What is competitor analysis? In a nutshell, if is when you identify and evaluate your competitors, including both of their strengths and weaknesses, as well as how they currently compare to your brand and business.
With the information you glean from the analysis, it can be used to improve your company’s efforts, allowing you to take the advantage over your competitors. It lets you better position your products and services within a particular niche, or compete head to head with a form of messaging hat can help you play to your brand’s strengths.
Social Media Today contributor, Bob Carver, has written a post where he goes over 6 key elements of competitor analysis that can help your marketing efforts win out over the competition.