Competitor Analysis

Competitor analysis is the process of tracking your competitors and analyzing their performance. It forms an essential part of formulating any business strategy. It helps you determine what you are up against, for a successful and competition. 24ieye provides access to in-depth competitor analysis in terms of media and brand monitoring on all industry sectors, business structure, marketing strategies, and industry strengths as well as weaknesses. This helps your business to work along the right path to eliminate competition involved.

24ieye Competitor Analysis

There are various mediums of analysing the same which may range from search engines, social networks or customers to media monitoring tools. Firstly, what does this analysis help in you in your business?

  • It allows you to make apt and informed decisions on how to develop and market your product better.
  • Provides useful information essential to plan future marketing strategies
  • Identify market opportunities that will help you increase market share

To enjoy all the benefits, you must partner with 24ieye.

As a brand monitoring company, we will focus on monitoring feedback regarding your products and services, so that you can work to provide better services/products and earn customer satisfaction.

24ieye Analyse,Monitor & Report

Now the question arises, how do we perform a Competitive Analysis?

  • The first step is to identify your competitors in brand and the social media they are active on. A benchmark can be set from such identification and further evaluation. Look for specific industries that you function in to figure out your competitors.
  • The second step is to gather data. Look into your competitor’s data via their posts and updates through social networking media; preferably Facebook, Instagram or Twitter.
  • Then comes analysing competitors’ activity. Gather information about their figures, numbers, last time of a post, response to comments etc.
  • The most important step comes in next – Analysing the data obtained. We at 24ieye give unparalleled services in terms of Brand monitoring and Competitive analysis with the help of our dedicated personnel and resources.
  • The final step is to put the data to use. With the results obtained from the analysis, it will give you an insight into getting started on the right foot and further making any necessary adjustments or alterations to the present strategy as and when needed.

It can be rightly said that a competitive analysis would prove very much effective to get ahead in a healthy competition with your competitors.

Thinking of getting started with media monitoring? Are you Ready?

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