{"id":168323,"date":"2024-09-30T10:08:13","date_gmt":"2024-09-30T08:08:13","guid":{"rendered":"https:\/\/brand24.com\/blog\/?p=168323"},"modified":"2026-02-16T01:14:14","modified_gmt":"2026-02-16T00:14:14","slug":"competitive-audit","status":"publish","type":"post","link":"https:\/\/brand24.com\/blog\/competitive-audit\/","title":{"rendered":"How to Do a Competitive Audit? The 7 Step Guide [2026]"},"content":{"rendered":"\n<p>Running a business without checking out the competition is like showing up to a party without knowing the dress code &#8211; you might think you\u2019re killing it, but you could be totally off.<\/p>\n\n\n\n<p>A competitive audit is your insider pass to see what everyone else is doing, find out what\u2019s working, and where you can improve.&nbsp;<\/p>\n\n\n\n<p>It\u2019s easier than you think and could give you the edge you didn\u2019t even know you needed.<\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#eeffee\">A <strong>competitive audit<\/strong> is the process of analyzing your competitors to understand their strengths, weaknesses, and marketing and pricing strategies. It helps you find growth opportunities, improve marketing, and strengthen your competitive edge.<\/p>\n\n\n\n<p>So, do you want to conduct a competitor audit?<\/p>\n\n\n\n<p>Here&#8217;s a step-by-step tutorial with some insider tips!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-is-a-competitive-audit\"><strong>What is a competitive audit?<\/strong><\/h2>\n\n\n\n<p>A competitive audit, or a so-called competitor audit, is the process of analyzing your competitors to understand their strengths, weaknesses, strategies, and how they position themselves in the market.<\/p>\n\n\n\n<p>This audit helps you identify opportunities for growth, improve your marketing strategies, and sharpen your competitive edge.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"why-should-you-conduct-a-competitive-audit\"><strong>Why should you conduct a competitive audit?<\/strong><\/h3>\n\n\n\n<p>A solid audit helps shape your marketing strategies and gives you a clear path for what to do next.&nbsp;<\/p>\n\n\n\n<p>It also sets benchmarks to track your business&#8217;s progress.<\/p>\n\n\n\n<p>Conducting a <a href=\"https:\/\/brand24.com\/use-case\/competitive-analysis\/\" target=\"_blank\" rel=\"noopener\" title=\"\">competitive analysis<\/a> allows you to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Identify gaps in your own strategies and adjust accordingly.<\/li>\n\n\n\n<li>Understand the strengths and weaknesses of competitors.<\/li>\n\n\n\n<li>Stay updated on market trends and shifts.<\/li>\n\n\n\n<li>Build stronger value propositions for your brand.<\/li>\n\n\n\n<li>Identify new potential customers.<\/li>\n\n\n\n<li>Get inspired by competitors&#8217; content and marketing tactics.<\/li>\n<\/ul>\n\n\n<style>.acf-simple-cta{border-radius:20px;background-color:#fff;max-width:640px;margin:auto;margin-bottom:30px;padding:30px 15px}@media(min-width: 768px){.acf-simple-cta{padding:48px 62px 46px 62px}}.acf-simple-cta__title{font-size:22px !important;font-weight:600;line-height:23px !important;color:#000;text-align:center;margin-top:10px}@media(min-width: 576px){.acf-simple-cta__title{max-width:280px;text-align:left;margin-top:0}}.acf-simple-cta__title span{color:#00ef88}.acf-simple-cta__row{text-align:center}@media(min-width: 768px){.acf-simple-cta__row{display:flex;align-items:center;justify-content:space-between;gap:10px;text-align:left}}.acf-simple-cta__content{margin-bottom:20px;text-align:center}@media(min-width: 576px){.acf-simple-cta__content{display:flex;justify-content:center;align-items:center;gap:10px;width:100%;max-width:100%}}@media(min-width: 768px){.acf-simple-cta__content{align-items:center;justify-content:space-between;margin-bottom:0;max-width:66%}}.acf-simple-cta__btn{flex-shrink:0;border-radius:30px;padding:11px 21px;font-size:14px;line-height:18px;font-weight:500 !important;color:#000 !important;letter-spacing:-0.14px;background-color:#00ef88;border:none;transition:background-color .3s ease,opacity .3s ease;display:inline-block}.acf-simple-cta__btn:hover{background-color:#4bffae;text-decoration:none;opacity:.9}.acf-simple-cta__btn:focus-visible{outline:2px solid #00ef88}.acf-simple-cta--primary{background-color:#00ef88}.acf-simple-cta--primary .acf-simple-cta__title{color:#fff}.acf-simple-cta--primary .acf-simple-cta__title span{color:#000}.acf-simple-cta--primary .acf-simple-cta__btn{background-color:#000;color:#fff !important;transition:background-color .3s ease-in-out}.acf-simple-cta--primary .acf-simple-cta__btn:hover{background-color:#171717}.acf-simple-cta--violet{background-color:#000}.acf-simple-cta--violet .acf-simple-cta__title{color:#fff}.acf-simple-cta--violet .acf-simple-cta__title span{color:#bf00ff}.acf-simple-cta--violet .acf-simple-cta__btn{background-color:#bf00ff;color:#000 !important;transition:background-color .3s ease-in-out}.acf-simple-cta--violet .acf-simple-cta__btn:hover{background-color:#bf00ff}.acf-simple-cta--small{padding:20px 15px}@media(min-width: 768px){.acf-simple-cta--small{padding:33px 45px 31px 56px}}.acf-simple-cta--no-icon .acf-simple-cta__content{max-width:100%;width:auto}.acf-simple-cta--no-icon .acf-simple-cta__title{max-width:100%}@media(min-width: 768px){.acf-simple-cta--no-icon.acf-simple-cta--small .acf-simple-cta__content{max-width:55%}}<\/style>\n<div class=\"acf-simple-cta acf-simple-cta--default acf-simple-cta--no-icon\">\n    <div class=\"acf-simple-cta__wrapper\">\n        <div class=\"acf-simple-cta__row\">\n            <div class=\"acf-simple-cta__content\">\n                                                    <div class=\"acf-simple-cta__title\">Conduct a Competitive Audit!<\/div>\n                            <\/div>\n                            <a href=\"https:\/\/app.brand24.com\/user\/register-account\/?custom_form=257\" class=\"acf-simple-cta__btn\" target=\"\">Start Trial!<\/a>\n                    <\/div>\n    <\/div>\n<\/div>\n\n\n\n<p><strong>Pro Tip: Ask AI tools for audit&nbsp;<\/strong><\/p>\n\n\n\n<p>AI technology is an absolute game-changer to conduct a competitive audit.<\/p>\n\n\n\n<p>I honestly can&#8217;t imagine having to identify all metrics on my own and conduct the competitive analysis manually.<\/p>\n\n\n\n<p>So, I tested using <strong>AI Brand Assistant<\/strong> to create a competitor audit for Qatar Airlines. I wanted to identify its competitors and benchmark against them.<\/p>\n\n\n\n<p>Plus, I went a step further and asked for an analysis of specific marketing efforts &#8211; like addressing new regulations and policies.<\/p>\n\n\n\n<p>Here&#8217;s a competitor audit about sustainability for airlines:<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a445d2&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a445d2\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"956\" height=\"500\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-ai-audit-brand-assistant.png\" alt=\"Competitive analysis example: Qatar Airlines\" class=\"wp-image-168325\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-ai-audit-brand-assistant.png 956w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-ai-audit-brand-assistant-18x9.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-ai-audit-brand-assistant-300x157.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-ai-audit-brand-assistant-248x130.png 248w\" sizes=\"auto, (max-width: 956px) 100vw, 956px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Competitive analysis example: Qatar Airlines<\/figcaption><\/figure>\n\n\n\n<p>And about new regulations:<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a44e1b&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a44e1b\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"452\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-ai-brand-assistant.png\" alt=\"Competitive analysis example: Qatar Airlines\" class=\"wp-image-168326\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-ai-brand-assistant.png 1000w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-ai-brand-assistant-18x8.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-ai-brand-assistant-300x136.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-ai-brand-assistant-248x112.png 248w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n<p>And here&#8217;s the fun fact: I didn&#8217;t even know what kind of new regulations were introduced for airlines &#8211; I just asked the AI.