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How Important Is Competitor Analysis?

Performing a competitor analysis helps you to identify the ins and outs of how your competition works. You can gain insight into their products, sales, and marketing strategies, which you can then use to create a better, more effective strategy that will allow you to be in a better position against them.

At the Gibbs Brand, we are experts in analyzing competitive standards based on different parameters like revenue, strategy, traffic volume, location, and other viable dimensions. We strategically analyze and collate your competitor’s information, their practices, products, strengths, weaknesses, and campaigns to identify your position against them, and improvise your marketing strategy to gain a competitive edge.

In a competitive industry, it is crucial your brand is known to the audience. This is only possible when your brand stands apart from your competitors. We help you build your brand value by providing information regarding the competitors so that you can create unique content for your brand.

To make the best analysis, you must first pick the right competitors to analyze, because the insight you gain from the analysis is crucial to how you position your business moving forward. It is best to include a few different competitors to get a more comprehensive result. (Some of the bigger companies in your industry along with some of the smaller ones).

But what type of information would be of value, you might ask. Our team starts at the very beginning. We look for basic information about the competition such as the company’s founding year, the location, the company culture, number of employees, etc. We then move on to their products, services, pricing, marketing strategies, and customer base.

Once this is done, you can measure your brand’s performance in relation to industry leaders. This helps you improve product quality, marketing strategy, customer service, and sales in your company. The analysis might even reveal that your company has a competitive edge that can strategically put you ahead of the competition. Let our team help you identify where you stand in your industry.

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