Media monitoring helps to spot trends, topics or changes in the media space, so that you stay informed.
Competitor benchmarking is similar but more focussed on drawing insights from identified competitors specifically.
By monitoring them in the media, you get to see their performance, reputation, strategy and success rate.
Competitor analysis from this standpoint allows you to fill in the gaps and provide solutions where your competitors are not — based on gaps identified by shared target audiences in the media.
So, that’s what it is, but read further to find out
How you can benefit from competitor analysis.*Image courtesy of Canva