7 Easy Steps on How to Perform a Competitor Analysis

  What Is A Competitor Analysis?  It’s exactly what it sounds like, which you’re probably not surprised by. You’re looking at everything your competitor is doing  (at least, the stuff you can see, this isn’t corporate espionage)… …and considering how your business compares.  Why Bother Doing A Competitor Analysis?  There are a lot of good reasons to perform an analysis of your competitors and it’s a common step in creating a new business or starting a  marketing strategy . But we feel there’s a bit of confusion around what the purpose of a competitor analysis is and how to complete one. You can look into any aspect of the business that you want, and you can use a competitor analysis for a lot of planning purposes. But some of the most important reasons to perform a competitor analysis are:  You can identify the things your competitors are doing right. This will give you an idea of what you should be doing too.  You can identify the things your com...

Jumpstart your marketing campaign  with these small business marketing ideas! 1. Make a behind-the-scenes video People value authenticity. One study found that almost 90% of people say authenticity is a major factor when deciding which brands they support and favor. 2. Retarget your website visitors and social media engagement In the marketing world, there’s what’s called a rule of 7. The rule of 7 says  someone has to see a piece of content 7 times before they’ll be persuaded to take action.  3. Host a social media giveaway Giveaways are an easy jumpstart to increase almost any social media metric. Including more likes, more followers, more comments, etc.  The most common giveaway to host is an  Instagram giveaway . You give away an item and make the requirements to win to: follow your page, like the post about the giveaway, and tag a friend in the comments. 4. Send weekly email newsletters Most of you are probably familiar with the next one on our list of smal...