How to Do A Competitive Strength AssessmentHow to Do A Competitive Strength Assessment
Join 28,724 marketers getting free marketing resources and trends
Receive exclusive playbooks, swipe files, event invites & must reads. Join 28k+ subscribers, 61% are opening our emails every week.
"The only newsletter I'm forwarding every time."

Harnessing your strengths is vital in running a business or growing your brand. However, your company doesn’t exist in a silo–you have to consider your competitor’s strengths, too, to get the full picture of your market landscape. 

How do you go about this? Good news: it’s not rocket science and we’re here to help. 

In this article, we’ll explore what a competitive assessment entails and how you can execute this for your business. Whatever your goals, you will benefit from a competitor analysis (we guarantee it). Without further ado, let’s dive in.

Track your competitors today

Join +2k brands and get started for free

What is a competitive strength assessment?

A competitive strength assessment is the process of determining how your main competitors are performing and comparing it to your performance using KPIs

It helps you evaluate your competitors' strategies, strengths, and weaknesses, enabling you to refine your own.

What are the benefits of a competitive strength assessment?

Conducting a competitive strength assessment has several advantages that can directly impact your business strategy and outcomes.

competitive strength assessment advantages

Make Good Decisions

Data-driven decisions are the backbone of successful businesses. A competitive strength assessment equips you with actionable insights about your competitors’ performance, helping you identify what works and what doesn’t. 

For example, if a competitor's PPC campaign is outperforming yours, the assessment can reveal why and how you can adjust.

Seize Opportunities

By understanding your competitors’ weaknesses and gaps, you can position your brand to fill those voids.

For instance, if competitors struggle with customer retention, you can focus on loyalty programs or better customer support. This allows you to capitalize on untapped opportunities and gain an edge.

Benchmark Your Performance

A competitive strength assessment helps you compare your performance against industry standards and competitors.

Whether it's sales metrics, website traffic, or email engagement, benchmarking helps you understand where you stand and what areas need improvement.

Track your competitors today

Join +2k brands and get started for free

What to include in a competitive strength assessment 

A thorough assessment starts with including the right elements. Here’s what you should focus on:

Competitor Profile

Start by creating a profile for each competitor. Include key details such as:

  • Company size and market share
  • Product offerings and pricing
  • Marketing channels they use
  • Customer demographics

This foundational step provides a clear understanding of who you’re competing against.

Data-driven decisions are the backbone of successful businesses. A competitive strength assessment equips you with actionable insights about your competitors’ performance, helping you identify what works and what doesn’t. 

SWOT Analysis

A SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) is crucial for identifying where your competitors excel and where they fall short.

For example, a competitor’s strength might be a loyal customer base, while their weakness could be outdated technology. Use this to highlight areas where you can outperform them.

Competitor Data

Collect detailed data on competitors' activities across various channels, such as:

  • Website performance (traffic, SEO rankings)
  • Advertising strategies (ad spend, platforms used)
  • Email marketing (subject lines, frequency, and design)
  • Social media engagement (followers, interaction rates)

Tools like Panoramata can simplify this process by providing real-time data on ads, emails, and websites.

panoramata real-time competitor tracking platform
Track your competitors today

Join +2k brands and get started for free

Customer Sentiment

Understanding how customers perceive your competitors is invaluable. Look at reviews, social media mentions, and forums to gauge customer satisfaction and pain points.

How to do a competitive strength assessment in marketing

Now that you know what to include, let’s break down the steps to conduct a competitive strength assessment in marketing.

competitive strength assessment how to guide

Step 1: Identify Your Key Competitors

List your direct and indirect competitors. Direct competitors are those offering similar products or services to the same audience, while indirect competitors target overlapping audiences with different offerings.

For example, if you’re a SaaS company providing project management tools, direct competitors might include Asana and Trello, while indirect competitors could be Google Workspace.

Step 2: Gather Data Across Channels

Use tools like Panoramata, Similarweb, Spyfu, and Semrush to collect data on your competitors' marketing strategies. Focus on areas such as:

  • Organic keywords they rank for
  • PPC campaigns and ad copy
  • Social media content and performance
  • Email marketing campaigns

For instance, if a competitor's social media posts consistently get high engagement, analyze their tone, visuals, and posting frequency to learn what resonates with their audience.

Step 3: Perform a SWOT Analysis

Evaluate each competitor’s strengths, weaknesses, opportunities, and threats. For example:

Strengths: High SEO rankings, innovative products

Weaknesses: Low email open rates, poor customer service

Opportunities: Untapped social media platforms, emerging market trends

Threats: New market entrants, economic downturn

Track your competitors today

Join +2k brands and get started for free

Step 4: Benchmark Your Performance

Compare your performance against competitors using the collected data.

benchmark competitors with panoramata

This might include:

  • Website traffic: Are they attracting more visitors?
  • Conversion rates: Are their ads driving more sales?
  • Content engagement: Is their blog or email newsletter generating more interest?

For example, if a competitor has higher conversion rates, investigate their landing page design, CTAs, and pricing strategies.

Step 5: Develop an Actionable Plan

Based on your findings, create a plan to address weaknesses and leverage opportunities.

If your analysis reveals competitors are outperforming you in social media engagement, consider adopting similar strategies like interactive posts or influencer collaborations.

