Get to Know Your Competition: 5 Easy Steps to Conduct Market Research & Create a Competitive Analysis
As a small business in travel and tourism, action sports, or outdoor recreation, how do you know what your competitors are up to? You need to start by understanding the landscape- not just the literal one your customers explore, but the competitive landscape for your product or services.
Conducting market research and doing a competitive analysis might seem daunting. However, in this blog, we’re walking you through 5 easy steps to conduct market research and create a competitive analysis. Here are the 5 Steps we’ll cover to help you craft better marketing strategies:
- How to Examine Competitor’s Customer Reviews
- Analyzing a Competitor’s Messaging and Branding
- Studying Your Competitor’s Social Media and Digital Marketing Channels
- How to Monitor Brand Engagement
- How Attending Industry Events and Tradeshows Can Help You Spy on the Competition
Why Perform Market Research?
From email marketing to paid ads, we can teach you all the tricks to be strategic with your marketing efforts. However, it’s often time spent getting to know the demographic you’re targeting, and what your competitors are up to that will give you an edge. Standing out isn’t just about having a great product or destination. By performing market research and studying your competitors, you gain insights that allow you to differentiate your brand, anticipate trends, and meet your audience’s needs better than anyone else!
Here are 5 actionable ways to analyze your competition and examples of how travel, tourism, and outdoor industry brands can apply these strategies effectively!
1. Examine Competitor’s Customer Reviews as Part of Your Market Research
Online reviews are a key aspect of market research as they provide a goldmine of information about what customers love and dislike about your competitors. Pay attention to recurring praises and complaints—these highlight strengths to emulate and weaknesses to avoid or capitalize on.
Where to Look for Your Competitor’s Product Reviews
- Google Reviews
- Reviews on their website
- Yelp Reviews
- Trip Advisor, Viator, Hotels.com, Airbnb, and other review sites
- Industry Publications and Journalists
Example #1: An adventure travel company might read competitor reviews and find frequent complaints about slow or unclear check-in processes. By streamlining your check-in experience through digital tools or concierge services, you can promote “hassle-free tours or vacations” as a key differentiator.
Example #2: Glowing reviews about your competitor’s tour guides being exceptionally knowledgeable could inspire your creation of a quarterly team training to ensure your team matches or exceeds the standards!
Ask the Locals
Lastly, you can get reviews of your competitor’s products or services firsthand from locals in the particular region you operate in or are targeting. How do you do this? Rent mountain bikes at the local bike shop. Pick up a guidebook at a gear or tackle shop. While at the shop, ask for recommendations on the staff’s favorite gear, what tour operators are in the area, best hotels nearby…whatever space you play in, get some feedback on what they like and what sells.
Trip Advisor and Yelp will show you competitors’ reviews, but the locals will give you better feedback!
Horseback riding across the high windswept plains in Cotopaxi National Park was a breeze thanks to the team at Tambopaxi Lodge! They brought us gloves, ponchos, a guide, and two horses right to our accommodations all for $40US dollars per person for a 90-minute ride. 5 stars for hassle-free day trips and activities!
2. Analyze Competitor’s Messaging and Branding as part of your Market Research
What tone and messaging do your competitors use? Are they adventurous and bold, family-friendly, or luxurious? Understanding how your competitors position themselves helps you find opportunities to carve out a unique voice in your industry.
Here are a few ways to become more familiar with your competitor’s messaging and branding
- Sign up for their Email Newsletter and read it
- Use SEO tools like SEM Rush
- View their Website
Example #1: As an outdoor gear or adventure travel provider, you might discover that competitors market rugged, extreme adventures in their blogs and emails. To stand apart, focus on the casual outdoor enthusiasts by emphasizing ‘comfort’, ‘accessibility’, and products or tours that are ‘beginner-friendly’. A tagline like “Adventure Made Easy” can resonate with a less intense, yet substantial market segment!
Example #2: We work with a client in the avalanche education space and we noticed that so many people cross through the backcountry gates at resorts like Vail and Park City, yet do not have avalanche safety gear. We then conducted some market research and found that Black Diamond, Patagonia, Salomon, and Burton…all these outdoor brands make gear for backcountry adventures yet offer no avalanche education piece to go with it. We decided to get educated, took an Avalanche Education Class, and then wrote a blog on how to stay safe while traveling in avalanche terrain. In addition, we supported our clients at the American Avalanche Institute by helping them create educational videos, blogs, and Instagram Live pieces for backcountry travelers.
Invest some time getting to know what messaging and branding your competitors are featuring this season and look for the gaps. For more on market research tools, marketing technologies, or how to improve SEO on your website, read our blog: How to Improve SEO and Why It’s So Important.
These climbers not only kick ass, but they’re also helping their favorite brands, like Petzl, create brand awareness and showcase products in use.
3. Study their Social and Digital Marketing Channels
Start your market research by exploring where your competitors are most active. Are they dominating Instagram with breathtaking travel photography? Are they leveraging brand ambassador content or using SEO to rank high for adventure travel keywords in their blogs? By identifying which channels your competitors prioritize, you can refine your strategy and uncover gaps they’re leaving unaddressed!
We know spending time on social media can be exhausting. Yet by investing an hour each month into a few key competitors, you can develop knowledge to drive marketing strategies.
