Competitor Product Analysis: Tracking Ratings & Market Gaps

Enhanced Prompt for Competitor Analysis in Advanced Digital Marketing

Overview: Develop a comprehensive strategy for analyzing competitor product ratings and reviews to identify market gaps and gain strategic insights. This prompt aims to guide you through a structured approach, ensuring actionable results and scalability.

Objectives:

1. Identify and analyze competitor product ratings and reviews to uncover market gaps.
2. Develop actionable insights into competitor strategies and customer feedback.
3. Create a robust reporting system for tracking changes in competitor product placement.
4. Provide recommendations for enhancing brand positioning and market entry strategies.

Deliverables:

• Detailed competitor analysis report with metrics like average ratings and review counts per competitor.
• Dashboard for real-time monitoring of competitor product performance.
• Strategic recommendations based on competitive insights.
• Continuous monitoring strategy for updates and trend analysis.

Best Practices:

1. Data Collection:

   • Utilize Google My Business API to access competitor product reviews.
   • Extract competitor product listings using structured data (JSON-LD).
   • Collect competitor-specific metrics such as average ratings, number of reviews, and user sentiment.

2. Analysis Techniques:

   • Implement A/B testing for ad effectiveness to analyze competitor ad performance.
   • Use sentiment analysis on reviews to gauge customer satisfaction and pain points.
   • Analyze competitor product features and pricing to identify opportunities for differentiation.

3. Process Automation:

   • Employ automated review scanners using bot tools like Selenium or Scrap