Step 6: Monitor Progress Continuously

A competitive strength assessment isn’t a one-time exercise. Use a tool like Panoramata to track competitors’ changes in real-time, ensuring you stay updated on their latest moves.

Supercharge your competitive advantage with Panoramata

A competitive strength assessment is a powerful way to sharpen your marketing strategy and outpace competitors. By making informed decisions, seizing opportunities, and benchmarking your performance, you can build a strategy rooted in data and insights.

Including essential components like competitor profiles, SWOT analyses, and customer sentiment ensures your assessment is comprehensive. Following a structured process—identifying competitors, gathering data, performing analyses, and developing actionable plans—keeps your business agile and competitive.

For an all-in-one solution, consider tools like Panoramata to streamline competitor tracking and ensure you never miss an opportunity. Staying one step ahead starts with understanding the strengths and weaknesses of the competition—and using that knowledge to your advantage.

Track your competitors today

Join +2k brands and get started for free

Frequently Asked Questions

1. What is a competitive strength assessment?

A competitive strength assessment is a process of evaluating your competitors’ strengths, weaknesses, and strategies to identify opportunities and refine your approach. It helps you make better decisions, benchmark your performance, and gain a competitive edge in your market.

2. How often should I conduct a competitive strength assessment?

Ideally, you should review your competitors weekly to stay updated on their strategies and market trends. For industries with frequent changes, daily tracking may be more beneficial.

3. What tools can help with a competitive strength assessment?

Tools like Panoramata can simplify the process by providing data on competitors’ ads, keywords, emails, and more. Choose a tool based on your specific needs, such as SEO insights or real-time competitor monitoring.

Competitor Tracking Calculator

Competitors tracked: 10

You want to track:

Using Panoramata, you could save:

Hours per month: 65 hours
Other softwares cost: $760

Track your competitors automatically

Join +2k brands and get started for free

Mehdi Boufous
Here to help you save time, track your competitors and take better decisions to beat your competitors.
Track & compare your competitors easily

✓ Track emails, ads and landing pages
✓ Compare strategies and take better decisions
✓ Sparkle new ideas, save time and grow revenue

Get started now →
★★★★★

"It's crazy good and easy to use, we can track everything! I feel like a Sherlock Holmes for emails, ads & landings"

What you should do now

Whenever you're ready, there are three ways we can help you gain insights about your competitors and improve your own marketing strategy:

1. Claim your Free Competitors' Analysis. 

If you'd like to work with us to make sure you can effectively track your competitors and automatically get actionable insights, claim your Free Competitors' Analysis Presentation. We'll review your competitor landscape, highlight the main insights you should consider, and suggest best practices in your market you should implement.


2. If you're like to learn the exact ways you could improve your marketing strategy.

Go to our blog, where you can download swipe files, playbooks and templates you can apply to your own company. For instance, you can download 104 email marketing ideas, our master marketing swipe file, and our SWOT analysis templates.

3. Ready to start tracking your competitors automatically?

Get started on Panoramata for free today: sign up here and in a few minutes, you'll be able to monitor all your competitors' emails, ads, landing pages, websites changes, SMS, etc. You'll also be able to find the perfect marketing inspiration every time and get actionable insights.

Mentioned brands

No items found.

With Panoramata, track brands in one single platform

Finally monitor automatically your e-commerce competitors' digital marketing strategy and access unlimited inspiration. Go beyond their social networks to track your competitors: newsletters, flows, ads, landing pages, SMS, tech stack and much more. Save more than 20 hours/mo.
Get Started for Free

1 minute signup, no Credit Card required

mehdi, founder of panoramata
Book a Demo

with Mehdi, our founder

★★★★★

"I'msaving a day a week.
I don't miss anything anymore and don't have to think about tracking competitors."
★★★★★

"It's crazy good and easy to use, we can track everything! I feel like a Sherlock Holmes for emails, ads & landings"
★★★★★

"It's way easier to plan my content calendareven for events such as Christmas or Black Friday"

See how Panoramata works:

What our customers say

Join 1,000+ brands and ecommerce agencies & start tracking your competitors instantly in one place.
"I wish I knew this existed before"
"Best investment so far"
"Incredible benchmarks"
"Got
5 wow moments
instantly!"
"I'm saving a day a week"
"I wish I knew this existed before"
"Best investment so far"
"Incredible benchmarks"
"Got
5 wow moments
instantly!"
"I'm saving a day a week"
"It's
Ads Libraries x Email Marketing x Pinterest
, all in one"
"It's been a lifesaver"
"Just filled my todo with
awesome ideas
in 5'"
"I know
what my competitors are doing
in 30s"
"We offer much more value to our clients"
"It's
Ads Libraries x Email Marketing x Pinterest
, all in one"
"It's been a lifesaver"
"Just filled my todo with
awesome ideas
in 5'"
"I know
what my competitors are doing
in 30s"
"We offer much more value to our clients"
"Saves me hours!"
"It's incredible
how much things I learned
on competitors"
"I can see it had been built for me"
"It's so easy to
find the perfect example
"
"I feel so much better"
"Saves me hours!"
"It's incredible
how much things I learned
on competitors"
"I can see it had been built for me"
"It's so easy to
find the perfect example
"
"I feel so much better"