To carry out an efficient market competitiveness analysis , it is essential to follow some steps and use specific tools that facilitate the process. Here is a detailed step-by-step guide:
The first step in any competitive analysis is to understand what market your company operates in and who your main competitors are.
This means looking at the overall industry list building for mlm landscape as well as specific niches. There are two types of competitors you should identify:
Direct competitors : companies that offer products or services similar to yours and are competing for the same audience;
Indirect competitors : Companies that offer alternative solutions to the same problem you solve.
To help you with this analysis, use the following tools:
Google Search : Use Google to search for keywords related to your industry and identify who appears in the first results;
SimilarWeb : allows you to analyze competitors in terms of traffic, visitor sources and digital strategy;
Crunchbase : Great for identifying startups and emerging companies in your niche market.
2. Collect data about competitors
At this stage, you should delve into data about your competitors. This includes their pricing analysis, market positioning, marketing tactics, digital presence, products offered, and even their interactions with customers.
What to collect:
Prices and offers : compare the prices and packages that competitors offer;
Marketing and communication : evaluate how competitors communicate with their customers, both online and offline;
Strengths and weaknesses : identify what competitors do well and where they are lacking;
Customer Reviews and Feedback : See what customers are saying about competitors on review sites, forums, and social media.
At this stage, count on the help of tools such as:
Ahrefs or SEMrush : SEO tools that allow you to analyze competitors' website traffic, backlinks, keywords, and more;
Google Alerts : Set up alerts to receive updates about your competitors, such as news, new products or strategic changes;
Trustpilot or Reclame Aqui : tools to check the reputation and customer feedback about your competitors.
3. Understand your competitors’ market positioning
Understanding how your competitors are positioned in the market is key to determining where your company can stand out. Ask yourself:
Are they competing on price, quality or innovation?
What is the perception of value that customers have about them?
What customer segment are they focused on?
To do this, use tools such as:
SWOT Matrix : SWOT analysis is a powerful tool for mapping the strengths, weaknesses, opportunities and threats that competitors face;
Brandwatch : to analyze brand impact and see how competitors are being perceived on social media and in the media.