<\/p>\n\n\n\n<div class=\"acf-simple-cta acf-simple-cta--default acf-simple-cta--no-icon\">\n    <div class=\"acf-simple-cta__wrapper\">\n        <div class=\"acf-simple-cta__row\">\n            <div class=\"acf-simple-cta__content\">\n                                                    <div class=\"acf-simple-cta__title\">Benchmark against competitors!<\/div>\n                            <\/div>\n                            <a href=\"https:\/\/app.brand24.com\/user\/register-account\/?custom_form=257\" class=\"acf-simple-cta__btn\" target=\"\">Start Trial!<\/a>\n                    <\/div>\n    <\/div>\n<\/div>\n\n\n\n<p>During that process, I created this list of ready-to-use prompts to get a competitive analysis from an AI tool.<\/p>\n\n\n\n<p>I don&#8217;t want to over-clutter this article with AI analysis examples, so you have to believe me &#8211; the answers were impressive, and you should definitely give it a try!<\/p>\n\n\n\n<p>Here&#8217;s what prompts I used:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>What are the key strengths of the [brand&#8217;s] competitive strategy?<\/li>\n\n\n\n<li>What weaknesses should [brand] address to improve its market position?<\/li>\n\n\n\n<li>Who are [brand] main competitors, and what are their strengths and weaknesses?<\/li>\n\n\n\n<li>What is [brand&#8217;s] unique value proposition?<\/li>\n\n\n\n<li>How is [brand] perceived in the market?<\/li>\n\n\n\n<li>What market share does [brand] currently hold, and how has this changed over the past quarter?<\/li>\n\n\n\n<li>What are the most significant threats from new entrants in [brand&#8217;s] industry?<\/li>\n\n\n\n<li>What distribution channels do competitors use, and how does [brand&#8217;s] approach differ?<\/li>\n\n\n\n<li>What are the strengths and weaknesses of [brand&#8217;s] marketing and promotional efforts compared to competitors?<\/li>\n\n\n\n<li>What technological advancements have competitors made, and how does [brand] compare in terms of innovation?<\/li>\n\n\n\n<li>What are the key differentiators that set [brand] apart from its competitors?<\/li>\n\n\n\n<li>What regulatory or legal challenges are affecting the industry, and how are competitors addressing them?<\/li>\n\n\n\n<li>What partnerships or alliances have competitors formed, and how does [brand] compare?<\/li>\n\n\n\n<li>How sustainable or environmentally friendly is [brand&#8217;s] product or service compared to competitors?<\/li>\n\n\n\n<li>What trends or consumer demands is [brand] not addressing that its competitors are?<\/li>\n<\/ol>\n\n\n\n<p>You can copy these questions into Brand Assistant or a similar AI tool to generate immediate results.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-to-do-a-competitive-audit\"><strong>How to do a competitive audit?<\/strong><\/h2>\n\n\n\n<p>AI tools are great, but if you want to do it on your own &#8211; here&#8217;s a step-by-step tutorial.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"identify-your-goals-and-objectives\"><strong>Step 1: Identify your goals and objectives<\/strong><\/h3>\n\n\n\n<p>Before starting the audit, identify your goals and objectives. What specific questions do you want to answer with this competitive audit?<\/p>\n\n\n\n<p>The most common goals of a competitive audit are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Identifying direct and indirect competitors<\/li>\n\n\n\n<li>Understanding the target audience and their needs<\/li>\n\n\n\n<li>Analyzing the competitive landscape and market trends<\/li>\n\n\n\n<li>Identifying opportunities to improve your marketing strategy and value proposition<\/li>\n\n\n\n<li>Informing product development and pricing strategy<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"identify-competitors\"><strong>Step 2: Identify competitors<\/strong><\/h3>\n\n\n\n<p>Identifying your competitors is a critical step in the competitive audit process.<\/p>\n\n\n\n<p>You need to identify both: <strong>direct and indirect competitors<\/strong>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Direct competitors are companies that offer similar products or services to the same target audience.<\/li>\n\n\n\n<li>Indirect competitors, on the other hand, offer different products or services that meet the same customer needs.<\/li>\n<\/ul>\n\n\n\n<p>For example, if you\u2019re a coffee shop, your direct competitors might be other coffee shops in the area, while your indirect competitors might be restaurants or cafes that serve coffee.