A popular phrase in the marketing world states, “always be one step ahead of your competition.” But, how do you accomplish that? Develop a competitive analysis.

Why are your competitors outranking you? What are their strengths and weaknesses? What are their marketing strategies? All of these questions are answered through a competitor analysis.

What is a competitive analysis?

A competitive analysis identifies and evaluates your competitors in comparison to your business. More specifically, your analysis should include the following:

• Identifying your competitors and highlighting those that pose the biggest challenge
• Researching information about your competitors
  • i.e. pricing, financials, marketing campaigns and social media, company history, their marketed demographic, and locations they cover
• Evaluating their strategies
  • Determine their strengths and weaknesses to your brand’s

Why do competitive analysis?

Competitive research is crucial to your success as a business because it helps you create better marketing strategies. Moreover, it allows you to make educated decisions about your strategy and guarantees you can create competitive advantages. A competitive analysis gives you the ability to quickly identify industry trends and adapt to other marketing campaigns. As a result, all of these enable you to stay ahead of your competitors.

Conclusion

It cannot be a one-time thing. In short, frequently completing a competitor analysis gives your business the advantage to outsmart the competition. 

Next up in the Rocker Spotlight series is Front Porch Rock Star Vanessa Hickman, where she shares her experience on the porch and things she has learned throughout her career.

Biggest Misconception about Marketing

The biggest misconception about marketing today is that there is one solution to advance brands in their marketing goals.

Advice You Would Give To Someone Struggling With Brand Identity

Seek  third-party experts to facilitate the process!

Lessons Learned

As a marketing maven and Front Porch Rock Star, one of the biggest lessons I’ve learned is “your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do”- Steve Jobs.

What is Good Marketing?

Above all, good marketing is intentional, consistent and precise.

Dinner With 1 Person Living Or Dead

If I could go to dinner with one person living or dead I would choose Jesus.

Describe Yourself in 3 Words

I describe myself as loyal, inclusive and loving.

Favorite Thing About FPM

My favorite thing about FPM is delivering results for a variety of clients. Above all, I would describe the culture at FPM as collaborative, caring and dedicated. Furthermore, FPM differentiates itself with its sound strategy, excellent execution and tenured team members.

Fun Fact

My fun fact is I graduated with a Bachelor of Science and Bachelor of Arts when I was 20 years old.

My 13-year-old daughter is my hero.

At a time in her life when conformance equals survival and fitting in is everything (yes, we are talking about the angst of middle school), she has steadfastly, unapologetically and intentionally made choices that are true to her character, her spirit and her style.

In a sea full of long-haired girls, she chopped hers off and donated it to Locks of Love. When the group texts become more mean-spirited than meaningful, she turns her phone off and sits at the piano to play and sing. And although “being cool” is the going currency, she hangs onto her goofy, silly side. She tells me all the time, “I’m just doing me, Mom.”

She is her authentic self.

I admire this about her tremendously, and the truth is that it has inspired me to be more authentic myself. To:

• Make choices that make sense for me and my family.
• Spend my time doing what I want and not what I “should.”
• Care less what others’ perceptions are.
• Say no.
• Remember myself in the equation.

It’s freeing. I highly recommend it.

This way of being also translates to the business world, which has been a resounding theme in my short time working with the goddesses at Front Porch Marketing. I have realized just how important authenticity is for your business, particularly a small business. Can you answer the following:

1. Who are you?
2. What are you doing that makes you unique?
3. What is your brand?
4. How are you representing yourself?
5. Are you engaging in authentic online engagement?

It is imperative that you can answer these questions with clarity and that your brand is clear in everything you say and do. We on the Porch are passionate about helping you express your authentic self. It’s our mission!

Indeed, we want you to “just do you.”