Is keeping track of your competitors feeling like a full-time job? Do you often find yourself wishing you had to spend less effort trying to get a feel for what your competitors have been up to?
Thankfully, the tool that will solve your woes exists!
You can get an overview of your competitor’s recent activity in just one click with Panoramata’s competitor update generator.
In this article, we’ll show you how to use this tool so you and your team can speed up your competitive analysis and view your competitor’s actions in one place.
Let’s get started!
How to Generate A Summary of Your Competitor’s Activity in One Click
- What is competitive analysis?
- What are competitor monitoring tools?
- Why you should monitor your competitor’s activity and updatessome text
- Find opportunities your competitors have missed
- Fine-tune your brand’s marketing
- Benchmark your performance
- How you can summarize your competitor’s activity in a single click
- Keep track of your competitor’s activity and sharpen your marketing strategy
- Frequently Asked Questionssome text
- How do you track competitor activity?
- How do you create a competitor analysis report?
- How do you measure competitor activity?
What is competitive analysis?
First, we have to talk about what competitive analysis is and why you need it for your business.
Competitive analysis is the process of researching your competitors and comparing them to your company to assess your performance.
This process also lets you know your competitor’s strengths and weaknesses and how to take advantage of them so you can improve and outperform them.
You can also use competitor monitoring tools to automate the actions involved when doing competitive analysis.
What are competitor monitoring tools?
Competitor monitoring tools assist businesses with monitoring their competitors’ activity, including but not limited to their ads, social media, and email newsletters.
You don’t have to skim through dozens of post just to get the gist of what they’ve been up to recently. With Panoramata’s generator, you can get an accurate summary in mere seconds.
Competitor analysis tools do the heavy lifting for you when you want to conduct a thorough and fact-based analysis. The data they gather will be more accurate than if you were to gather this information on your own.
Examples of competitive analysis tools include Semrush, Ahrefs, and SimilarWeb.
Why you should monitor your competitor’s activity and updates
If you aren’t keeping track of your competitors yet, it’s not too late to start. Here’s why this should be part of your to do list as a brand.
Find opportunities your competitors have missed
One of the most useful things you can do with competitive analysis is to stay ahead of your competitors and take opportunities that they might not have noticed.
For example, you might find out that there’s a demand for a product that you and your competitor isn’t offering yet.
You can then take steps to develop a product that will fulfill that need and capitalize on it before your competitor does.
Fine-tune your brand’s marketing
Ecommerce brands need to stay abreast of the latest trends in the marketplace to stay relevant.
When you conduct competitive analysis, you can quickly identify what products are in demand, what pricing strategies work, what your market responds to, and what marketing tactics to explore.
Benchmark your performance
Do you know how your brand is faring compared to your competitors?
With competitive analysis, you won’t be left wondering if you’re being left in the dust. Benchmarks will tell you specifically what areas you need to focus on.
How you can summarize your competitor’s activity in a single click
First, go to Brands Search and type in your competitor’s name on the search bar.
Click the competitor’s name from the search results. You will then be taken to their brand page.
In the summary tab, you can see “Summarize [brand] recent updates]” next to a lightbulb icon.
Click on the button. Wait for a few seconds while it generates a summary.
It will then post the summary of the brand’s activity in the last 14 days. The summary will include:
- The focus of their recent marketing actions
- Number of emails sent
- Number of ads
- The content of their promotions
- The subject lines of their emails
It’s that quick!
Keep track of your competitor’s activity and sharpen your marketing strategy
As you can see above, monitoring your competitors can be as easy as pie.
You don’t have to skim through dozens of posts just to get the gist of what they’ve been up to recently.
With Panoramata’s generator, you can get an accurate summary in mere seconds. It’s a game-changer for competitive analysis!
That being said, don’t forget to regularly check on your competitors as competitor monitoring is an ongoing process, not a one-off thing. You’ll be outpacing your peers in no time.
Frequently Asked Questions
How do you track competitor activity?
There are many ways to monitor your competitor such as buying their product, conducting market research, checking their website and social media platforms, and reading customer reviews.
You can also use competitor tracking tools like Panoramata to simplify this process.
How do you create a competitor analysis report?
To make a competitor analysis report, you first have to conduct research into your competitor and your market to identify trends and customer personas.
Then, based on the information you’ve gathered, you can analyze the data and use a matrix to present your conclusions.
How do you measure competitor activity?
To measure competitor activity, you can use metrics like organic traffic, prices, number of ads, social media followers, search rankings, domain authority, and engagement rate.
