Knowledge in Action: Competitor Analysis in Practice

3 Ways to Turn Analysis into Action

Too often, competitor analysis ends as a passive document. But done right, it becomes a strategic compass. Here are three practical ways to turn insights into action even with limited resources.  Over the course of these steps, you may want to create a list of the actions you can suggest, based on:

• Priority
• Cost
• Ease of Implementation

1. Analyse Industry’s Minimum Standard

Identify what your competitors do, the channels and the language they use. At its essence, we are looking for the minimum industry standard practices.

Example of our experience:

We analysed a small language school that has been working for a few years. By analysing competitors, their websites, searching their names in Google, and keyphrases, we discovered that the main competitors are using education directories as a channel to attract students. We provided a list of potential directories that they can join (even for free!) and suggested that to look for other similar platforms.

2. Use Reverse Benchmarking

Rather than copying what competitors do best, identify what they do poorly or inconsistently. This is where you can differentiate, or as Roy Sutherland put it: “Getting attention by surprise”.

3. Speculate Future Strategies

Competitor analysis isn’t just about what’s happening now; it’s also about anticipating what’s coming next. While we can’t predict every move, we can make strategic assumptions by examining public signals and patterns.

Clues to Look For:

• Content themes in blog posts or webinars

• Shifts in messaging or product language

• Hiring patterns (e.g., new roles in sales or R&D)

• Partnership announcements

• Keyword shifts in SEO tools (e.g., rising focus on a new segment)

These insights help you anticipate where the competitor is heading, allowing you to incorporate those into the company’s strategy.

Example:

Let’s say we want to analyse Competitors’ Digital Marketing strategy. Using tools like SEMrush, SimilarWeb, Buzzsumo, and Moz (even for free!) we can find out the keywords that competitors are ranked for. By comparing the top keyphrases across competitors, we can have a short list of “minimum standards”. Additionally, we can find the gaps in keyphrases and add them to the list as “reverse benchmarking”.
Further, by visiting the competitors’ recent blog posts, we might observe a shift in their strategy. The above-mentioned tools provide historical data, or “for what keyphrases the competitor is ranked for already” and their communications (blog, social media posts) may signal their next move.