--- title: "Doing Your Due Diligence: Why It Pays To Get To Know Your Competition" description: Explore how to get to know your competition through a competitive analysis, some tools that can give you an edge, and how to put your newfound insights into action. image: https://www.wildfigcmo.com/hubfs/Blog/Due%20Dilligence2.jpg --- [Skip to content](https://www.wildfigcmo.com/level-up-resources/doing-your-due-diligence-why-it-pays-to-get-to-know-your-competition#main-content) [![WFM-CMO-4PurpBckgrnd-Horiz](https://www.wildfigcmo.com/hs-fs/hubfs/CMO%20Logos/WFM-CMO-4PurpBckgrnd-Horiz.png?width=1410&height=564&name=WFM-CMO-4PurpBckgrnd-Horiz.png) ![main wild fig logo horizontal](https://www.wildfigcmo.com/hs-fs/hubfs/CMO%20Logos/WFM-Primary%20CMO%20Horiz.png?width=1409&height=538&name=WFM-Primary%20CMO%20Horiz.png)](https://www.wildfigcmo.com) [Schedule a Discovery Call](https://www.wildfigcmo.com/contact) - [Home](https://www.wildfigcmo.com) - [About](https://www.wildfigcmo.com/about) - [Services](https://www.wildfigcmo.com/services) - [Level-Up Resources](https://www.wildfigcmo.com/level-up-resources) ###### 6 min read # Doing Your Due Diligence: Why It Pays To Get To Know Your Competition By: [Kari Switala](https://www.wildfigcmo.com/level-up-resources/author/kari-switala) on Oct 20, 2025 10:00:00 AM [Fractional CMO](https://www.wildfigcmo.com/level-up-resources/tag/fractional-cmo) ![Featured Image](https://www.wildfigcmo.com/hubfs/Blog/Due%20Dilligence2.jpg) Think you know what makes your business stand out?  Before you pat yourself on the back, answer one question: Do you *really* know what your competition is up to? Understanding your competition is a crucial component of understanding your own place in the market. It can help you spot new opportunities for growth and ensure your business stays a step ahead. Enter, stage left: **Competitive analysis.**  Competitive analysis involves doing research to identify your competitors and compare their strengths and weaknesses with your own. This research can highlight market trends, gaps in your marketing plan, future threats to your business, and opportunities for growth. It will also give you a better idea of all the options a potential customer has when they’re considering the type of product or service you offer.  **In short, gathering this data will help you better position your company for success.** Let’s explore how to get to know your competition through a competitive analysis, some tools that can give you an edge, and how to put your newfound insights into action. ![woman hiking](https://www.wildfigcmo.com/hs-fs/hubfs/Blog/woman%20hiking.jpeg?width=900&height=600&name=woman%20hiking.jpeg) ## Determine Who Your Competitors Are The first part of any competitive analysis is to determine who your competitors are. There are two main types of competitors to consider: - **Direct competitors** are the easiest to identify because they sell the same products or offer the same services you do and target the same market. - **Indirect competitors** either compete for the same market but offer slightly different products or services or sell similar products but target a different audience. Ideally, you want to put together a list of 5-10 of your closest competitors, including a mix of both direct and indirect ones.  To find your competitors, the best place to start is to do a simple Google search for your product or service in your area. The top results are likely to be your biggest competitors…but not always. Look through the list of search results and consider which companies offer products or services that are most similar to yours, as well as which are after the same type of customer.  Once you have your list of competitors, keep track of them in a spreadsheet. For each company, include details like: - Direct or indirect competitor - Company name - Service area - Website address - Social media sites - Other marketing channels - Value proposition - Promotional events - Product pricing From there, continue to track what your list of competitors is doing over time (promotions, marketing campaigns, pricing changes, etc). Gathering this data will give you a better idea of where you stand in the market.  ![magnifying glass](https://www.wildfigcmo.com/hs-fs/hubfs/Blog/magnifying%20glass.jpeg?width=900&height=600&name=magnifying%20glass.jpeg) ## Examine Your Competitors: What Do They Do Differently? Now that you’ve compiled some basic information on the competitors you want to analyze, it’s time to dig deeper: - What do your competitors do the same as you?  - What do they do differently?  - What marketing platforms do they use?  - What language do they use to talk about their products?  - How does their pricing structure compare to yours?  - How do customers rate their products and customer service? You’re looking for both what your competition does *better* than you and what they do *worse*. When comparing your **products or services** to those of your competitors, your analysis should break down each product/service feature by feature (including price, quality, target audience, ease of use, design, etc.) As you look at the kinds of **marketing campaigns and strategies** your competitors use, consider their: - [Social media posts](https://www.wildfigmarketing.com/blog/a-beginners-guide-to-creating-a-social-media-content-calendar) and campaigns - Website copy, including [blogs](https://www.wildfigmarketing.com/blog/the-5-best-blog-types-for-boosting-your-website-traffic), guides, and whitepapers - Paid ads (Google, Facebook, etc) - Press releases - Product description copy What story are they telling through these platforms? What audience are they targeting, and what value do they bring to that audience? How do they interact with customers and prospects online? Also consider the [user experience](https://www.wildfigmarketing.com/blog/build-a-better-website-6-ux-design-principles-to-inform-your-website-design) they provide on their website. Is it easy to navigate? Do they clearly communicate what products or services they offer? Is their content well-written, up-to-date, and, most importantly, helpful? Finally, examine their **customer reviews and social media comments** to see what people are saying about them online**.