September 1, 2020

How to Properly Navigate Through the Competitive Landscape

an image of a mountain with flags symbolizing the competitive landscape

A report from Crayon revealed 41 percent of those surveyed “strongly agree” on the major role competitive intelligence plays in their organization’s success. By analyzing the competitive landscape, brands can build a strong local search presence, create unique and desirable customer experiences, and differentiate from rival brands to drive growth.

In order to assess the competitive landscape, brands often rely on tools to help aggregate large amounts of information to help analyze and compare overall performance and ranking. With ReviewTrackers suite of Competitor tools, brands can easily manage all aspects of their competitive research and strategy including:

How ReviewTrackers’ Competitor Tools Reveal the Competitive Landscape

With streamlined competitor identification and rich insights you can build strategies that contribute to growth and success. Using ReviewTrackers’ Competitor tools to its full potential can be the key to winning over customers and staying ahead of the competition.

Seamlessly Identify Rival Brands

Automatically identifying your competitors and tracking their performance is the first step to standing out in a crowded market. Doing so gives your brand the ability to build competitive strategies to differentiate in local and regional markets, delight customers, and drive loyalty.

an image of the first step of finding a competitor brand via reviewtrackers

With ReviewTrackers Competitor Brands tool, multi-location businesses can easily identify, import and monitor rival brands related to each location, which saves hours of time and provides a holistic view of the competitive landscape in each market.

an image of the second step of choosing a competitor via the reviewtrackers platform

Understand and Analyze the Current Competitive Landscape

Visualizing the competitive landscape provides a clear view of performance comparisons and allows brands to build tangible strategies related to requesting, responding, and amplifying reviews as well as improving their online rank and the overall customer experience.

Use ReviewTrackers to identify which rival brands are market leaders, strong performers, and contenders based on metrics such as, average rating and amount of reviews. You can then employ strategies to stand out such as asking for reviews, learning how to respond to negative reviews, and using the Amplify tool to show off your best feedback for social proof.

By understanding the effects of the strategies put in place you enable brand stakeholders to understand which locations may need more attention, or which require alternative strategies focused on market differentiators.

an image of a list of business competitors on reviewtrackers

Build Strategies Tailored to Each Market

For a more focused strategy, you can also group competitor data by region or other identifying parameters to get the nuance you need to build a local and regional marketing strategy.

Why does that matter? A pizza chain with locations across the country faces a different level of competition (with different consumer expectations) in New York than it does in Chicago.

By honing in on specific markets, your brand can identify why a market may be struggling based on insights from reviews, and implement meaningful operational strategies to improve customer experiences that increase competitive ranking and ultimately drive growth.

a chart of business and competitors in the competitive landscape

Track Progress and Growth

With executive level reporting you can easily display growth over time and share which tactics and strategies led to growth and success.

Detailed reporting also helps with tracking brand reputation changes on a monthly (or even daily) basis. These insights can also help uncover pain points, which can lead to meaningful changes. You can then use Landscape charts to help visualize those new strategies for both overall brand and specific location growth.

an example of the review rating and site distribution on the reviewtrackers platform

Categorize and Analyze Keywords and Trends within Competitor Reviews

Competitor Experience takes the same categories available in Experience Analysis and categorizes your competitors’ review data in industry-specific categories, which delivers insights into areas where rivals excel and need improvement.

a screenshot of reviewtrackers competitors tools showing keywords between competing brands

Competitor Experience also delivers comparisons in popular keyword mentions between your brand and each competitor.

These insights power brands to build actionable strategies that improve operations in key areas. Over time, this can attract more business from the competition.

a screenshot of reviewtrackers' competitors tools showing trends among brands

Gain An Advantage on the Competitive Landscape

Adding tools to your brand’s toolbox can give you a strategic market advantage when it comes to understanding the competitive landscape on a brand and location level. It opens doors to build local strategies tailored to each market and allows for tracked progress and growth.

With ReviewTrackers, you can seamlessly track the competitive landscape and visualize location performance, which enables your team to build a local strategy that caters to your specific markets. Competitor tools are available with Essential and Platinum plans – to gain access, reach out to your ReviewTrackers CSM for more details.

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