We constantly release new features to provide our customers with the best-in-class software solutions and here we would like to share some of them with you. The feature that was recently released and that we would like to talk about is Competitive Analysis. Basically, on our platform, you have two options to run competitive analysis: either by creating a project with competitors’ locations or by using a feature competitive analysis. Let’s start with the feature.
This feature allows businesses to get insights on how their competitors in the same business categories are doing on online maps. You can analyze your competitors in the 5 miles radius, check their reviews and know if they are working with them, and how high they are ranking.
In addition to that you can run a more detailed competitive analysis based on sentiment analysis of their reviews and keywords.
All of that information can be compared with your business, so you can find out what’s your advantage and what still should be improved. Then you can also group your competitors by various parameters, such as brand, that should help to structure and better assess new data.
On the competitor analysis picture you can see your place in local search results. That’s actually how clients will see it as well, while looking for your business in search engines. As you can see, they will choose a business based on a few factors such as ratings, reviews, distance and visual appearance. All of these insights could help you to answer the following questions:
- How many competitors do you have in a specific town/city/village? Is the market highly competitive or you are a stand-alone monopolist? Most probably not.
- Are there some new emerging rivals that you don’t know about?
- How your competitors are present on the map in a specific location?
- How many reviews your competitors have and if they work with them?
- What’s mostly being told about your competitors. Are customers extremely happy about some specific services? Maybe you’re missing these services and your business also should provide them.
- Are clients extremely dissatisfied with something specific? Maybe you also should work on it.
- What keywords are being used by people while they are chatting about your business category?
In addition to that you can analyze specific competitors not only by using the feature competitor analysis. You can create a new project and group their locations by specific country, region, and city. You can further analyze their publicly available data, such as: reviews, ratings, information accuracy, completeness and run semantic analysis of reviews. Analyzing competitors from 2 different perspectives (by using the Competitive Analysis feature directly and creating a project) you can get insights.
As you can see, you can get lots of insights from Competetive Analysis. This feature is completely free, so you can play around with it and let us know what you think.