<\/p>\n\n\n\n<p>To identify your competitors, you can use a variety of methods, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Online research<\/li>\n\n\n\n<li>Customer surveys<\/li>\n\n\n\n<li>Industry reports<\/li>\n<\/ul>\n\n\n\n<p>Plus, some platforms, like Semrush&#8217;s Market Explorer, offer a dedicated tool for a competitor&#8217;s research.<\/p>\n\n\n\n<p>Market Explorer provides a list of the top players in your specific market. Selection criteria include their total, direct, referral, search, social, and paid traffic volume.&nbsp;<\/p>\n\n\n\n<p>For a detailed guide, check out<a href=\"https:\/\/brand24.com\/blog\/perform-competitor-analysis\/\"> <\/a>this article on performing <a href=\"https:\/\/brand24.com\/blog\/perform-competitor-analysis\/\">competitor analysis<\/a>.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a45ccc&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a45ccc\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"866\" height=\"500\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-competitor-analysis-market.png\" alt=\"Competitive analysis report: Market Explorer by Semrush\" class=\"wp-image-168327\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-competitor-analysis-market.png 866w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-competitor-analysis-market-18x10.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-competitor-analysis-market-300x173.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-competitor-analysis-market-248x143.png 248w\" sizes=\"auto, (max-width: 866px) 100vw, 866px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Competitive analysis report: Market Explorer by Semrush<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"collect-data-through-primary-and-secondary-research\"><strong>Step 3: Collect data through primary and secondary research<\/strong><\/h3>\n\n\n\n<p>Competitive audit without analysis is like playing chess blindfolded \u2013 you&#8217;re making moves, but you can&#8217;t see your opponent&#8217;s strategy&#8230; and likely lose.<\/p>\n\n\n\n<p>Data is your knowledge and an essential part of any audit.&nbsp;<\/p>\n\n\n\n<p>It sharpens your understanding of competitors&#8217; moves, helping you counter them effectively and build a stronger strategy.<\/p>\n\n\n\n<p>Without it, you&#8217;re just throwing punches in the dark, hoping your instincts are enough to land a hit (spoiler: they&#8217;re not).<\/p>\n\n\n\n<p>The most <strong>essential elements for conducting a competitive audit are<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/brand24.com\/blog\/market-presence\/\" target=\"_blank\" rel=\"noopener\" title=\"Market presence\">Market presence<\/a> analysis<\/li>\n\n\n\n<li>Competitive advantage comparison<\/li>\n\n\n\n<li>Pricing strategies<\/li>\n\n\n\n<li>Product and service offerings<\/li>\n\n\n\n<li>Customer feedback and reviews<\/li>\n\n\n\n<li>Marketing and promotional strategies<\/li>\n\n\n\n<li>Technology and innovation<\/li>\n\n\n\n<li>Partnerships and alliances<\/li>\n\n\n\n<li>Global and local market expansion<\/li>\n\n\n\n<li>Regulations strategies<\/li>\n<\/ul>\n\n\n\n<p>You can use these tools to gather data:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Brand24<\/strong> for reach, sentiment, platforms, and reputation.<\/li>\n\n\n\n<li><strong>Semrush<\/strong> for SEO, content, and market share.<\/li>\n\n\n\n<li><strong>Ahrefs<\/strong> for backlink analysis, keyword research, and tracking competitors&#8217; SEO strategies.<\/li>\n\n\n\n<li><strong>Sprout Social<\/strong> for social media presence and strategies.<\/li>\n\n\n\n<li><strong>G2<\/strong> for gathering insights from real customer reviews and ratings.<\/li>\n<\/ol>\n\n\n\n<p>Here&#8217;s an example of how data from a <a href=\"https:\/\/brand24.com\/blog\/sentiment-analysis\/\" title=\"sentiment analysis\">sentiment analysis<\/a> can look like inside the tool:<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a46723&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a46723\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"350\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-positive-sentiment.png\" alt=\"Competitive analysis: gathering data - positive sentiment.