Understanding your competitor landscape and target audiences with Heatmaps

Relative Insight Heatmaps is a text analysis visualization tool that helps insight teams, market researchers and strategists quickly spot where the most important differences and commonalities exist across target audiences and the competitor landscape.

Heatmaps provide a rapid solution for generating audience and competitor insights and support effective data storytelling by wrapping up all the nuances of text analysis in a visual format that anyone can understand. They also play a valuable role in helping teams focus on the things that matter most in their data and prioritize specific areas for further analysis.

competitor landscape matrix plotting pizza chains and showing which are the most and least different

Generate a view of the consumer and competitor landscape in minutes

Heatmaps provide a top-level assessment of your competitors and target audiences in minutes. Designed to be included as part of any research output, Heatmaps are particularly useful when working to produce insights for a pitch or presentation on short notice.

By uploading customer reviews of competing products to Relative Insight and visualizing this data using Heatmaps, insight teams can quickly survey the competitive landscape. This enables organizations to easily identify the brands to which they are most closely aligned and those that are most differentiated. Equipped with strong understandings of their competitive positions, marketing and sales teams can leverage the most effective messaging to win new customers.

Relative Insight customers are also taking similar approaches to understand their target audiences. Segmenting customer feedback based on the country of the respondent, for example, makes it easy to identify how customer needs and experiences vary across geographic markets. This helps marketers, sales and product teams take an informed approach to localization.

A text analysis visualization for powerful data storytelling

Boiling down a robust, complex analysis into something easily digestible for non-analyst stakeholders is often easier said than done. In fact, our customers tell us this is one of the biggest challenges they face. Heatmaps provide a powerful visual that all stakeholders can understand at a glance.

Including a Heatmap at the beginning of a pitch, report or presentation provides context and sets the scene for stakeholders. Providing a high-level view helps get clients and stakeholders in the right mindset before progressing into the more granular details. This helps to build stakeholder confidence and increase the likelihood of insights being used as the basis for decision making.

Prioritize the important areas for further exploration

Heatmaps also function as a launchpad for further analysis and exploration of your data. When analyzing large volumes of data, exploring every possible angle is often not practical. This is especially so when working against a pitch deadline or researching a large number of competitors or target audiences. By showcasing where the most and least pronounced differences are, Heatmaps help analysts generate top line insights and prioritize the most important comparisons for further investigation.

For example, when analyzing the competitor landscape, teams might be most interested in understanding the competitors that are least different to them as they are most likely to be competing for the same consumers’ attention.

Conversely, when doing a geographic market analysis teams might want to perform further analysis where there are the greatest differences as this indicates a need for localized approaches.

Creating Heatmaps

Heatmaps are created and viewed from the Relative Insight Data Library. Simply navigate to the applicable project folder, select between three and 20 data sets to include and then click the Heatmap icon in the action menu at the top of the screen.

Start using Heatmaps today!