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Competitor Research/Analysis

When was the last time you ran a competitive analysis for your brand? And most importantly, do you know how to do one efficiently? If you’re unsure, or if the last “analysis” you ran was a quick perusal of a competitor’s website and social media presence, you’re likely missing out on critical intelligence that could help your brand grow.

A competitive analysis is a strategy that involves researching major competitors to gain insight into their products, sales, and marketing tactics. Implementing more robust business strategies, warding off competitors, and capturing market share are just a few benefits of conducting a competitive market analysis.

Competitive analysis can help you learn how your competition works and identify potential opportunities where you can out-perform them. It also enables you to stay atop of industry trends and ensure your product is consistently meeting — and exceeding — industry standards.

Let's dive into benefits of conducting competitive analysis:

  • It helps you identify your product’s unique value proposition and what makes your product different from the competitors’, which can inform future marketing efforts.
  • It enables you to identify what your competitor is doing right. This information is critical for staying relevant and ensuring that your product and marketing campaigns are outperforming industry standards.
  • It tells you where your competitors are falling short — which helps you identify areas of opportunities in the marketplace and test out new, unique marketing strategies they haven’t taken advantage of.
  • Learn through customer reviews what’s missing in a competitor’s product, and consider how you might add features to your product to meet those needs. It provides you with a benchmark against which you can measure your growth.

Essentials of a successful Digital media marketing strategy

Every brand can benefit from regular competitor analysis. By performing a competitor analysis, you’ll be able to:

 

  • Identify gaps in the market

  • Develop new products and services

  • Uncover market trends

  • Market and sell more effectively

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Our team was made to help you understand your industry’s trends, find growth opportunities, and get a broader perspective on your business.

Rhomeson is equipped with special tools to help you get a competitive edge and cater to any of our client’s needs. When it comes to services at Rhomeson, we target your industry’s events, competitors, competitors’ locations, and more. People are targeted based on the sites and areas that matter most to your target audiences and help reach your goal and increase revenue. Business is offered with in-depth research on your competitor and location.

 

What is competitive market research?

 

Competitive market research focuses on finding and comparing key market metrics that help identify differences between your products and services and your competitors. Comprehensive market research helps establish an effective sales and marketing strategy that helps your company stand out from the crowd.

 

Every brand can benefit from regular competitor analysis. By performing a competitor analysis, you’ll be able to:

 

  • Identify gaps in the market
  • Develop new products and services
  • Uncover market trends
  • Market and sell more effectively

 

As you can see, learning any of these four components will lead your brand down the path of achievement.

 

How to do a Competitive Analysis

 

  • Determine who your competitors are.

 

  • Determine what products your competitors offer.

 

  • Research your competitors’ sales tactics and results.

 

  • Take a look at your competitors’ pricing, as well as any perks they offer.

 

  • Ensure you’re meeting competitive shipping costs.

 

  • Analyze how your competitors market their products.

 

  • Take note of your competition’s content strategy.

 

  • Learn what technology stack your competitors’ use.

 

  • Analyze the level of engagement on your competitors’ content.

 

  • Observe how they promote marketing content.

 

  • Look at their social media presence, strategies, and go-to platforms.

 

  • Perform a SWOT Analysis to learn their strengths, weaknesses, opportunities, and threats.

 

 

Our team was made to help you understand your industry’s trends, find growth opportunities, and get a broader perspective on your business.

 

Rhomeson is equipped with special tools to help you get a competitive edge and cater to any of our client’s needs.

 

When it comes to services at Rhomeson, we target your industry’s events, competitors, competitors’ locations, and more. People are targeted based on the sites and areas that matter most to your target audiences and help reach your goal and increase revenue.

 

Business is offered with in-depth research on your competitor and location.

 

We offer customized strategies to win over customers and beat your competition. Here is the list of a few services we provide under competitor research:

 

  • Share and invest in clients:

Rhomeson also shares and invests in the success of our clients, which is why we have compiled a list of valuable tools such as Customized strategy, Conversion tracking, Devoted accounts manager, Behavioral targeting, and Demographic targeting.

 

  • Profitable and scalable for clients:

We at Rhomeson, with our competitor research services, have produced efficient and detailed reports that will be profitable and scalable for many globally. We can help your business stay ahead of competitors and improve tactics with our knowledge and skills.

 

  • Daily updates and reminders:

With 24/7 services, real-time alerts and reminders, and more than 100 million sources, our highly professional team members do all the hard work for you; all you need to do is sit back and relax!

 

  • The business report in affordable price:

Money is essential for any business. With our services, you can obtain timely changes and avoid mistakes at an affordable price. We can also help companies with visual reports and insights to never stress again collecting data and creating information sheets by themselves.

 

Competitor research is the best way to determine who operates in the same field as you. It encompasses all strengths, weaknesses, and positioning of a company. The tailored approach at Rhomeson helps deliver insight into your competitor’s activities, helping you refine, adjust, and stay ahead of the competition and your rivals