Competitor insights are one of the smartest tools you can use to build your strategy if you want to stay ahead. Going beyond surface-level observations gives you a clear picture of what’s working for the competition—and what isn’t. With an idea of competing operations and tactics, you can find ways to improve your own.
In this post, you can find powerful competitor insights to help transform your marketing, plus some tips for getting the analysis started.
What Are Competitor Insights?
Competitor insights are the valuable information you can choose to gather about other businesses in your industry.
They show how competitors operate, what drives their success, and where they fall short.
These insights provide a window into their strategies, including marketing campaigns, customer engagement tactics, pricing models, and brand positioning.
Before diving into competitor analysis, it’s important to identify who your key competitors are.
- Direct Competitors: Businesses offering similar products or services to the same target audience.
- Indirect Competitors: Companies that don’t sell the same thing but meet similar customer needs.
- Emerging Competitors: New businesses or startups making waves in your industry.
To identify competitors, search for your products or services online and see who ranks high. Use tools like Google Maps SemRush’s Market Explorer tool to find local competitors.
Also, pay attention to ads, reviews, and social posts to uncover businesses targeting the same audience. For example, competitor insights might reveal missed audience segments, overlooked keywords, or untapped opportunities in service offerings.
How to Gather the Right Insights
Collecting competitor insights doesn’t have to be overwhelming. Start with straightforward methods that provide valuable information:
- Look at their social media profiles to see the type of content they post, how they interact with their audience, and what topics perform well.
- Visit their website and blog to review their tone, messaging, and content strategy.
- Read customer reviews to learn what customers love and what they wish was better.
- Use tools like SEMrush, Ahrefs, or SpyFu to analyze their search rankings, keywords, and backlink strategies.
The key to gathering useful competitor insights is consistency. Regularly review this information to spot changes in their strategies and stay ahead of trends in your industry.
1. Identify Their Strengths and Weaknesses
Every business has areas where it excels and areas where it struggles. Identifying your competitors’ strengths can inspire improvements in your own strategy, while recognizing their weaknesses opens opportunities to stand out. A well-rounded assessment gives you a clear picture of where you can gain an advantage.
To uncover these insights:
- Check reviews and testimonials: Look for patterns in customer feedback to learn what competitors are praised for and where they fall short.
- Evaluate their content and branding: See if their messaging aligns with customer needs or if there are gaps you can address.
- Compare offerings side-by-side: Create a simple comparison of products, services, or features to see where your business has the edge.
For example, if a competitor has great product quality but struggles with long shipping times, you can emphasize your faster delivery in your marketing. Spotting these strengths and weaknesses helps you fine-tune your positioning and meet customer needs more effectively.
Keyword Gap tool in SemRush offering content opportunity insights
2. Explore Content and Strategies
Competitors’ content and marketing approaches can reveal valuable opportunities to refine your own. Look closely at the type of content they create, their tone, and how they reach their audience.
Key areas to focus on:
- Blog posts and articles: Identify topics they prioritize and any gaps you could fill with your own content.
- Social media campaigns: See what types of posts generate engagement, like videos, stories, or infographics.
- Ad campaigns: Analyze the platforms they advertise on and their key messages.
Tools like BuzzSumo or SEMrush can help you pinpoint high-performing competitor content. Use the data to craft content that better addresses your audience’s needs and creates a stronger connection with potential customers.
3. Look at Their Engagement
How competitors engage with their audience provides valuable clues about what works—and what doesn’t. Monitoring their interactions can help you build a more engaging strategy for your own business.
Pay attention to:
- Social media interactions: Look at response times, tone, and the types of questions or comments they receive.
- Review responses: See how they handle both positive and negative feedback.
- Email campaigns: Note the frequency and tone of their emails, as well as any customer reactions you can observe.
If you notice a competitor actively responding to customer concerns on social media and earning praise for their attentiveness, consider ways to enhance your own customer communication.
Engaged audiences are more likely to trust and support a brand, attracting even more engagement.
Example of an engaged audience on a brand’s social media post
4. Compare Products, Services, Pricing
A competitor’s product offerings and pricing strategies reveal important opportunities for differentiation. Knowing how their products stack up against yours can help you refine your messaging or create offerings that better meet customer expectations.
