Are you performing competitor analyses? If you're not, you're missing out on vital information. But why is this important? A competitor analysis should be incorporated into your digital strategy so that you can gain insight into your competitor's marketing tactics. This will allow you to implement stronger strategies that will allow you to out-perform your competition. Now that we understand why it's important, let's look at how we perform an analysis. 1️⃣ Determine who your competitors are. 2️⃣ Analyze how your competitors' market their products. 3️⃣ Understand your competitors' content strategy. 4️⃣ Compare what platforms your competitors' are using. 5️⃣ Perform a SWOT analysis. Five easy steps, am I right? Now you get to spend a ton of time digging into these steps. WRONG. There are tools such as Rival IQ that will do many of these steps for you. All you will need to do manually is determine who your competitors are and perform a SWOT analysis on what you can do to out-perform your competition. Still not sure what to do with this information? Send me a message and I can help!
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