When was the last time you did a competitor analysis? (Have you ever done a competitor analysis?)
Maybe, you did it when you first started your business. Maybe, it’s conducted as part of your annual review and planning process. Or perhaps you always keep your finger on the pulse of what your competitors are up to.
If you haven’t completed a competitor analysis in the past two years we highly recommend you do one stat! The marketplace has changed significantly over the past two years and it’s beneficial to be in the loop with who your competitors are, what their product offerings are, their pricing structure, along with their marketing and operations.
When you compare your business to your competitors you will find plenty of things that you do better than them- and that’s fantastic! The real value and what you also want to look for is- what are they doing better than you? Being able to learn from your competitors (not just gloat about how you’re superior to them) will help you elevate your business.
Competition is a great way to improve!
Competitor Analysis is one of the services MAP Solutions Group offers, let us know how we can help with yours.