How to do a competitive analysis

Let’s say you’re starting your own business. Or you’re trying to build a new digital strategy. Or you want to be the next Kardashian. Or you want to launch a super exciting new marketing campaign that’s going to blow last year’s sales out of the water. Awesome, go you! Here’s the thing: regardless of what you’re trying to do, who you’re trying to reach, and what you ultimately want to accomplish, you need to know what you’re up against. That means, you need to do a competitive analysis. 

A competitive analysis is exactly what it sounds like -- an analysis of your competitive landscape. It’s looking at those who are in the same space as you, assessing what they’re doing right and wrong, what you can learn from them, and most importantly -- what space exists for you to stand out. This is an exercise we recommend [and do!] with each and every one of our clients, and it’s beneficial on so many levels. It’s a perfect first step in outlining your own strategy, and it helps you keep focused on the opportunities for your particular brand. Once you get a lay of the landscape you can fully see where your business can shine -- it can inform the digital platforms you put your time and energy in, and it can inspire you to be a bit creative with the type of content you might produce and share. 

Read the full piece on our Substack here.