\" class=\"wp-image-168328\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-positive-sentiment.png 1000w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-positive-sentiment-18x6.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-positive-sentiment-300x105.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-positive-sentiment-248x87.png 248w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Competitive analysis: gathering data &#8211; positive sentiment.<\/figcaption><\/figure>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a46f13&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a46f13\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"339\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-negative-sentiment.png\" alt=\"Competitive analysis: gathering data - negative sentiment.\" class=\"wp-image-168329\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-negative-sentiment.png 1000w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-negative-sentiment-18x6.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-negative-sentiment-300x102.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-negative-sentiment-248x84.png 248w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Competitive analysis: gathering data &#8211; negative sentiment.<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"analyze-key-differentiators\"><strong>Step 4: Analyze key differentiators<\/strong><\/h3>\n\n\n\n<p>A value proposition is what makes brands stand out.<\/p>\n\n\n\n<p>It&#8217;s usually super clear to spot.<\/p>\n\n\n\n<p>For example, <strong>Apple<\/strong> is known for its sleek, premium design.<\/p>\n\n\n\n<p>When I think of Apple, I immediately see innovation, simplicity, and high-end quality. That&#8217;s their value prop, and it&#8217;s consistent across all their products.<\/p>\n\n\n\n<p>Now, what&#8217;s your competitor&#8217;s value prop?<\/p>\n\n\n\n<p>Keep in mind, products can have more than one differentiator. Usually, each of your products will have its own unique features or selling points. You need to know what those are, plus what people love or hate about them.<\/p>\n\n\n\n<p>Some key differentiators include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Unique features<\/li>\n\n\n\n<li>Unique processes (how it&#8217;s made, where it&#8217;s made, who made it)<\/li>\n\n\n\n<li>Cool product backstory<\/li>\n\n\n\n<li>Interesting voice and tone<\/li>\n\n\n\n<li>Amazing user experience<\/li>\n\n\n\n<li>Fastest shipping<\/li>\n\n\n\n<li>Free, helpful content<\/li>\n<\/ul>\n\n\n\n<p>These are the things that can set you apart in the eyes of your customers.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a478bb&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a478bb\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"841\" height=\"500\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-key-differentiators.png\" alt=\"Market research: key differentiators.\" class=\"wp-image-168330\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-key-differentiators.png 841w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-key-differentiators-18x12.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-key-differentiators-300x178.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-key-differentiators-248x147.png 248w\" sizes=\"auto, (max-width: 841px) 100vw, 841px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Market research: key differentiators.<\/figcaption><\/figure>\n\n\n\n<div class=\"acf-simple-cta acf-simple-cta--default acf-simple-cta--no-icon\">\n    <div class=\"acf-simple-cta__wrapper\">\n        <div class=\"acf-simple-cta__row\">\n            <div class=\"acf-simple-cta__content\">\n                                                    <div class=\"acf-simple-cta__title\">Conduct a Competitive Audit!<\/div>\n                            <\/div>\n                            <a href=\"https:\/\/app.brand24.com\/user\/register-account\/?custom_form=257\" class=\"acf-simple-cta__btn\" target=\"\">Start Trial!<\/a>\n                    <\/div>\n    <\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"conduct-a-swot-analysis\"><strong>Step 5: Conduct a SWOT analysis<\/strong><\/h3>\n\n\n\n<p>A SWOT analysis is essential to identify areas of growth and risk for both you and your competitors.