Essential aspects of a competition analysis
Posted: Wed Jan 08, 2025 4:38 am
Competitor analysis is a central tool in inbound marketing and in the race to success.
When creating a business, a new project, or simply a new product or service, there are different strategies to discover weaknesses, strengths, opportunities, market positioning and even the viability of the project. All of this is based on analytical exercises, such as SWOT (Strengths, Weaknesses, Opportunities and Threats) and others like it .
Competitor analysis is one of those strategies, and it achieves this through contrast with other actors. In this article we will tell you the keys so that you can do one and it is not in vain.
Competitor Analysis: Stop and Look Around
As a complement to SWOT and other studies, a competitive analysis is essential to discover the weaknesses and strengths of your business, product or service. It focuses on investigating the different players in the market you are targeting in order to discover what values, characteristics or benefits they are highlighting, what their communication approach is, what type of content they create and with what keywords.
This allows us to:
Find out what others are doing to see if it applies to your business, and start costa rica phone number developing something similar (for example, in web content).
Discover the differentials of each one to find the one that no one is using.
Researching a specific aspect of a business to find an opportunity within your own business (from a website to social media posts or actions).
“Keep your friends close, but your enemies closer” or “If you know others and know yourself, you will not be in danger in a hundred battles” are ancient phrases written by Sun Tzu, but they are still relevant today. Walking into a market blindly is like crossing the street without looking to the sides.
A business or a strategy is not only defined by what one says, but also by what others are not saying or what one could take to add to their speech.
Keys to an optimal competition analysis
Below we list a series of central aspects that should not be overlooked in the competition analysis.
When creating a business, a new project, or simply a new product or service, there are different strategies to discover weaknesses, strengths, opportunities, market positioning and even the viability of the project. All of this is based on analytical exercises, such as SWOT (Strengths, Weaknesses, Opportunities and Threats) and others like it .
Competitor analysis is one of those strategies, and it achieves this through contrast with other actors. In this article we will tell you the keys so that you can do one and it is not in vain.
Competitor Analysis: Stop and Look Around
As a complement to SWOT and other studies, a competitive analysis is essential to discover the weaknesses and strengths of your business, product or service. It focuses on investigating the different players in the market you are targeting in order to discover what values, characteristics or benefits they are highlighting, what their communication approach is, what type of content they create and with what keywords.
This allows us to:
Find out what others are doing to see if it applies to your business, and start costa rica phone number developing something similar (for example, in web content).
Discover the differentials of each one to find the one that no one is using.
Researching a specific aspect of a business to find an opportunity within your own business (from a website to social media posts or actions).
“Keep your friends close, but your enemies closer” or “If you know others and know yourself, you will not be in danger in a hundred battles” are ancient phrases written by Sun Tzu, but they are still relevant today. Walking into a market blindly is like crossing the street without looking to the sides.
A business or a strategy is not only defined by what one says, but also by what others are not saying or what one could take to add to their speech.
Keys to an optimal competition analysis
Below we list a series of central aspects that should not be overlooked in the competition analysis.