7 Easy Steps on How to Perform a Competitor Analysis

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Do you want to stay ahead of your competition? You should be doing regular competitor analysis for your business! In this video, we will be walking you through the process of how we conduct competitor analyses.
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Are you tired of reacting to changes in the market or customer needs instead of being ahead of the curve?
You can avoid that by doing regular competitor analysis. Let us show you how.
If you haven’t completed a competitor analysis before, you’re in for a treat!
We're going to walk you through the process, including what we ask ourselves, and using a fake business so you can see how to apply it.
Let’s get started!
Video Outline
Intro (0:00)
What Is A Competitor Analysis (0:37)
Why Bother Doing A Competitor Analysis (0:51)
How Often You Should Perform A Competitor (1:56)
How To Perform A Competitor Analysis (2:12)
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➡ We're LYFE Marketing, a full-time digital marketing agency for small businesses. We help people grow online through various marketing channels. We help you de-code if advertising is the right fit for your growth trajectory, or see if organic growth is more of your speed. Regardless, our goal is to build a massive portfolio of success stories. So one day, we can look back and say that we made a difference in the world. This channel will provide you with good tips and suggestions for a large range of marketing topics. And we're not holding back. But if you want a tailored strategy, then don't hesitate to contact us on our website.

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Опубликовано:

27 июл 2024

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Комментарии : 72

@classyirish9877 Год назад

I am currently an intern on an Advertising Agency and I was tasked to do a Competitor analysis. I am still a newbie and my supervisor didn't teach me... I haven't encountered making this because I was more focused on creating Sales Reports. Thanks for this video, finally I won't get lost!

@LYFEMarketingAtlanta Год назад

No problem!! Best of luck!

@devendasmusic Год назад

You and me both haha

@PocketProjects Год назад

This is excellent advice and even though as a business we already practice some of this it's so easy to get complacent and take your eye off the ball. I totally agree that this should be done a minimum of every 6months. Thank you team LYFE!

@LYFEMarketingAtlanta Год назад

Absolutely!!

@georgewilley9609 3 месяца назад

Thanks for the content Morgan.. I was surprised to see you actually walked us through the process instead of just telling the audience how your company/applications can do it for you. Really great

@LYFEMarketingAtlanta 3 месяца назад

So glad you found it helpful! All of the videos on our channel are meant to be educational and as helpful as possible :)

@vintageretromanmusic_official 2 года назад

Great content! I enjoyed this video greatly and am looking forward to the others to sharpen my digital skills. I have been in the field around 5 years now and I love it. I just subscribed. God bless 😃

@LYFEMarketingAtlanta 2 года назад

Awesome! Thanks for the sub!!

@jondarling 2 года назад

Great video! A concise checklist of things to research even without semrush, sistrix etc. awesome!

@LYFEMarketingAtlanta 2 года назад

Glad it was helpful!

@ataberdi2064 Год назад

So underrated video. Detailed walkthrough. Thanks 🎉

@LYFEMarketingAtlanta Год назад

Glad you enjoyed it!

@ceydanursudurag4667 2 года назад

Great article! Personally I especially use WASK's competitor analysis tool and I highly recommend it.Thank you for sharing friend!

@LYFEMarketingAtlanta 2 года назад

Awesome, thank you!

@NoYouTubeBrittany 2 года назад

This was great! Thank you so much!

@LYFEMarketingAtlanta 2 года назад

You're welcome!

@Wooooooooot Месяц назад

Current intern at a financial firm and tasked with this and I’m a complete newbie thank you!

@LYFEMarketingAtlanta Месяц назад

Congrats on the internship! Glad the video was helpful :)

@MrObeytok 8 месяцев назад

This is amazing, thank you!!

@LYFEMarketingAtlanta 8 месяцев назад

Glad you found it helpful! Be sure to subscribe if you haven't already!

@mightyTYP 4 месяца назад

Great video! Thank you so much!

@LYFEMarketingAtlanta 4 месяца назад

Glad it was helpful!

@harshmanik8226 2 года назад

Thanks, it helped! 🙂

@LYFEMarketingAtlanta 2 года назад

Glad it helped!

@shakirahtahir399 10 месяцев назад

Impressive content! Very practical and easy to follow

@LYFEMarketingAtlanta 10 месяцев назад

So glad to hear! Be sure to subscribe if you haven't already!

@AbdelrhmanAbozeid 2 месяца назад

Amazing ⭐

@shumtabrez 5 месяцев назад

You just nailed it. I love it.

@LYFEMarketingAtlanta 5 месяцев назад

Glad to hear it! Be sure to subscribe if you haven't already!

@kallanaBr Год назад

Thank you for your content. How do you find your competitor's revenue streams? To give you a context, I am doing a competitor analysis for SaaS companies. The terms and conditions are not necessarily on the website and we usually have to pay for the service ($$$$), or at least have a demo call prior to gaining access to the product.

@LYFEMarketingAtlanta Год назад

You may be able to access public tax records or revenue information depending on your location. I would start with a Google search of "public business tax information [your location]" to see what you can find. Hope that helps!

