3 times you should ALWAYS conduct a competitor analysis
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When it comes to succeeding as a business, laying the foundations is just as important as creating flashy campaigns. In fact, it’s these foundations that give you the insight and inspiration to ensure that your campaigns are effective enough to beat your competitors to the top - this is where your competitor analysis comes in.
Competitor analysis is the process of researching, categorising, and evaluating the strengths and weaknesses of brands that you deem to be a potential threat to your business.
Problem is, within the marketing industry, there’s a lot of crossed wires about exactly when you need to conduct a competitor analysis; monthly, quarterly, yearly? One thing is for sure, a competitor analysis is not just a one-time affair - it needs to be repeated throughout the lifetime of your business so that you can keep your competitive advantage.
In this video, we're going to talk about competitor analysis and 3 times when you should always conduct one.
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