Analyze can be as broad or as focused

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As you like. For example, you may want to focus on optimizing your website. For this, you would look at competitors’ websites to look at their content, UX, and lead generation strategies. What you learn can then help you to apply new CRO strategies. There are many benefits to conducting an analysis which include: Identify barriers and opportunities in a market Identify your value proposition and how it differs from competitors Highlight where competitors are not delivering or have weaknesses Target the most effective digital strategies in your marketplace


Identify new customers and territories Uncover market trends See the potential for a new product or service Establish a benchmark to measure your performance against What does a Competitive Analysis include? A competitive analysis in Exit Mobile Number List digital marketing means that you analyze the different platforms of each of your competitors and see how they contribute to growth. Ultimately it’s about benchmarking against your competitors. Determine competitor types Not all competitors should be treated the same. Split them into categories based on their level of competitiveness. Primary - These are your direct competitors that sell a similar product or service to your audience e.g. Asos and Boohoo. Secondary - These companies offer a similar





version of your product or service low or high-end to a different audience e.g. Target and Gucci. Tertiary - These brands are related to you but don’t compete with your product/service or audience e.g. Red Bull and Patagonia. Segmenting your competitors like this will help you see how they relate to your business. Profile your competitors' target customers Understanding the audience of your competitors will tell you a lot about a business. It will help you to understand who they target and the digital channels they use effectively to do that. The best way to find out about their customers is to see who the brand is appealing to. You could find this out by looking at Their mission statement or ‘About Us’ section.