<\/p>\n\n\n\n<p>This approach breaks down into four key areas:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Strengths<\/strong> highlight what you&#8217;re doing better than your competitors and what you can leverage for ongoing success.<\/li>\n\n\n\n<li><strong>Weaknesses<\/strong> point out where you&#8217;re falling behind and need to improve to reduce any negative impact.<\/li>\n\n\n\n<li><strong>Opportunities<\/strong> help you spot new trends, markets, or segments that you can tap into for growth.<\/li>\n\n\n\n<li><strong>Threats<\/strong> identify external challenges, like aggressive competitors or shifts in customer behavior, that could affect your business.<\/li>\n<\/ol>\n\n\n\n<p><strong>Pro tip:<\/strong> Many AI tools can generate SWOT analyses based on your input!<\/p>\n\n\n\n<p>For example, I asked a <strong><a href=\"https:\/\/brand24.com\/brand-assistant\/\" title=\"Brand Assistant\">Brand Assistant<\/a><\/strong> to perform a SWOT analysis on a Garmin competitor &#8211; Apple Watch, and here\u2019s what I got.<\/p>\n\n\n\n<p>About strengths and weaknesses:<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a48388&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a48388\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"708\" height=\"500\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-swot-ai.png\" alt=\"Competitor analysis: SWOT analysis by AI Brand Assistant.\" class=\"wp-image-168331\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-swot-ai.png 708w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-swot-ai-18x12.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-swot-ai-300x212.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-swot-ai-225x159.png 225w\" sizes=\"auto, (max-width: 708px) 100vw, 708px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Competitor analysis: SWOT analysis by AI Brand Assistant.<\/figcaption><\/figure>\n\n\n\n<p>And about opportunities and threads:<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a48bc5&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a48bc5\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"773\" height=\"500\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-swot-analysis.png\" alt=\"Competitor analysis: SWOT analysis by AI Brand Assistant.\" class=\"wp-image-168332\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-swot-analysis.png 773w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-swot-analysis-18x12.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-swot-analysis-300x194.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-swot-analysis-246x159.png 246w\" sizes=\"auto, (max-width: 773px) 100vw, 773px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Competitor analysis: SWOT analysis by AI Brand Assistant.<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"benchmark-the-performance\"><strong>Step 6: Benchmark the performance<\/strong><\/h3>\n\n\n\n<p>Now that we\u2019ve got the competitors and the data &#8211; we&#8217;re all set to benchmark!<\/p>\n\n\n\n<p>It&#8217;s a cherry on top of a competitor audit and provides lots of actionable insights.<\/p>\n\n\n\n<p>Let me show you how to do it.<\/p>\n\n\n\n<p>I used Brand24\u2019s &#8220;Compare periods&#8221; feature to look at Garmin\u2019s and Apple Watch\u2019s performance during recent quarters.<\/p>\n\n\n\n<p>I set up projects for both of the products and went straight to the Comparison tab.<\/p>\n\n\n\n<p>That&#8217;s what I got:<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a49496&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a49496\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"867\" height=\"500\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-compare-periods.png\" alt=\"Competitor research - compare projects in Brand24.\" class=\"wp-image-168333\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-compare-periods.png 867w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-compare-periods-18x10.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-compare-periods-300x173.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-compare-periods-248x143.png 248w\" sizes=\"auto, (max-width: 867px) 100vw, 867px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Competitor research &#8211; compare projects in Brand24.