What is a Competitive Analysis in Digital Marketing?
Competitive analysis in digital marketing is a process that researches competitors to identify strengths and weaknesses. It examines the strategies companies use for marketing, pricing, pro whatsapp russian number duct development, and distribution to gain insights.
It will help you to keep on top of trends in your sector and identify digital strategies that will drive brand awareness, customer engagement and, most importantly, revenue.
ChatGPT Prompts for your Digital Marketing
Download Free
Why you should do a Competitive Analysis in Digital Marketing?
What is the purpose of competitive analysis? Well, the scope of your competitive analysis can vary depending on what you want to discover. What you analyze can be as broad or as focused as you like.
For example, you may want to focus on optimizing your website. For this, you would look at competitors’ websites to look at their content, UX, and lead generation strategies. What you learn can then help you to apply new CRO strategies.
There are many benefits to conducting an analysis which include:
Identify barriers and opportunities in a market
Identify your value proposition and how it differs from competitors