Keep an eye on your Competitor
Outsource competitor monitoring to gain insights on pricing, strategies, and activities, ensuring you stay ahead in the market with informed, data-driven decisions.
Average Revenue Growth per Successful Client
Competitor’s Analysis
Product Analysis
- Feature
Comparison: Detailed
comparison of features offered by
different products, highlighting
unique selling points and
gaps.
- User
Reviews Analysis:
Analyzing customer reviews and
ratings to gauge user satisfaction
and identify common
issues.
- Performance Metrics: Evaluating product performance through benchmarks, speed tests, and other relevant metrics.
Pricing Analysis
- Price
Tracking: Monitoring
and recording product prices across
various platforms and over
time.
- Discount
and Promotion Analysis:
Identifying and analyzing discounts,
promotions, and special offers from
competitors.
- Value for Money Assessment: Evaluating the product price in relation to its features and quality to determine value for money.
SKU Comparison
- SKU
Identification:
Identifying and categorizing SKUs
(Stock Keeping Units) for accurate
comparison.
- Attribute
Analysis: Comparing
attributes such as size, color,
weight, and other relevant
specifications.
- Inventory Analysis: Tracking inventory levels and stock availability across different platforms
Product Description Analysis
-
Content
Quality Assessment:
Evaluating the quality, clarity,
and completeness of product
descriptions.
-
Keyword
Analysis:
Identifying key terms and
phrases used in product
descriptions to enhance SEO and
discoverability.
- Compliance Check: Ensuring product descriptions meet legal and regulatory requirements.
Market Trend Analysis
-
Trend
Identification:
Analyzing market trends to
identify emerging products and
services.
-
Demand
Forecasting:
Predicting future demand for
products based on historical
data and market
trends.
- Seasonal Analysis: Evaluating how seasonal changes impact product sales and popularity.
Competitor Strategy Analysis
- Marketing
Strategies: Analyzing
competitors’ marketing campaigns,
including digital advertising,
social media, and content
marketing.
- Sales
Channels Analysis:
Identifying and comparing the sales
channels used by competitors (e.g.,
online stores, physical retail,
marketplaces).
- Brand Positioning: Assessing how competitors position their brands in the market and the messaging they use.
Customer Analysis
- Demographic
Analysis: Understanding
the target demographics of
competitors’
customers.
- Customer
Feedback: Analyzing
feedback from customers to
understand their preferences and
pain points.
- Loyalty Programs: Evaluating the effectiveness of competitors’ loyalty and rewards programs.
SWOT Analysis
- Strengths
and Weaknesses:
Identifying the strengths and
weaknesses of competitors’ products
and services.
- Opportunities and Threats: Highlighting potential opportunities and threats in the market.
Visual and UX Analysis
- Website
and App Review:
Evaluating the design, usability,
and functionality of competitors’
websites and apps.
- User Experience Comparison: Comparing the user experience offered by different products and services.
Competitive Benchmarking
-
Benchmark
Setting:
Establishing benchmarks for
performance metrics and other
key indicators.
- Performance Comparison: Comparing competitors against established benchmarks to assess relative performance.
Regulatory and Compliance Analysis
- Regulatory
Requirements: Ensuring
products meet necessary regulatory
standards and
requirements.
- Compliance Checks: Monitoring compliance with industry standards and best practices.
Future Projections and Recommendations
- Forecasting:
Providing projections based on
current data and
trends.
- Actionable Insights: Offering strategic recommendations for improvement and competitive advantage.
Step-by-Step Process
01
Consult with the client to set clear goals and objectives for the competitor analysis.
02
Conduct market research to identify and select key competitors based on client objectives.
03
Gather data from competitors’ websites and industry reports to compile comprehensive information.
04
Compare product features, prices, promotions, SKUs, attributes, and content quality. Assess SEO, compliance, trends, and forecasts.
05
Establish performance benchmarks and compare competitors against these standards.
06
Ensure products meet regulatory standards and monitor industry compliance.
07
Analyze collected data and prepare detailed reports summarizing findings and insights.
08
Provide data-driven projections and strategic recommendations for improvement.
09
Present the analysis findings and recommendations to the client, addressing any questions.
10
Schedule follow-up meetings and provide support during the implementation of recommendations.