Competitor Analysis
Competitor analysis, or benchmark analysis, is essential for every company or organisation that wants to build an effective communication and marketing strategy. Analysing competitors allows you to identify market opportunities and risks, better understand your target by observing interactions with competitors, and stand out in the competitive landscape. By studying the strengths and weaknesses of competitors, we develop innovative and differentiated strategies. With competitor analysis, you can also save time and resources, learning from the mistakes of others and best practices, what works best and why.
Identification and analysis of competitors
The first step in an effective competitor analysis is to identify competitors. Competitors are considered all those who operate in the same market segment and meet the same needs of the customer’s product or service. There are two main categories of competitors: direct, which offers a very similar product or service, and indirect, which operates in the same market but with alternative offers. To carry out an impactful competitor analysis, it is essential to examine a broad panorama of online and offline data. This includes the study of communication strategies, marketing, engagement and loyalty, as well as the public’s response and satisfaction level. A complete competitor analysis integrates traditional methodologies with digital data from search engines, websites, e-commerce, social networks and other digital touchpoints.
Cultur-e’ s Competitor Analysis
At Cultur-e, competitor analysis is conducted through a data-driven model that exploits the potential of big data generated online and integrates it with offline tools to identify best practices, even at an international level. The activity focuses on three main dimensions: marketing strategy, identity and communication strategy, and digital strategy. Using a SWOT analysis, each dimension is analysed to identify strengths and weaknesses. The evidence and best practices that have emerged allow us to better orient the client’s marketing, commercial and communication strategies, creating original, innovative and customer-oriented solutions.