8 Steps to Conducting a Competitive Brand Analysis
The first time my creative director asked me to create a competitive brand analysis, it was for a huge and well-known sports organization. I was honestly terrified because I was pretty new to the marketing scene. What was I supposed to do? Just check out competitors and explain how they’re different? And how do I turn that into a presentation? At the time, I was a new UI/UX Designer who’d built tons of websites, but I had always leaned on competitor sites and creative briefs to shape my ideas for projects.
Luckily, I googled my way through the challenge and ended up delivering a kick-ass competitive analysis. Since then, it’s become a crucial part of my design process—and not just as a designer but as a creative leader too. Skipping a competitive analysis is like entering a race without knowing the course or your opponents’ strategies—you’re just winging it.
Whether you’re in design or marketing, staying ahead of the competition is key to keeping your brand fresh and relevant. Conducting a competitive brand analysis is a crucial part of that process—it helps you understand what other brands are doing, so you can find ways to stand out and get creative with your strategies.
Let’s walk through the steps for conducting a competitive brand analysis that will help elevate your game and make your brand shine.
1.?Identify Your Competitors
Before diving in, it’s important to know who you’re up against. Identify your direct competitors (those offering similar products or services) and indirect competitors (those targeting your audience but with different offerings). Tools like Google, SEMRush, and Ahrefs can help you pinpoint who’s performing well in your space. Make sure to look at both established brands and new ones gaining traction.
2.?Analyze Their Branding
Once you know your competitors, take a closer look at how they’re branding themselves. Here are the key elements you want to pay attention to:?
Look for consistency across their website, social media, and ads. Consistent branding builds recognition, which can be a key takeaway for your own efforts.
3.?Evaluate Their Online Presence
Your competitors’ digital footprint tells a story. Visit their websites and ask yourself the following questions:
But looking at their websites isn’t enough. Be sure to check their social media and answer these qustions:
4.?Study Their Content Strategy
Content marketing is a window into how a brand connects with its audience. Here’s what you want to look out for:
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This is a great way to spot gaps where your brand can provide more value or a unique perspective.
5.?Dig Into Their SEO Strategy
This is an easy one to ignore but it’s so incredibly helpful. SEO is often where the magic happens in terms of visibility. As I mentioned in our intro, using tools like SEMRush or Ahrefs to get insights into competitors’ SEO performance can be a gold mine. Here are the top 3 elements you want to look at:
This will help you identify areas where your brand can boost its search rankings and visibility.
6.?Examine Their Marketing and Advertising
Marketing and advertising strategies give you a sneak peek into how your competitors are getting attention and turning it into sales. As you do your research, ask yourself these questions:
Understanding their advertising approach can help you refine your own strategy to attract attention and drive results.
7.?Identify Strengths and Weaknesses
Once you’ve gathered all this data, you’ll want to summarize your findings in a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) for each competitor. This process will highlight the areas where you can outperform your competition.
8.?Benchmark Your Brand
Now that you’ve analyzed your competitors, it’s time to see how your brand stacks up. Compare your branding, content, online presence, and marketing efforts against theirs. Are there areas where you can improve? Where does your brand shine, and how can you keep pushing the envelope?
Putting Your Insights to Work
A competitive brand analysis doesn’t have to be complicated! It’s all about observing what’s out there and using that insight to refine and improve your brand. The goal is to learn from your competitors and apply that knowledge to create a stronger, more unique presence for your own brand. Whether you’re in design, marketing, or both, staying on top of the competition is key to growing and thriving in a crowded marketplace. Now go and kick some ass! I believe in you.
Solo Mom, Founder of Loonar, Multidisciplinary Designer, Digital Marketing Strategist, and Entrepreneur
5 个月I hope this article makes you feel a bit more confident next time you create a competitive analysis!