Things to do that may assist your competitive advantage

by Octopus Intelligence Octopus Competitive Intelligence

Things to do that may assist your competitive advantage

This article lists 30 bullet points on things to do that may assist your competitive advantage. Designed to be a quick and dirty list to help you think about gaining a substantial competitive advantage.

Analyse competitor data and identify patterns in customer behaviour
Develop a scoring system for ranking competitors based on their performance
Create an online platform where companies can compare their products or services with those of competitors
Analyse competitor pricing strategies over time to track changes in the market
Utilise social media analytics tools to monitor competitor conversations and activities
Conduct surveys of customers who have used both your product/service and that of your competitors
Investigate how well-known industry influencers are talking about each competitive brand or product
Use predictive analytics models to forecast future trends in the competitive landscape
Map out current business ecosystems, including key players, partnerships, investments, etc., related to competition
Track and analyse changes in competitive pricing, product features, and marketing campaigns
Monitor social media conversations and customer feedback to identify trends in the competitive landscape
Analyse competitors’ online presence, including website structure, content, search engine optimisation (SEO), etc.
Research industry-specific news and developments related to competition
Stay up-to-date on changes in regulations that may affect the competitive landscape
Track competitive market trends
Develop and execute strategies to increase market share and brand awareness
Analyse competitor’s strengths and weaknesses
Create competitive analysis reports
Identify opportunities for growth in the competitive landscape
Track customer feedback and develop strategies to address customer needs
Utilise digital marketing channels to reach target audiences
Analyse consumer behaviour data to inform marketing decisions
Develop loyalty programs to retain customers
Develop promotional campaigns to increase sales
Identify new markets for product expansion
Analyse market trends and capitalise on opportunities
Create targeted campaigns to reach specific customer segments
Utilise insights to inform marketing decisions
Develop innovative approaches to increase market share
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