Competitive Analysis

Competitive Analysis

For modern businesses, robust digital initiatives are essential to success. Yet, many fail to take the lead on competitors by failing to capitalize on current trends or using technology to improve business performance.

Fortunately, we are here to step in as your digital ecosystem planner and expert. With the help of our expert strategists, you can stay one step ahead of every change, all the time.

EFFECTIVE DIGITAL STRATEGIES, ALWAYS AHEAD OF THE GAME

While seemingly simple, utilizing digital initiatives to further your business goals is anything but. Not only must businesses create unbeatable competitive advantages with modern technology—they’ll also have to keep from falling back.

Your ultimate goals may not change, but your plan frequently will.
So—how do you create a winning digital strategy? It pays to ask the following questions:

  • How has digital technology played a role within your industry?
  • Does your digital strategy provide a strong value proposition for your target audience?
  • How can digital technology set you apart from competitors?
  • Does your digital strategy improve daily business operations?

For some, the answers to these questions will be less obvious—but that is why we are here to help.

A COMPETITIVE ANALYSIS AND WHY IT MATTERS

Part of developing a high-performing digital strategy is staying on top of industry trends and consistently exceeding competitor efforts. Your competitors are constantly working to win your customers, and it’s your job to keep them.

A competitive analysis helps you understand the industry ecosystem, and how you can give yourself a leg up. Through competitive market research, we can:

  • Identify where your competitors are falling short and thriving
  • Determine what your products and services might be missing
  • Define your unique value proposition
  • Provide you with a performance benchmark

Understanding the competitive landscape is one of the most important steps to ensure long-term success.

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How We Perform a Competitive Analysis

To gain an edge above your competitors, we take the following steps:

Step 1: Determine Who Your Competitors Are and What They Do

First, we determine who your competitors are by listing businesses that satisfy the same customer needs. Then, we evaluate their value proposition and consider their market share, consumers behavior, pricing strategies, and distribution methods.

Step 2: Research Competitor Tactics

Then, we analyze your competitors’ sales process by taking a closer look at their:

  • Distribution channels
  • Physical locations (if any)
  • Partner reselling programs
  • Annual revenues
  • Customers’ reasons for not buying

We also use their sales information to determine whether you’re pricing your products and services appropriately. As such, we have to ensure you’re meeting competitive shipping costs, which directly affects cart abandonment rates.

After asking how much, we simply ask how? How are your competitors marketing their products? They might be leveraging:

  • Blogs
  • YouTube channel
  • Whitepapers
  • Visual content
  • Press releases
  • Case studies
  • Media kits
  • Buying guides
  • Online advertising campaigns

Step 3: Study Technology Stacks

Knowing what kind of technology your competitors are utilizing can put you at a significant advantage. For instance, your competitors may be taking advantage of a CRM that you previously had on your radar. If so, leveraging it can thrust your success forward.

Step 4: Review Their Social Media Platforms

When it comes to digital marketing, social media is the place to be. Thus, evaluating how your competitors are engaging with consumers online can give you an idea of what to do and what not to do.

We analyze the following platforms:

Step 5: Perform a SWOT Analysis

As we study your competitors, we use the information we obtain to create a SWOT analysis. Throughout the process, we ask:

  • Where does your competitor have an advantage over your brand?
  • What are your competitors doing that you aren’t?
  • In which areas can your competitors improve?

By doing this, we can effectively put your business in a more strategic position.

Get Ahead of Your Competitors

Running a successful business is not easy, but with the right help, you can always stay ahead of the curve. If you want to give your competitors a run for their money, contact our experts at Igloo today and book a free consultation.

SOME OF OUR CLIENTS

STILL HAVE QUESTIONS?

As the world’s leading talent development and transition company we at LHH|Gulf believe in working in collaboration, and building strong working relationships with our partners. We appreciate Igloo for their technical skill and support as well as their flexibility and commitment to getting to know our business. We have been encouraged to raise questions and through discussion Igloo have identified solutions to our needs. Igloos’ flexible and personable approach has supported us move forward and set measurable targets to monitor our progress. We are looking forward to continuing to work together and would recommend Igloo’s services to any business considering any of their services.

Karen Oliver | Managing Director

We were seeking a professional experienced Dubai based web developer that could re-design our website using a WordPress template. Igloo was recommended to us, and they did not disappoint. As leader in interior fit out solutions we needed a new website that showcased our interior projects, communicated our services and sustainability values – without compromising on the design and user experience. During development Igloo were very responsive to design suggestions and helped advise us on best options for enhancing the user experience. We are delighted with our new website and have already recommended their services.

Sally Jones | Marketing Manager

I work in a company involved in the Medical industry. We initially reached out to Igloo for a few specific services, yet over time we have asked them to take on more and more, as we were clearly impressed by what they had to offer!
Not only has Igloo been extremely professional, they have also gone above and beyond what we initially expected from them, making an extra effort to cater to our individual needs.
I love the personal attention that Igloo gives to its clients, and am really happy with their services- hope that they can keep it up!

Shehzeen Ahmad | Manager

Based on my experience, Igloo is one of the best website designers and developers in the industry thanks to their professional team and top-notch service. The staff in Igloo has an in-depth knowledge of the services they provide, and they are able to demonstrate it by delivering outstanding results.I was impressed by their creativity and attention to detail every step of the way. They make sure they understand their clients’ needs, which is why I highly recommend Igloo to any business who needs a website.

Aksana Bazhdugova | General Manager

As leader in our industry, communication, marketing and branding are important part of our day-to-day business. Brand awareness and positioning are of strategic importance and this is best left to experts.The Igloo team have assisted us with our social media activities, marketing and website solutions so far as well as working on special projects.

Romain Liot | Managing Director
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FAQS

Do you guarantee results?

Yes, we do. When digital marketing is done right, then an agency should be able to guarantee results.

What industries do you work with?

We work with various industries including FMCG, E-Commerce, Real Estate, Automotive, Healthcare, Education, Law, Finance, and more.

Do you share monthly reports?

Yes, we do. We also share a real-time report that our clients can access 24/7 through a link.

Which digital marketing channels we should invest in?

The answer varies from business to business, it’s better for some businesses to focus on push marketing like Social Media & Display Ads, and some on Search Ads and SEO.

Where is your digital marketing team based?

Our team is based in Dubai, France, UK, US, Serbia, Poland, India, and Lebanon.

What is better SEO or Google Ads?

Both are good. It depends if you are looking for quick results or long-term. Google Ads can go live immediately and started generating sales, while SEO takes months to start generating you a good amount of traffic and sales. SEO traffic quality is usually more qualified as the users that know the difference normally don’t trust ads.

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