In my work with large companies one question arises consistently: Who should we be watching? Who are the companies to watch and benchmark our social media metrics against? A common mistake brands have with their social media strategy and competitive analysis, is keeping an eye on the wrong companies--because your greatest insight does not always come from your direct competitors.
A competitor analysis provides you with the knowledge to make an informed decision on what aspect of your company gives you a competitive edge.The customer is your judge, and they have done their research. So should you.
"Keep your friends close, and your enemies even closer." This is one of the most famous quotes of Sun Tsu, the ancient Chinese military general. Know your enemies even better than your friends, because in battle, knowing your enemy’s strategies and next moves provides the ability to launch a preemptive strike or at least to plan counter strategies to their next move on the battlefield.