Competitive audit

A competitive audit allows you to track your competitors, understand their approach, and figure out what your brand might be missing out on. The aim is to discover what works for other companies in your industry and incorporate those strategies for your brand to gain a competitive edge.

1. Why are competitive audits important?
2. What can you learn from a competitive audit?
3. How long does a competitive audit take?

Why are competitive audits important?

Benefits of a competitive audit

Conducting a competitive audit is a foundational tactic to better understand what your competitors are doing and the threat they may pose to your brand. It also offers insights into who they are, their strategy, and what your brand may be missing out on.

What can you learn from a competitive audit?

A competitive analysis can help you learn the ins and outs of how your competition works, and identify potential opportunities where you can out-perform them.

How long does a competitive audit take?

Time: An audit can take four to six weeks and 100 or more hours, on average. Tools: The right tools can significantly increase efficiency. For example, a crawler, such as Screaming Frog, makes collecting competitor data exponentially less arduous and offers data to back up your observations.