Let’s face it, most businesses will have competitors, and if they didn’t business would be easy. Whether they be direct or indirect it is important to keep an eye on competitors operations, product/service offerings and their marketing activities. If these things are not periodically looked at competitors may gain an advantage against your company which could result in a loss of business/customers.
What many companies fail to realise is that if something is working now, a few months or a year down the line things may change (competitors may change) and what was once working may not be so successful some time down the line. In order to keep up with changing times within the business environment you must keep a constant eye on your competitors and analyse what they are doing.
Performing a competitor analysis should be a standard procedure within any general marketing campaign and should be performed periodically to ensure that your competitors do not gain competetive advantage. For more information on this or to find out more about our competitor analysis services please contact us or visit www.thewebtaylor.co.uk