Analyze initiatives and campaigns run by your competitors, instantly find out what’s working and what isn’t and benchmark it again your own performance. Make changes where they matter the most and set objective KPIs with the right data.
Study Competitor Activities and Understand What's Working and Not
Competitor Research refers to monitoring and analyzing your competitors, who exist in the same space you're in, in various aspects such as what kind of communication strategy they're using in this quarter, what does their digital marketing implementation look like, what influencers are they using to push campaign awareness and so on. Luckily for us, we live in an era where advertising and communication budgets are consistently being expanding on digital and social making it easier not only for companies to implement and track, but also to monitor and analyze on daily (or sometimes even hourly) basis.
Since marketing, consumer and sales campaigns are all out in the open and publicly available on digital, we now have the capability to study and find out not only what our competitors are doing, but also go further as to measure what's working and what's not by measurements such as engagement and virality.
Sonar Analytics tracks each brand, product or service and compiles numerous data points related to your company vs. your competitors. Since Sonar Analytics only compiles public data, or data that is in public domain, direct comparisons in the form of Share of Voice, Negative Sentiment Levels, Issue Mapping can be generated in near real-time. Keep track of your competitors’ campaigns and consumer engagements and discover how each engagement played out in terms of exact numbers and perception
Combining our analytical solutions with our key products; Sonar Analytics and Sonar Influence, we provide our clients with exactly that, what strategies and consumer engagements are working and key points on what you shouldn't do - mainly because others have tried a similar approach and failed. We save our clients valuable resources by constructing engagement reports on their competitors, helping them instantly learn from their competitors and stay away from what didn't.
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