<\/figcaption><\/figure>\n\n\n\n<p>It\u2019s clear &#8211; Apple Watch still has a larger share of the conversation with <strong>64K total mentions<\/strong> compared to Garmin\u2019s <strong>47K<\/strong>, but Garmin is better in <strong>positive sentiment<\/strong> with <strong>35% (16K)<\/strong> positive mentions, whereas Apple Watch saw <strong>22% (14K)<\/strong>.<\/p>\n\n\n\n<p>This suggests Garmin users are more satisfied with their products, while Apple Watch continues to generate a larger volume of discussions, whether positive or negative.<\/p>\n\n\n\n<p>Both brands have areas to improve, but Garmin could leverage its positive mentions to amplify its reputation even further.<\/p>\n\n\n\n<div class=\"acf-simple-cta acf-simple-cta--default acf-simple-cta--no-icon\">\n    <div class=\"acf-simple-cta__wrapper\">\n        <div class=\"acf-simple-cta__row\">\n            <div class=\"acf-simple-cta__content\">\n                                                    <div class=\"acf-simple-cta__title\">Benchmark against competitors!<\/div>\n                            <\/div>\n                            <a href=\"https:\/\/app.brand24.com\/user\/register-account\/?custom_form=257\" class=\"acf-simple-cta__btn\" target=\"\">Start Trial!<\/a>\n                    <\/div>\n    <\/div>\n<\/div>\n\n\n\n<p>But during the last months, something unusual happened for Apple Watch &#8211; in a periods comparison there&#8217;s a clear, sudden spike:<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a49eaf&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a49eaf\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"855\" height=\"500\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-compare-projects.png\" alt=\"Compare periods by Brand24.\" class=\"wp-image-168334\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-compare-projects.png 855w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-compare-projects-18x12.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-compare-projects-300x175.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-compare-projects-248x145.png 248w\" sizes=\"auto, (max-width: 855px) 100vw, 855px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Compare periods by Brand24.<\/figcaption><\/figure>\n\n\n\n<p>What drove Apple Watch\u2019s recent surge in mentions?<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d6fb1a4a6c6&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d6fb1a4a6c6\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"371\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-anomaly-detector.png\" alt=\"Spike in mentions identified by Brand24 Anomaly Detector.\" class=\"wp-image-168335\" srcset=\"https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-anomaly-detector.png 1000w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-anomaly-detector-18x7.png 18w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-anomaly-detector-300x111.png 300w, https:\/\/brand24.com\/blog\/app\/uploads\/2024\/09\/competitive-audit-anomaly-detector-248x92.png 248w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Spike in mentions identified by Brand24 Anomaly Detector.<\/figcaption><\/figure>\n\n\n\n<p>A new product launch!<\/p>\n\n\n\n<p>Identifying any unusual actions and adding them to your competitive audit is a great idea.<\/p>\n\n\n\n<p>In this case, I used Anomaly Detector by Brand24.<\/p>\n\n\n\n<p>My final thought from this competitor analysis is:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Garmin can capitalize on its customer satisfaction and further strengthen its social presence<\/li>\n\n\n\n<li>Apple may want to focus its marketing strategy on turning its broader conversations into more positive mentions, especially after product launches.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"monitor-and-review\"><strong>Step 7: Monitor and review<\/strong><\/h3>\n\n\n\n<p>Monitoring and reviewing are crucial parts of a competitive audit.<\/p>\n\n\n\n<p>It&#8217;s not a &#8220;set it and forget it&#8221; type of thing \u2013 you need to keep doing it regularly. Why? Because the market moves fast, and your competitors (probably) aren&#8217;t standing still.<\/p>\n\n\n\n<p>Keeping an eye on your competitors is crucial to keep your strategy relevant and flexible.<\/p>\n\n\n\n<p>How often should you do it?<\/p>\n\n\n\n<p>That depends on your industry and how quickly things shift. But generally, if you conduct a competitive audit quarterly or semi-annually, it should do the job.