**  As you look through these aspects of each competitor’s business, ***pay close attention to what they do well that you aren’t currently doing, and vice versa: what they aren’t doing that you can do well.***This will highlight potential opportunities for you to get ahead in the market. ![search bar](https://www.wildfigcmo.com/hs-fs/hubfs/Blog/search%20bar.jpeg?width=900&height=471&name=search%20bar.jpeg) ## Competitive Analysis Tools and Strategies Not sure where to start gathering all this information? Here are several tools and strategies you can use to research your competitors. (Bonus: most of them are free!) - Do a **Google search** - Set up a [Google Alert](https://www.google.com/alerts) - Search [Google Trends](https://trends.google.com/trends/) - Look through their **website** - Follow them on all **social media platforms** - Sign up for their **email list** - Follow their **blog** (and read the comments!) - Study their **promotional materials**: ads, brochures, etc.  - Visit their **brick-and-mortar** location  - Buy one of their **products** - Read their **online reviews** (Yelp, Google Reviews, Facebook) - Talk with **customers** (why did they pick this company?) - Talk with **former customers** (why did they switch?) - Talk to their **suppliers** (what are they purchasing?) - Attend **industry seminars**, conferences, expos, and networking events - Look up their **Better Business Bureau** rating - Use SEO tools like [Ahrefs](https://ahrefs.com/) and [SEMrush](https://www.semrush.com/) to analyze their website - Use [Facebook Page Transparency](https://www.facebook.com/help/323314944866264/) to see what ad campaigns they’re running - On **LinkedIn**, look at the jobs they’re hiring for and who they’re hiring These tools can give you valuable information about how your competitors communicate, what they value, what their products are like, what customers are saying, and even what SEO keywords they’re targeting and who their employees are.  And this is just the tip of the iceberg!  There are SO many ways to gather information about your competitors, both online and off. Honestly, if you were that kid who wanted to be a spy, you’re going to LOVE doing competitive research! ## Put Your Insights Into Action: What Improvements Can You Make? Now that you have all this juicy info about your competitors, it’s time to put it into action. Use what you’ve learned to better understand where you sit in the market and brainstorm improvements you can make to your: - Products or services - Positioning in the market - [Audience targeting](https://www.wildfigmarketing.com/blog/why-are-buyer-personas-important) - Marketing campaigns Your competitive analysis should highlight at least one area where you can make improvements. This information is GOLD: It can help you discover gaps in your marketing so you can more strategically target your efforts. From here, make competitive research a regular part of your marketing strategy. Continually monitoring your competition will help you stay ahead and offer greater value to your customers. ## Want To Get Ahead? Let’s Do This Together Ready to get to know your competition, see how your business stacks up, and learn where you can get ahead? Let’s chat! At Wild Fig, we offer half-day marketing strategy sessions—the perfect tool for uncovering competitive insights and building a customized marketing strategy to help you achieve your goals. [Schedule an exploratory call today](https://meetings.hubspot.com/kari21?hsCtaAttrib=189325472036&uuid=e69f5e04-3e0f-4fe6-af93-0603791b476e) to see if a half-day marketing strategy session is right for you. Let’s take the guesswork out of growth and help you outsmart the competition! - [Tweet](https://twitter.com/share) ## [5 Benefits of Hiring a Fractional CMO for Your Business](https://www.wildfigcmo.com/level-up-resources/5-benefits-of-hiring-a-fractional-cmo-for-your-business) Do you have a small-to-medium-sized business or startup, with no marketing lead on staff? Are you... ## [Are You Responsible for Medical Clinic Marketing? Utilize Email Marketing To Increase Awareness of Your Services!](https://www.wildfigcmo.com/level-up-resources/responsible-for-medical-clinic-marketing-boost-awareness-with-email) In today’s fast-paced healthcare environment, keeping your patients informed—and engaged—requires... ## [Fractional CMO Services for Small Clinics & Rural Hospitals: A Case Study](https://www.wildfigcmo.com/level-up-resources/fractional-cmo-services-for-small-clinics-rural-hospitals-a-case-study) As a fractional CMO, I know how valuable a trusted marketing leader can be to an organization, and... [![WFM-CMO-WHITE Horiz](https://www.wildfigcmo.com/hubfs/CMO%20Logos/WFM-CMO-WHITE%20Horiz.png)](https://www.wildfigcmo.com) - [Contact Us](https://www.wildfigcmo.com/contact) - [Services](https://www.wildfigcmo.com/services) © 2026 Wild Fig Marketing, Inc. ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Kari Switala", "url" : "https://www.wildfigcmo.com/level-up-resources/author/kari-switala" }, "dateModified" : "2026-02-25T16:37:04.278Z", "datePublished" : "2025-10-20T15:00:00.000Z", "headline" : "Doing Your Due Diligence: Why It Pays To Get To Know Your Competition", "image" : [ "https://www.wildfigcmo.com/hubfs/Blog/Due%20Dilligence2.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.wildfigcmo.com/level-up-resources/doing-your-due-diligence-why-it-pays-to-get-to-know-your-competition", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.wildfigcmo.com/hubfs/CMO%20Logos/WFM-Primary%20CMO%20Horiz.png" } } } ```