What is competitor mapping? How do you do it?


For market and keyword research, new enterprises frequently resort to competitor analysis.

Many new organizations, however, struggle to derive much value from competitor analysis because they frequently do not track the necessary factors or understand how to analyze their data.

What is competitor mapping?

Competitor mapping is a competitive market analysis process that visualizes the link between two or more variables to assist organizations in identifying a competitive advantage.

For example, when releasing a new product or service, competitor mapping can be used to identify the link between the product's price and perceived benefit.

Some examples of competitor maps include:

Scatter graphs.

Comparison charts.

Bar graphs.

Line graphs.

Gannt charts.

Pie charts.

Benefits of competitor mapping

Competitor mapping can help you:

Determine which aspects of your business need to be improved.

Make data more easily shareable and digestible by visualizing it.

Discover opportunities to exploit rival weaknesses.

Validate your one-of-a-kind selling offer (USP).

Set goals for future growth and development.

Analyze the link between several variables to find the ideal equilibrium for the introduction of a new product (e.g., price-benefit value).

Determine any unexpected launch impediments.

Learn more about your customers', rivals', and goods' relationships.

Determine which locations are not supplied by rivals (e.g., market or location maps).

Implement market expansion strategies.

Building a competitor map

Identify your competitors

Decide which areas of your business need deeper analysis

Choose which variables to track

Visualise data

Highlight areas for improvement

Overall, competitor mapping is a simple process, and there are numerous tools available to help you create or automate your competitor map.

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