Digital Marketing Channels to Use for Market Research on Your Competition
- YouTube
- X (Twitter)
- TikTok
Example: A travel agency specializing in eco-tourism might notice that a competitor’s blog ranks for “best sustainable travel destinations” but has minimal YouTube presence. By creating a YouTube series featuring eco-friendly travel tips and tours, you can capture an audience that prefers video content, filling a gap in the market. We helped our client High Mountain Gear start up a YouTube Series so people could get to know the Founder, Kyle Willis, and the why behind his products!
If posting authentic and engaging photos and videos is a weak area for your travel or outdoor brand, we’ve got two DIY blogs that can help:
As a small business, you may not have the budget to work with a photographer or videographer on a regular basis. So you and your team need to learn how to take better photos and videos!
4. Monitor Brand Engagement in Your Market Research
Analyzing a competitor’s marketing not only reveals what they post but also what engages their audience. Look for patterns in the types of posts that generate high engagement and note the comments and questions.
Where to Find Engagement Metrics
- Social media accounts
- Review sites like TripAdvisor and Viator
- Travel forums
Example: You may notice that a competitor’s wildlife photos or landscape shots receive higher engagement than posts with people or products. Armed with this insight, you could plan regular posts showcasing the scenery, animals guests might spot if they sign up for your tour, or furry friends that come to visit your destination with their human counterparts. Or, if you’re pet-friendly, make this a priority to feature it as so many people travel with their fur babies these days! Build emotional connections with followers and encourage conversations.
Additionally, identifying where a competitor’s audience engages the most should be a part of your market research in this category. If their Facebook page outshines their X (Twitter) account, it’s a sign of where their audience’s priorities lie. For more on how to engage on social, read: Best Social Media Practices.
Beautiful imagery of your destination with hints of things to do while a guest visits can immediately inspire. Draft engaging copy for your potential customers to go along with the photos or videos. Ask your audience if they’ve been, and if so what was their favorite part!
5. Attend Industry Events, Tradeshows, and Local Happenings as Part of Your Market Research
Tradeshows, expos, and local networking events are prime opportunities to learn directly from competitors and conduct market research. Take note of your competitors’ booth designs, giveaways, presentations, and interactions with attendees. Observing how your competitors market face-to-face can provide valuable inspiration for your campaigns!
Example #1: During a trip to Ecuador’s Andes Mountain Range or to the Costa Brava, the ‘Wild Coast’ of Spain, we ride bikes, hike, and rock climb, but we’re also looking at what’s trending. From gear bags to apparel, climbing shoes to kombucha. This is adventure travel and networking, but it’s also market research as it gives us fresh ideas for upcoming client campaigns. Make time in your travels to visit local bike shops, talk to mountain guides, and browse the brochures at your hotel to see what adventures and activities are being promoted.
Example #2: As an adventure travel company attending Outdoor Retailer or ITB Berlin, you might see a competitor with a plain-looking booth and just a banner with one person standing in front of it. To help you stand out, your next booth could showcase videos of your destinations or tour packages in the background. You could create interactive 360-degree videos for both live events and digital campaigns!
If you haven’t yet had a chance to read our blogs about the Best Tradeshows and Events, check ’em out below:
- Best Tradeshows in the Outdoor Industry
- Top 10 Travel Tradeshows for Tour Guides, Travel Agents and Destinations
Take note of what your competitors are doing at tradeshows and events. These therapy dogs drew in so many visitors to a booth, and kept people engaged and at the booth longer during presentations!
Next Steps in Your Market Research and Competitive Analysis
Once you’ve gathered insights from these 5 approaches, it’s time to put them into action! Here’s how:
Create a document with your findings for each of the steps mentioned above. Use this information to differentiate or improve your offerings. Use what you’ve learned in your market research and competitive analysis to highlight what sets you apart. If competitors focus on extreme adventures, emphasize family-friendly activities. If they’re hands-off, AI-driven, and tech-forward, go the extra mile in personalized customer service!
Optimize your marketing spend and utilize digital marketing and social media channels that can give you more engagement. By understanding which channels your competitors prioritize, you can focus your resources on areas with high potential returns or underutilized opportunities!
Refine your customer experience and gain more 5-star reviews. Insights from reviews and social media can help you understand what customers value most. Double down on delivering exceptional service to build loyalty and earn positive reviews! For more on improving your product reviews or to find out what the public is saying about your brand, read our blog: How to Generate Good Press: The Power of Public Relations. You can also use tools like:
Final Thoughts on Finding Success Through Market Research and Competitive Analysis
Several brands have excelled by closely analyzing their competition. For instance, Airbnb’s rise involved studying traditional hotel chains and targeting unmet needs such as authentic local experiences and unique accommodations. Similarly, REI has thrived by recognizing a gap in the outdoor recreation market where people want to go into a store to touch, feel, and try on products before they purchase.
In the travel, tourism, and outdoor industries, success often hinges on identifying what others are doing—and what they’re not. When you understand your competitors deeply, you can position your brand to offer something truly different. Whether you’re promoting destinations, gear, or experiences, knowing your competition isn’t just smart—it’s essential. Take the time to explore your competitor’s strengths and weaknesses, then channel that knowledge into creating campaigns that inspire your audience.
Ready to outpace the competition? Let’s make it happen. Drop us an email and let’s chat about how we can support you with market research and creating a competitive analysis!
Meredith McConvill, Top Rope Media
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