How Can Competitor Analysis Inform Marketing Strategies?

You are here:Home»Knowledge Centre»SEO Knowledge Centre»How Can Competitor Analysis Inform Marketing Strategies?

We are rated as the Best SEO and Google Ads Agency of 2024. Check out our Google and Clutch reviews below.

No fixed contract, just MONTH BY MONTH
Affordable and FAIR prices
Fast responses WITHIN hours
We love getting RESULTS
PPC iconSEO icon
Five star rated company★★★★★
GET YOUR FREE AUDIT & PROPOSAL

How Can Competitor Analysis Inform Marketing Strategies?

Competitor analysis is a valuable tool for your marketing strategy. It provides valuable insights into your competitors, helping you make data driven decisions, gaining a competitive edge. 

Getting to Know Your Competitors

Before you start looking at competitor analysis for your marketing strategies, it's important to categorise your competitors:

  • Direct competitors – these are those that sell identical products and services to the same target audience as you. They are direct competitors and the first competitors that will come to your mind
  • Indirect competitors – offer similar products and services with different end goals. They may serve the same customer base, but they have a different approach. Knowing these competitors provides you with alternative strategies and marketing opportunities
  • Substitute competitors – may not offer the same products and services, but they do caters to the same target audience. Knowing these competitors is important, influencing your customers choices, it provides insights into consumer preferences, along with market trends.
How Can Competitor Analysis Inform Marketing Strategies?
GET YOUR FREE ONLINE QUOTE

How Competitor Analysis Compliments Marketing Strategies

Competitor analysis can be a vital tool to help you enhance your marketing strategies:

Why You Need to Carry Out a Competitor Analysis

With more businesses relying on the internet to reach their target audience, you need to have the insights and information at hand to push forward and reach your target audience. Competitor analysis can be a valuable tool, helping to:

Identify Business Strengths and Weaknesses

When you study and analyse your competitors, you can identify your own strengths and weaknesses, providing you with information on your positioning in the market. It is valuable when it comes to communicating with your potential customers. When you know your business weaknesses, you can start to grow by identifying areas you need to improve.

Know Your Market

When you carry out a competitor analysis, you find companies you didn't know existed, or are considered your competitors. Knowing your competitors is the first step to pushing yourself ahead in front of them. When you carry out a competitor assessment, you can identify any areas in your market that are under served. You can identify gaps, enabling you to expand your offerings to satisfy your potential customers needs.

Identify Industry Trends

When you study your competitors, you can identify industry trends, especially the direction your industry is moving. It's important not to copy a competitor without identifying your own place in the market. Always evaluate your customers needs and then provide them with value.

Set Goals for Future Growth

When you do a competitor analysis, it should always include businesses that are smaller and larger than your own, giving you a good overview. When you study established businesses, you have a model to work with, showing you what success looks like, helping you compare your own future growth. 

Conclusion

A competitor analysis is a valuable tool when it comes to your marketing strategies. You learn what your competitors are doing, what works and what doesn't, along with their target audience. These are all elements that can be included into your own digital marketing strategy, helping you push forward and grow your brand.

RESEARCH
Understanding your market and target audience.
1st step
STRATEGY
Putting together a clear and precise road map.
2nd step
IMPLEMENTATION
Putting everything into practise and making it work.
3rd step
MEASUREMENT
Tracking your success with tools to ensure progress.
4th step
Testimonials

See What Our Delighted Clients Say About Us

Genie Crawl carried out a detailed SEO audit for my tutoring website and explained everything in a clear and understandable way. I hired them straight away and since then I have seen a noticeable improvement in the traffic and leads coming to my website.

Jalisa Ogundelu
Owner

Awesome service, Tony and the team have been great with completing our website and meeting all the deadlines we set. They have lots of bright ideas and created so much value to our business. Our search engine rankings are now on the first page of the Google! We wouldn't have managed this without you guys!

Anna Farra
Owner

Excellent service and great results with our Google Ads account. They are always there at the end of the phone when we need them and they are a friendly bunch of people to deal with. We are very happy with the results.

Olesia Luspa
Owner

Genie Crawl has helped massively with my rankings as a business owner using SEO. My business is doing very well now, all thanks to them!

Daniel Rushton
Owner

Genie Crawl is a very efficient company to work with; they were clear on what they felt they could offer and assisted me in improving my SEO rankings.

Rob Cain
Owner

GenieCrawl was recommended to me for their SEO optimisation services and they have been great to work with. Our traffic jumped straight away and our business has gone from strength to strength thanks to their support.

John Carter
Owner

I was really struggling to get my SEO ratings higher for my business, and my website noticed on google. Thanks to GenieCrawl and their excellent service and SEO knowledge, I was able to increase my rankings sufficiently and am now reaping the benefits of their optimizations. I would highly recommend their service if you are struggling with SEO rankings as I was.

Fynn Healy
Owner

As a new business start up we needed help driving traffic to our website. In all fairness this was an area we were all pretty clueless on. Genie Crawl have been invaluable to us and undoubtedly have been a driving force to increasing sales. They are always there with helpful advice when we need them. Thanks!

Sarah Williamson
Owner

I was a little skeptical about hiring a company to help with the SEO for my website, but I am over the moon with my decision to work with Genie Crawl. They have really increased the traffic to my website and I would highly recommend them to everyone!

Becky Townsend
Owner

Fantastic company. They've been essential in getting us the business that we need. Would completely recommend. We've really found that our rankings have gone through the roof. SEO experts for sure! A+

Lee McRae
Owner
Contact Details

Contact Us

Visit Our Location
US: 244 5th Avenue, New York City, New York, 10001
UK: 120-122 High Street, Whitton, Twickenham, TW2 7LL
Get in Touch

Drop a Line

Complete the form and a member of our team will be in touch shortly to discuss your enquiry.