Each year in January Christina likes to go back and revisit her competitor analysis. In January, everyone is looking at their marketing strategy, setting goals and revisiting platforms. By doing your competitor analysis in January you can get a really good benchmark on what your competitors think they should be doing. Listen in to Christina Talks today to find out more on how to get the most out of your competitor analysis.
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KEY TAKEAWAYS
Competitor analysis is simply about getting an understanding of the differences between you and your competitor and looking to find where there are the opportunities for you to do better.
Many people spend too much time throughout the year looking at competitor analysis. If you spend every day looking at it, you are leaving much less time to look at your own business.
After doing her initial analysis in January, Christina likes to take a look again in March time to see who has ‘moved the needle’ and who hasn’t.
Look at the branding, content and keywords of competitors. Also look at the promises they are making and the problems they are identifying and saying they can solve.
Look at both branded and unbranded content of your competitors.
Be careful when looking at connections of businesses. Sometimes you have to ask how loyal is the following they have? It can be more useful to look at engagement on social media rather than numbers of followers.
Just pick two and three competitors and try and get something meaningful at the end of it. Don’t spend weeks on it.
BEST MOMENTS
01:22 - “I realise competitor analysis is not a sexy subject, but it is something we all need to do”
03:34 – “By the second week they’ve forgotten it was even a goal in the first place”
04:36 – “You can see how that is comparing with what you are doing”
12:54 – “And what I don’t want you to do is end up down a rabbit hole, I don’t want you to spend weeks on this competitor analysis”
15:43 – “Do it, keep it short and sweet”
VALUABLE RESOURCES
Christina Talks Podcast
ABOUT THE HOST
Christina has been working with SME’s since 2013 to launch, develop and perfect their online presence. In 2019 Christina made the move from employee to business owner of a successful digital marketing agency focused on educating business owners in the use of
social media. Christina is driven by the fact that in today’s world, it doesn’t
matter how big or small your marketing budget is, you can be a major player.
For small businesses, the tools are just as accessible – you just need to know
how to use them!
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