Let’s face it, a “how to do competitive analysis” article is not getting anyone leaping out of their seat with excitement is it?
There may be some people out there who wake up in the morning absolutely pumped to research the life out of their competitors.
But for most of us it feels like a task reserved for the long finger or the “someday” list.
Here’s the thing though… For anyone who wants to build a successful brand, it’s a non-negotiable and something you simply must do.
Skip this step and the brand you build will lack a key ingredient of any successful brand…. Relevancy.
But it’s not all bad.
When you have a framework in place and you know the steps to follow, painting a picture of your market landscape becomes simple.
If you’re still not motivated to roll up your sleeves then know this… There is gold to be found in an effective competitive analysis.
When you have a clear picture of the choices your audience has and how they feel about those choices, patterns begin to appear.
These patterns represent gaps which are the birthplace of extraordinary differentiators and iconic brands.