Steps to take:
- Analyze product features: List the unique benefits competitors emphasize and identify gaps your products could fill.
- Review pricing models: Compare how their prices reflect value and whether they offer tiered options or discounts.
- Highlight your unique selling points: Focus on benefits your competitors can’t match, such as better quality, added convenience, or standout service.
For example, if a competitor markets premium pricing but offers limited value-adds, this creates a chance for you to promote more inclusive or flexible options.
5. Analyze Their SEO and Paid Ads
Competitor strategies for SEO and paid ads can reveal how they attract and convert customers online. Analyzing their tactics gives you insight into what works in your market. Areas to research for competitor insights to add to your strategy:
- Keyword rankings: Use tools like Ahrefs or SEMrush to see which keywords competitors rank for and whether they target short- or long-tail phrases.
- Backlinks: Using your handy tools, look at where their backlinks come from to find potential partnership or guest posting opportunities for your site.
- Ad placements and messaging: Review their ad copy and placement to understand what resonates with their audience.
If a competitor consistently ranks for high-value keywords, consider optimizing your own content for related terms to capture more search traffic.
Backlink Gap analysis in SemRush comparing domains linking to two brand sites and offering ideas
6. Monitor Competitor Reputation and Reviews
A business’s reputation speaks volumes about its strengths and weaknesses. Customer reviews, testimonials, and social mentions reveal valuable competitor insights into what they do well and where they struggle in their own strategy.
Steps to take:
- Read reviews on multiple platforms: Look for trends in customer sentiment across Google, Yelp, and industry-specific review sites.
- Analyze recurring issues: Spot patterns in negative reviews, such as complaints about quality, delays, or poor communication.
- Track social media mentions: Use monitoring tools to see how customers talk about competitors online.
If reviews show dissatisfaction with a competitor’s customer service, make it a priority to promote your responsiveness and dedication to support. A strong reputation builds trust and loyalty with current and potential customers.
7. Stay Updated on Innovations and Industry Trends
Competitors’ new campaigns, product launches, or partnerships often hint at emerging trends. Keeping track of their innovations ensures you’re prepared to adapt and remain competitive.
Tips for staying informed:
- Track product updates: Watch for new features or releases that target emerging needs.
- Follow industry news: Stay connected to updates in your market to understand what’s shaping customer preferences.
- Anticipate shifts: Look for opportunities to introduce unique solutions before competitors catch on.
For example, if a competitor introduces a service addressing sustainability trends, consider how your business can appeal to environmentally conscious customers with your own offerings.
Tips for Ongoing Competitor Analysis
Create a System
Keep competitor insights and data organized in a spreadsheet or dashboard for the most organized strategy and plan. Include key metrics like pricing changes, product updates, social media performance, and new campaigns.
This way, it’s a lot easier to spot trends over time without getting overwhelmed by details.
Routine, Focused Reviews
Set a specific time each month or quarter to analyze your competitors. During these sessions, focus on one or two key areas, like marketing strategies or customer feedback, to avoid spreading yourself too thin.
Involve Your Team
Your team members, especially those in customer service or sales, often hear direct feedback about competitors. Encourage them to share insights during team meetings or through a shared document. This can uncover valuable firsthand observations.
Work Smarter
Automate data collection where possible. Tools like SEMrush, Google Alerts, or BuzzSumo can track competitors’ SEO performance, social media mentions, or trending content.
Automation ensures you don’t miss important updates without requiring constant manual effort.
Act, Don’t Collect
Don’t just collect data—use it to make decisions. For example, if you notice a competitor attracting attention with a new service, consider how you can offer something similar but better tailored to your audience.
Always look for actionable opportunities to refine your own strategy. Ongoing competitor analysis helps you stay proactive and nimble.
Conclusion
Competitor insights go beyond observation—they’re about strategy and action. Each step you take to analyze competitors’ strengths, weaknesses, and strategies helps you refine your approach and better connect with your audience.
Ready to take your strategy to the next level? Wolfpack Advising can help you turn competitor insights into real results—contact our team today to get started.
