How can you use competitor analysis to find untapped marketing channels?

When identifying your competitors, it is important to differentiate between real and perceived ones. How?to identify the competitor?. 1. Run a Google search. 2. Use tools like Google Trends and SimilarWeb. 3. Look at review sites in your industry, such as Trustpilot, G2, and Capterra for software and business services. 4. Review the list of presenters and companies with booths at your industry's conferences. 5.Ask your clients who else they considered. Categorize them to primary (direct), secondary (indirect: high-end or low-end versions), tertiary (market to the same audience, but they have other products).

A competitor analysis can be a powerful tool for identifying untapped marketing channels and new product opportunities. 1. Conduct a SWOT Analysis 2. Evaluate Marketing Channels ? Current Channels ? Untapped Channels 3. Analyze Customer Feedback and Reviews ? Product Reviews ? Service Feedback 4. Benchmark Product Features ? Feature Comparison ? Innovation Opportunities 5. Monitor Competitor Campaigns and Promotions ? Advertising Strategies ? Promotional Offers 6. Assess Market Positioning ? Positioning Statements (POP & POD) 7. Study Industry Trends and Innovations ? Trend Analysis ? Emerging Opportunities 8. Leverage Competitive Intelligence Tools ? Tools and Platforms ? Social Listening 9. Collaborate and Network at Industry Events

I think competitor analysis can reveal untapped marketing channels by exposing gaps in their strategy. For instance, if all your competitors prioritize Facebook ads, exploring platforms like TikTok or podcast sponsorships could offer significant reach to an engaged audience. Additionally, studying competitor customer journeys can highlight neglected touchpoints, like offline events or niche online communities, that could become valuable engagement opportunities for your brand.

Do you need to be there all the time where your competitors are? -No Do you need to know where your competitors are? - Yes Doing marketing is like playing chess :)

Analyze competitors' marketing channels by assessing their online presence, social media strategies, email marketing campaigns, content quality, paid advertising efforts, partnerships, event participation, and customer feedback.

Gathering feedback from your current customers leads to understanding their preferences and behaviours. Look for channels they frequent or wish to see your brand on. This can provide insights that may not be evident from competitor analysis alone.

Assess competitors' marketing performance by analyzing key metrics such as website traffic, social media engagement, email open rates, and conversion rates. Identify gaps by comparing your strengths and weaknesses against theirs, looking for opportunities to differentiate and improve your strategy.

Identify untapped marketing channels by conducting customer surveys, analyzing industry trends, experimenting with emerging platforms, exploring niche communities, and staying updated on new technologies. Test and measure the effectiveness of different channels to discover untapped opportunities for reaching your target audience.

Analyzing and understanding the big picture is important, but we are not a photo, we are a video and with this understanding, understanding the next steps, it becomes enriching to learn from other players in the market, other industries. This creates an opportunity to innovate within our segment.

Analysing competitors' marketing channels allows you to identify gaps or opportunities in the market that they may have overlooked. You can leverage this information to tailor your own marketing strategies and fill unmet needs in the market. It can also help to Inspire innovation and captilise on underpriced attention opportunities. Lastly you can gain greater insight into your competitors target Audience, this is especially useful when coupled with using platforms Ads Transparency tools to review your competitors creative and messaging.

Stay Updated: Industries and consumer behaviours evolve. Regularly revisit your competitor analysis and market research to stay informed about new developments and emerging channels.

You do not need to chase your competitors; instead, focus on building your own path. Use the information from the research to generate a better strategy for your brand. Do not lose authenticity.