How to do a competitor analysis
Access to your competitors’ customer feedback insights allows you to benchmark your relative performance and develop a deep understanding of your market as a whole. Your competitors’ customers are your most likely prospects.
Competitor analysis with BirdEye
The BirdEye platform gives you access the same level of insights into your competitors’ customer feedback that you have into your own. Compare performance against your top industry or local competitors to identify relative strengths and weaknesses.
With BirdEye’s competitor analysis, you can benchmark:
Ratings: Analyze your competitors’ online reputations with detailed reports of their ratings by review source, over time, and by location.
Net Promoter Score (NPS): Measure customer sentiment and distribution of Promoters, Detractors and Passives by tracking NPS trends over time for both you and your competitors. Compare against one competitor at a time or all at once to evaluate your industry ranking.
Business insights: Dive beneath star ratings with Natural Language Processing (NLP) insights and uncover trending positive and negative topics mentioned by your customers and your competitors’ customers.
Benefits of competitor analysis
Customers today have higher expectations than ever, and simply being “good” is not enough to win new customers. You have to be the best. With competitor analysis, you can:
Learn what your competitors are doing well and find ways to replicate their strengths in your own business operations.
Use your competitors’ negative customer feedback to spot potential pain points within your own customer base, then offer proactive customer service to prevent the same problems occurring in your own business.
Measure the impact your customer experience improvements have had by continuously monitoring your competitors’ scores alongside your own.