Many businesses start a competitor analysis when they develop a digital marketing strategy and never get back to it later. This is an oversight because in many cases a timely update on your rivals’ online moves could help you adjust your campaign mid-way and help it to perform better in the end.
It is the process of researching and analysing the marketing strategies and business characteristics of the companies operating in a given market.
Competitor tracking is typically carried out to identify and track the strengths and weaknesses of other market players, define your company’s standing in relation to them, and highlight gaps and estimate your potential to fill them.
Competitor tracking normally includes your brand competitors and those that fight for the same users as you. They don’t necessarily need to sell them a similar product or service, but they definitely want to get their attention.
This is a tricky challenge, but may the most intelligent competitor win!
Your main competitors are most likely to stay the same as when you developed the strategy, but their positions and the general situation in the market is constantly shifting.
Product: Competitor Tracker
Annual Fee: R5 000 per annum (SPECIAL OFFER – 2 months FREE)
Monthly Fee: R500 – cancel at any time
(30 day cancelation period)
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