How much do you know about your competitors? You can learn quite a bit about their strengths and weaknesses. Having this information helps develop a strategic plan and a solid advantage for your own company. All that’s left is to identify opportunities and threats. We know the two perfect analyses for this: Competitor analysis and SWOT analysis. Competitor analysis for the … [Read more...] about How to Combine Competitor Analysis and SWOT Analysis for Success
competitor analysis
What is Market Research?
Simply put, market research is the study of consumer demands and desires. Every company needs customers — otherwise, they’re just running an expensive hobby. Which means, all companies should dedicate time to researching their market. Because if you don’t know why consumer buy products… why should they buy yours? Market research is crucial No matter the industry or product … [Read more...] about What is Market Research?
How to Do Competitor Analysis
Competitor analysis is a tool. It helps firms make accurate decisions based on research about competitors within the industry. It can be considered a guide to leverage advantages while maneuvering away from weaknesses. The following steps are required; it teaches you how to do competitor analysis correctly. 1. Create a list You can’t start the analysis without assembling a … [Read more...] about How to Do Competitor Analysis
How to Do a Competitor Analysis Template
We look to competitors to learn. While some are interested in copying tactics, specifically within marketing, others look to do the opposite. They use competitor analysis to understand what not to do. Because if we can prevent mistakes that will cost time, money, and resources — we will. And it’s best to look to giants within our industry who are at a success level we … [Read more...] about How to Do a Competitor Analysis Template
How Analysis Gives You a Competitive Advantage in Business
A competitive advantage doesn’t need to be huge to have an effect. It doesn’t have to be mind blowing or ridiculously obvious. It only has to be useable by you. Giving discounts on products — when your competitor ignores Black Friday — is a competitive advantage. Targeting niche audiences is a competitive advantage. Treating repeat customers with VIP discounts is a … [Read more...] about How Analysis Gives You a Competitive Advantage in Business
Applying SWOT Analysis in Your Marketing Plan
Concise marketing plans use strategies to drive more traffic, convert sales, increase engagement, and build relationships with customers. In the end, they either meet company goals or don’t. To meet -- or better yet, exceed -- those goals, implement the principles of SWOT into your marketing plan. By determining the strengths, weaknesses, opportunities and threats in your … [Read more...] about Applying SWOT Analysis in Your Marketing Plan
How to Develop a Clear Marketing Campaign
Every product launch requires a marketing campaign. You can’t just build it, toss it out there, and see profits. Truth is, we’re already drowning in digital noise as is. Don’t add to it. Instead, seek out your customers and pull them into the comforts of your landing pages. Because marketing campaigns create interest for your product. But you need research first. If you go … [Read more...] about How to Develop a Clear Marketing Campaign
What is Competitive Analysis and How to Use It
To strengthen the success of your product, competitive analysis is used to identify competitors in your market and analyze their strategies. Using online tools, you can access and monitor competitor’s digital information including domain authority, social media outreach, and keyword analysis. Why competitive analysis The point is to see what’s working for your competitor, … [Read more...] about What is Competitive Analysis and How to Use It
SWOT Analysis: Using Business Opportunities and Threats to Boost Customer Satisfaction
SWOT analysis helps to prepare businesses for success and the possibility of failure. But it can also be narrowed down to analyse how to keep customers happy. Earlier we discussed how to use Strengths and Weaknesses to increase customer satisfaction. Now we’ll look at how using Opportunities and Threats can aid in a better overall experience for your customers. The … [Read more...] about SWOT Analysis: Using Business Opportunities and Threats to Boost Customer Satisfaction
Strategic Planning Tools For Better Results
Strategic planning is the process through which many successful companies and individuals make decisions about future goals and the path to achieving them. If you are at all uncertain about what strategic planning is, be sure to read this article on that matter before proceeding any further with this one. Strategic planning tools are the techniques commonly used to help you and … [Read more...] about Strategic Planning Tools For Better Results