Competitor analysis
What is competitor analysis?
Competitor analysis is the research into the companies your customers compare you with: what they offer, how they price and position it, who they target, where they market and what their customers praise and complain about.
Public conversations are a rich source: threads asking for alternatives to a competitor, reviews and comparison posts.
Why competitor analysis matters
Knowing competitors’ weaknesses from their own customers’ words tells you what to emphasise, what to build and who might switch.
Related marketing terms
Share of voice is your brand’s portion of the conversation in a market: your mentions compared with competitors’, as a percentage.
Positioning defines what a product is, who it is for and why it is the best choice for them compared with the alternatives they consider.
Social listening is tracking public conversations about your brand, competitors and market, then learning from and acting on what people say.
Voice of customer is gathering what customers say they need and feel, in their own words, from interviews, surveys, reviews and conversations.