Competitive analysis: How to keep up with the competition

Good to know:

Competitive analysis provides valuable insights into the strengths and weaknesses of your competitors and helps you to better understand and strengthen your own position in the market. With a precise competitive analysis, you can develop targeted measures to set yourself apart from your competitors.

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A competitive analysis helps you find your place in the market

Competitive analyses are essential in marketing. A competitive analysis provides you with helpful insights to continuously improve your strategies and strengthen your market position. With the right tools and a systematic approach, you can gain valuable information that helps you gain a competitive advantage.

Competitive analysis methods

There are various methods for carrying out a competitive analysis. We would be happy to explain a few methods. The mix of the most suitable methods for your company and the requirements of the relevant markets is usually the best solution

  1. SWOT analysis: Evaluate the strengths, weaknesses, opportunities, and risks of your competitors.
  2. Benchmarking: Compare your own performance with industry best practices
  3. Tools: Analyze the competition's digital strategy or content strategy using tools such as SEO-relevant analysis tools. Or analyse the developments of the various competitors.
  4. Competitive monitoring: Regularly review your competitors' activities and strategies.
  5. market research: Using surveys, interviews, and data analyses to gain detailed information about the competitive landscape

Competitive analysis steps

You've decided to do a competitive analysis. This is how you can proceed now:

  1. Identification of competitors: Determine who your direct and indirect competitors are. Ideally, list them in a matrix. Because you'll soon notice that not all competitors have the same relevance.
  2. Collect data: Use various sources, such as SEO tools, company reports, and social media, to gather information about your competitors. For example, have you ever bought your competitors' products? What are the processes, what are the procedures and what is the price/performance ratio?
  3. analysis: Evaluate the collected data to identify the strengths and weaknesses of your competitors. Also analyze the relevance of the various competitors in the market.
  4. Strategy development: Use the results of your analysis to formulate measures to increase your competitiveness.

During the competitive analysis process, a certain degree of uncertainty will suddenly arise. At the latest when the resulting strategy is formulated. This is the best time to bring in our Yoline specialists who can help you out. It's quite possible that you'll need additional data analysis to make decisions. At Yoline, we have experience with competitor analyses and know other suitable sources. Maybe you just need support or the right structures for your insights — we can help with templates. Get in touch with us and we'll weigh up how involved we are depending on the situation.

Who is your competition?

Do you know what your competition is doing better or differently than your company today?
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FAQ

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What is a competitive analysis?

Yoline marketing agency call-to-action arrow up in Yoline's corporate colors. Part of the corporate design of Yoline, the creative agency in Valais
Yoline marketing agency call-to-action arrow up in Yoline's corporate colors. Part of the corporate design of Yoline, the creative agency in Valais

Thanks to competitive analyses, you get to know your competitors. To successfully market services and products, it is an advantage to know the strategies, products, services and market positions of your competitors. The aim is to collect information that helps you optimize your own strategies and consciously build up competitive advantages.

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Why is competitive analysis important?

Yoline marketing agency call-to-action arrow up in Yoline's corporate colors. Part of the corporate design of Yoline, the creative agency in Valais
Yoline marketing agency call-to-action arrow up in Yoline's corporate colors. Part of the corporate design of Yoline, the creative agency in Valais

A professionally prepared competitive analysis helps to forget assumptions and to know data-based facts. It can be a great advantage to identify the strengths and weaknesses of your competitors and derive valuable insights for your own marketing strategy. You can better understand market trends and identify opportunities and threats at an early stage. No money is earned from a competitive analysis alone. They are an important part of the foundation on which effective and profitable strategies can be built.

The power of SEO-Competitive analysis tools

In the digital age, SEO tools are a cost-effective method for competitive analysis. Tools like Sistrix give us direct insight into content strategy, agencies like Yoline can provide support here and save license costs. Competitive analysis using SEO tools enables us to continuously monitor changes in the market. The development of digital visibility is interesting and not irrelevant; this is how priorities and measures can be derived. This information is not only crucial for a general competitive analysis, but also provides a solid starting point for formulating the individual SEO strategy for your company.

Competitive analysis example using SEO tools

With Sistrix, for example, we can analyze our competitors' keyword strategies and find out which terms bring them the most traffic. We can see how often they update their content and what backlinks they get. We will soon find out the technical structure of the website and consider the content strategy from this. These insights enable us to react specifically to competitive weaknesses and adapt our own SEO measures accordingly.

 

Contact us to find out more about how we can support you with our expertise in competitive analysis and help you expand your market advantage.

Who is your competition?

Do you know what your competition is doing better or differently than your company today?
Let's find out!