Welcome to another episode of the Marketing Slice by Hurree, the show where the team at Hurree gives you marketing insights, hints, and tips to help improve your results right now. In this episode, Dominique Daly will discuss 10 competitor analysis tools that you need in your marketing stack. 

What is a competitor analysis?

Competitor analysis is the process of researching, categorising, and evaluating the strengths and weaknesses of brands that you deem to be a potential threat to your business. You can read our step-by-step guide to conducting a successful competitor analysis for the first time over on the Hurree blog. 

Conducting a competitor analysis is essential to understand the strengths and weaknesses of your business rivals. There are many benefits to conducting a thorough analysis of your competitors; you will: 

• Gain a better understanding of the market you operate within
• Learn more about how your target audience view your brand and its competitors
• Predict future opportunities for growth and expansion by identifying market gaps
• Identify product and feature development horizons
• Become more competitive with pricing
• Foresee threats arising from indirect competitor crossover

Marketing technology can be a significant help when it comes to conducting a competitor analysis that is rich with insights to inform your marketing strategy. We will divide these tools into six broad areas that correspond to a section of the competitor analysis process. These are: 

1. Market Research Tools 
2. Customer Feedback Tools
3. Operational Tools
4. SEO Tools
5. Traffic & Marketing Stack Tools 
6. Content Tools 

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