@jordang8317 Год назад

Next steps to try to get information when tax records are NOT public? Also how do we get market share data for a relatively small service sector?

@orls9068 Год назад

Thank you so much, very helpful, do you have a google analytics competitive analysis, I don't know how that works would like to learn about that side of analysis too

@LYFEMarketingAtlanta Год назад

This is noted for a future video. Thanks!

@LYFEMarketingAtlanta Год назад

Hi there! Yes we do: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-9PRUI54z9GY.html

@divyavijayakumar5317 2 года назад

Very good content!

@LYFEMarketingAtlanta 2 года назад

Glad you think so!

@ishwarinakhwa2502 5 месяцев назад

Great way of explaination❤

@LYFEMarketingAtlanta 5 месяцев назад

Glad you liked it, thanks for watching!

@Chaitanya6920 2 года назад

Thank you so much I really got helpful with this

@LYFEMarketingAtlanta 2 года назад

You're very welcome!

@Chaitanya6920 2 года назад

which country do you belong to?

@LYFEMarketingAtlanta 2 года назад

The United States. We are based in Atlanta, Georgia.

@Chaitanya6920 Год назад

It got helpful again thank you

@candlepower7798 Год назад

really helpful video

@LYFEMarketingAtlanta Год назад

Great to hear!

@user-yn2yu5qy9u 4 месяца назад

Thank you for your video. Your Engish is so natural. Would you recommend to replicate what your top - competitors do ?

@LYFEMarketingAtlanta 4 месяца назад

Thank you! And yes follow what your top competitors are doing but do it better!

@sohamkushe4780 Год назад

great!

@LYFEMarketingAtlanta Год назад

Thank you! Be sure to subscribe if you haven't already!

@vidhyadharsansare7278 27 дней назад

Dear Morgan I'm your subscriber from India, I love your video! My question is I'm learning blogging now days! 1) How to find out or analysis my competitor blog like 1) Which writing tone he use 2) which types of voices (grammarly) he use 3) How to cross check grammar aspect of his blogg. 4) how many tenses he use in his blogg? 5) which grad use writing time? 6) How to find of his artists LSI keyboard, 7)his NLP keyboard styles? Overall his blogg analysis so we can use same think in our blogg Don't tell me Headline, words count, becoz this think show us "Quick SEO" Or other Google Chrome extension free of cost? But basic structure grammerly, tone, voices, tenses, everything how to know from my competitor rankings article? Please replay on this 👆 all question? ❤Love you so much❤ 🙏Thanks,🙏

@LYFEMarketingAtlanta 26 дней назад

Hey there! That's a great question. The most surefire method to determine all of the things you're looking for is to manually study your competitor's blog and just take note. But we also have this video on how to generate 10K visitors for a brand new blog that I think will be a helpful watch for you: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-cJ00X-tM5NQ.html

@MohamedMostafa-vb7fh 3 месяца назад

Great video

@LYFEMarketingAtlanta 3 месяца назад

So glad you found it helpful!

@victorodohson5952 Год назад

How can I apply for your training. Also how can I pay for your ads services in case I want to create ads.

@LYFEMarketingAtlanta Год назад

Hello! Please contact us here: www.lyfemarketing.com/contact-us/ We look forward to hearing from you!

@abidali-pj8ko 8 месяцев назад

my assignment is Start with analysis report.. and then make strategy? how to make someone help me ?

@LYFEMarketingAtlanta 7 месяцев назад

Hey! If you need some resources on putting together a strategy we have a whole playlist dedicated to doing exactly that: ru-vid.com/group/PL-DAplYj3NS_PfY70mYxYS_FMLpht_TYx&si=1lxFnMeoLOhBC3NS Hope this helps!

@TheMarketingMan4U Месяц назад

If I am doing competitor analysis then my competitors are also doing. They will see my moves and I will too. How will it help us ? I will offer what they aren't & they will too. There might be the limit of doing competitor analysis.

@LYFEMarketingAtlanta Месяц назад

Hey there, interesting thought! The only thing I would add is that not all of your competitors are guaranteed to be doing one of these. You'd be surprised at how many businesses neglect real marketing efforts! But yes, we should always be on the lookout for novel marketing and business opportunities :)

@TheMarketingMan4U Месяц назад

@@LYFEMarketingAtlanta Thanks! Let's explore more. If they are neglecting then why are they in the business and surviving? One more bitter question...Why is ur channel not growing despite u helping clients to grow digitally ?

@NaziaKhan-kh7yo 11 месяцев назад

Great

@LYFEMarketingAtlanta 11 месяцев назад

Thank you!

@abidhasan1645 2 месяца назад

Really Awesome! Any one can succeed in business if following great advise>> I love this one. I want as same as Niche selection video for e-commerce & Amazon market place, Please, Please >>

@LYFEMarketingAtlanta 2 месяца назад

Glad to hear it was helpful!

@abidhasan1645 2 месяца назад

@@LYFEMarketingAtlanta If possible Please upload the Niche selection video for e-commerce>>>