Staying ahead of the competition is vital for business growth, but it’s not an easy task. Depending on the market or industry, you could be competing in a complicated space or facing large corporations with significant budgets. In this post, we will learn you how to identify the exact competitors and channels that you should focus on to increase your market share in just four simple steps.
Start by Market Explorer to evaluate the type of market you’re competing in. The Growth Quadrant will help you identify the players making gains or losing traction, from established players to disruptive game-changers shaping the future of the market. You can also track your competitors’ growth using the Growth Path feature.
To benchmark your strategy against your top competitors, dive deeper into their best-performing channels and traffic-generating strategies. You’ll discover which platforms your key rivals are using and how much traffic they’re getting from each network.
Finally, use the Audience Intelligence Center to analyze your audience and identify relevant audiences, consumer segmentation, and persona development. With these four simple steps, you can gain a clear understanding of your market and develop a strategy to grow your business.
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