There are two types of competitors to consider – your direct and your indirect competitors.
This should include their pricing strategy as well as the quality of the product or service they are offering their customers.
This is where your competitive analysis can get a bit tricky and finding all of the information can be quite time consuming (unless you are a KnowFirst™ premium subscriber of course!).
Social media, and other digital platforms, continue to drive engagement and authority for most organisations.
Being able to beat your competition requires knowing as much as possible about them. And their tech stack is often a breadcrumb trail, leading you to insights into their strategies and key differentiators.
If you have gotten all the way to this step, you probably feel like you know everything you need to about your competition. And this is why your SWOT analysis is one of the most important steps.