to change and how competitors react to these changes allows brands to remain competitive and relevant.

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Uncover Important Data

A competitive landscape analysis will categorize key areas of focus and rank your business against others to benchmark your place within the market. Some of the key areas of focus might include:

  • Product/Service Quality
  • Cost and Price Structure
  • Technology and Innovation
  • Customer Service/Support
  • Financial Position
  • Market Presence
  • Brand Recognition
  • User Experience
  • Distribution Channels
  • Company Culture
  • And much more

... you can begin to paint an accurate picture of where exactly you rank alongside the competition.

While some companies may have incredible product offering, their market presence may tell a different story about how well they’re doing. It’s important to look at the whole picture from all angles, as it allows you to see where you can improve and revisit your goals and ambitions for the future. It also provides you with further insight into the metrics you should focus on, identifying relevant KPIs that will reveal growth and improvement areas that you can measure overtime.

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Stand Out from the Crowd

With this critical data, you gain a much more realistic outlook of your specific industry and an understanding of where you stand among competitors. This, in turn, can help you identify your own unique competitive edge.

From reevaluating your digital marketing strategies to maintaining your website to implementing a new social media strategy – this information can trigger a transformation within your company for the better. But how do you get your hands on it? And how do you handle those strategic changes when the time comes?

Having a digital marketing partner at your side can make this process a breeze. Not only can we put together a comprehensive competitive landscape analysis, but our team of experts can provide your company with a plan to ensure your business succeeds.

Discover where you rank in the marketplace and how we can help you grow and scale your business for years to come.

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