<\/p>\n\n\n\n<p>The important thing is to make monitoring a regular part of your work. When you do it consistently, it becomes second nature, and your team stays focused, agile, and ready to tackle whatever comes next.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"conclusion\"><strong>Human-led competitive intelligence<\/strong><\/h2>\n\n\n\n<p>Identifying competitors, gathering data, and benchmarking.<\/p>\n\n\n\n<p>That&#8217;s a lot of actions.<\/p>\n\n\n\n<p>You&#8217;ll often end up with a lot of raw data that needs deep interpretation.<\/p>\n\n\n\n<p><strong>If you want deeper context beyond standard competitive audits, you can benefit from <\/strong><a href=\"https:\/\/insights24.com\/\"><strong>Insights24<\/strong><\/a><strong>, our expert competitive analysis service.<\/strong><\/p>\n\n\n\n<p>It&#8217;s designed for businesses that want <strong>human-led, strategic insights that come with ready-to-implement recommendations<\/strong>. It goes beyond tools alone and adds human expert interpretation + strategic context to your competitive research.<\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#eeffee\">&#8211; Comprehensive competitive landscape audits.<br>&#8211; Strategic action plans tailored to your business.<br>&#8211; Expert support and workshops to help teams interpret results.<\/p>\n\n\n\n<p>You can use AI to <strong>generate quick competitive insights<\/strong> from raw data. But if you want <strong>deeper strategic interpretation, human expertise can add value.<\/strong><\/p>\n\n\n\n<p>It&#8217;s translating large-scale mentions into <strong>clear opportunities and risks<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"conclusion\"><strong>Conclusion<\/strong><\/h2>\n\n\n\n<p>A competitive audit is a fantastic way to stay ahead in the market.<\/p>\n\n\n\n<p>It doesn&#8217;t have to be a complex and time-consuming process. AI tools can help you conduct one very well.<\/p>\n\n\n\n<p>Whether you\u2019re analyzing your competitors&#8217; strengths and weaknesses or benchmarking performance -these tools can provide valuable insights without your manual work.<\/p>\n\n\n\n<p><strong>Final thoughts:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>AI tools like Brand Assistant simplify the competitive audit process, saving you time and resources.<\/li>\n\n\n\n<li>Regularly conducting a competitive audit keeps you aware of market trends and competitor moves.<\/li>\n\n\n\n<li>Use the insights to refine your business strategy, improve customer experiences, and strengthen your target market position.<\/li>\n<\/ol>\n\n\n\n<p>So, now you&#8217;re all set to conduct your competitive audit! <a href=\"https:\/\/app.brand24.com\/user\/register-account\/?custom_form=257\" title=\"Try the Brand24 free trial\">Try the Brand24 free trial<\/a> to simplify this task.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Conduct a competitive audit to analyze competitors, find growth opportunities, improve strategies, and strengthen your business\u2019s competitive edge.<\/p>\n","protected":false},"author":82,"featured_media":168337,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[4136],"tags":[],"class_list":["post-168323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-strategy"],"acf":[],"aioseo_notices":[],"cf_author_first_name":"Magdalena","cf_author_last_name":"Sadowska","_links":{"self":[{"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/posts\/168323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/users\/82"}],"replies":[{"embeddable":true,"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/comments?post=168323"}],"version-history":[{"count":14,"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/posts\/168323\/revisions"}],"predecessor-version":[{"id":181439,"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/posts\/168323\/revisions\/181439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/media\/168337"}],"wp:attachment":[{"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/media?parent=168323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/categories?post=168323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brand24.com\/blog\/wp-json\/wp\/v2\/tags?post=168323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}