How to Run a Competitor Analysis [Guide]
Competitor analysis is the process of identifying competitors in your industry and researching their different marketing strategies.
HubSpot has published a new guide ‘‘ explaining benefits of competitor analysis and how to do it.
Megan Conley says, “The first and most obvious benefit of a competitor analysis is understanding your position in the market. You can understand where your peers are excelling whether or not you are keeping up.
If the honest answer is that you’re not — that’s okay! Now you know. After the analysis, you can begin an open conversation about how to improve.
1. You can grow your business.
Marketers and competitive research professionals agree that staying on top of your competitor leads to more success. HubSpot research found 90% of marketers report positive impacts on their business from using competitive research as part of their strategy.”
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