How to do an effective competition analysis? Practical guide with examples

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Competitor analysis is one of the most valuable resources a business can have. This type of study can be carried out after creating a company or when launching a new product or service. For millions of businesses, this analysis is based on the constant observation of the profiles of their competition on social networks . For others, it is a more detailed study from different data sources. In either case, it is important to keep in mind that knowing in depth what businesses similar to yours do can help you position your product and make your content a magnet for consumers . VIDEO | How to stand out from the competition | Hotmart Tips 262 In addition, the analysis of the competition will allow you to stand out in the market, generating great profits and progressively scaling your business. To help you focus on your potential sales , and help customers recognize you and choose your brand, we offer you a practical guide on how to do an effective competitive analysis.

Do not miss it! Post index Menu Index What do we call competition? Types of competitors What is competitive analysis and what is it for? How to do a competitor analysis? Step by Step Examples of competitive analysis Common mistakes when analyzing the competition Start analyzing your competition today Back to index What do we call competition? Before getting Bleni Baza e të Dhënave të E-së dhe ndërtoni shpejt listën e postës elektronike into the matter, you need to know what exactly the competition is. This term is based on one or more businesses that create and sell similar products in the same market. Small and medium-sized businesses, mainly, carry out studies of their competition to find out who their direct competitors are. Types of competitors One of the frequent concerns throughout the career, whether of consolidated entrepreneurs or freelancers , is to stand out from the competition.

If this is your case, don't worry! What you should know is that if you analyze your competitors as part of your work routine, you will be able to understand their behavior. Therefore, you will know how to predict their movements. This will help you focus your strategy and develop appropriate techniques to operate your internal and external business processes in a more timely and intelligent manner. Next, we are going to show you the types of competition that exist: Image of three tokens on a podium dividing the first three places, representing the competition that has just ended. direct competition Direct competition is made up of those companies or people that offer products or services similar to yours. Therefore, we recommend that you always pay attention to their movements. Thus, you will be able to keep acting competitively in your specific market niche and know what its strengths and weaknesses are.