Digital Marketing Competitor Analysis
If you want to outperform your competition, you need to know what strategies they use, the campaigns they run, and how they attract leads to their business. A digital marketing competitor analysis is fundamental to your marketing success. Keep reading to learn more about digital marketing competitor analysis and see how our competitor analysis services can help your business grow.
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What is digital marketing competitor analysis?
Get to know your competition
Help you understand your market
Learn competition’s strengths and weaknesses
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You can consider a digital marketing competitor analysis an in-depth look at your competition. In this analysis, you identify your competitors and analyze their marketing process. During analysis, you look at your competitions’ strengths and weaknesses and how they compare to your own business, services, and products.
When you conduct a competitor analysis, you compare your company’s performance to your competition to help you improve your strategies.
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The Three Kinds of Competitors
Direct competitors are typically the most dangerous since they’re essentially a carbon copy of your business in many ways.
Your direct competitors offer the same products and services as your company, and they also have the same target customer. You can even take it a step further and say that your direct competitors also have the same goals and work on a similar business model.
Your indirect competitors offer the same products and services as your company, but they likely have a different business model, or different business goals.
A good example of an indirect competitor would be a mom-and-pop candle shop competing with Yankee Candle.
This competition can still be dangerous, but if you focus on your target audience and your personal business goals, indirect competitors won’t stand in your way.
Replacement competitors offer products or services that could potentially replace the products and services you offer. So, if your products or services fail, and your customers want to try something different to accomplish their goal, they could rely on your replacement competitors.
A good example of this would be a book store versus a video game store. The book store is at risk of losing customers to a company that offers the latest and greatest video games.
Why is digital marketing competitor analysis important for your business?
Competitor analysis is a critical component of your business’s success. Here’s why you need digital marketing competitor analysis:
Best Tools for Competitor Analysis
These are the top five tools that we recommend for performing a competitor analysis.
Digital marketing competitor analysis from NeuBrain
NeuBrain is a top digital marketing competitor analysis company that can help you analyze your competition and find opportunities to help your business grow. Let’s look at what you can expect from our competitor analysis services.
Identify your competition
When you invest in competitor analysis for digital marketing, we’ll help you identify your competition. We’ll take an in-depth look at your industry to help you identify your biggest competitors. Our team will help you compile a list of companies that are the biggest threats to your business.
Perform a SWOT analysis
When you rely on NeuBrain for your digital marketing competitor analysis, we’ll conduct a SWOT analysis for you. SWOT stands for:
With our SWOT analysis, we help you look at what your competition does well and what they don’t do as well. We can help you take this information and compare it to your business’s strengths and weaknesses.
Additionally, we help you identify opportunities where your business can outrank your competitors. We’ll also identify any threats that could occur in your market.
Provide tools to help you analyze your competition
At NeuBrain, our digital marketing competitor analysis services include access to our proprietary marketing software, MarketingCloud.
With MarketingCloud, you get access to CompetitorSpy. CompetitorSpy enables you to look at your competition and understand what you need to do to outrank and outperform against them. From comparing keywords to content, we’ll help you understand what your competition is doing so you can create a more impactful strategy.
Why choose NeuBrain for your digital marketing competitor analysis services
We have a team of experts
All of our work is done in-house
We know how to drive results
Our clients love their results
We’re a one-stop-shop for digital marketing
We make your goals our goals
Start conducting your digital marketing competitor analysis today
By conducting a competitor analysis, your business will better understand your competition, so that you can have the best chance of outperforming them. If you’re ready to start analyzing your competition, NeuBrain is here to help.
We have over 20 years of experience helping people improve their marketing tactics to outrank their competitors. You can feel confident that our team of experts can help you develop a digital marketing plan that drives results.
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