Example: a diamond mining company has an accident - an oil spill. It is clear that this situation will cause negativity from the local population and environmental activists. In order to formulate a behavior strategy, the company can monitor competitors and their actions in such a case.
What does this information give you: the opportunity to adopt successful solutions, adapt them to your business and find a way out of unforeseen situations.
3. Search for promotion tools and channels
Example : in 2022, the Internet was conquered by Bumagogorsk , a kind project by a young urbanist named Matvey. The boy built a city out of paper and kept its news feed on Telegram. In a couple of days, Bumagogorsk found itself on a wave of hype - many companies used this trend as a reason for collaborations. For example , the Moscow Department of Transport presented the "city" with models of metro cars, Alfa-Bank opened its "office" in it, and S7 launched a new "flight" to Bumagogorsk on the website.
What does this information provide: monitoring the marketing activity of competitors, social networks, statements in electronic media and other actions helps to determine the most effective placement honduras mobile database channels and marketing moves for the target audience. Based on them, the brand can competently develop its strategy.
It turned out great: S7 and Matvey were advertised, and they got a share of attention in this story
It turned out great: S7 and Matvey were advertised, and they got a share of the target audience's attention in this story.
4. Tracking industry discoveries
Example : 20 years ago, few people had heard of stevia and used it as a substitute for sugar. Closer to the 2010s, healthy lifestyles became more popular, and people began to look for alternatives to familiar products. Food companies saw the potential in this and began to produce stevia in various formats and sweets with it. In 2022, the stevia market was estimated at $800 million, and the annual growth is 9.5%.
What does this information provide: industry analysis and news in the field of technology allows you to follow discoveries and changing customer preferences, and offer the market a product with a noticeable advantage.
5. Setting KPIs for the PR department
Example: if your goal is to be more visible than your competitors, to gain an advantage, you can set the KPI as growth of the visibility index and maintaining it at a higher level than your competitors. This requires not just monitoring, but specifically competitor analysis.