What came first; the egg or the chicken? This is a lifelong debate. What came first: your business idea or the analysis of the competition? At this point, how do we make sure the discussion will not be eternal? We are going to tell you how to do that next.
There are innovative ideas and there are improvements to what already exists, but regardless of the case, there is always a practice that leads to success and creates a difference between winning and losing brands. We are talking specifically about the analysis of your competition because as they say out there, to fight you require two people and rest assured that your brand will not be the only one that offers your products or service. Although, your brand could behave differently and acquire its own identity and style.
This is when the term ‘benchmarking’ appears. Which is understood as the study of the behavior of both the market and the brand’s target audience. Here they analyze the brand’s social networks, website, content strategies, services, and products that are developed. They also analyze other very relevant aspects to transform data into work tactics.
