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How to Build a Competitive Matrix for Your Branded Podcast

How to Build a Competitive Matrix for Your Branded Podcast

Learn how to use a competitive matrix to compare and analyze the strengths and weaknesses of your branded podcast compared to other shows in the same space and how to improve.
By
Quill Marketing Team
July 12, 2023
Contents

What is a competitive matrix? 

If you’re a marketer, you’re likely familiar with what a competitive matrix is. But to make sure we’re all on the same page, let’s answer the question: What is a competitive matrix?

A competitive matrix is a marketing tool that visually represents a brand's positioning against its competitors. It helps marketers understand their brand's unique selling points, opportunities for differentiation, and areas for improvement by comparing key attributes or features such as pricing, product offerings, market share, customer service, and marketing strategies, among others. 

The matrix is instrumental in formulating marketing plans, making informed decisions, and identifying potential opportunities in the marketplace.

Applying a competitive matrix to your branded podcast 

This marketing asset can be applied to your brand’s podcast. Building a competitive matrix for your branded podcast helps you gain a better understanding of the competitive landscape and identify opportunities to differentiate your show. 

We worked up a step-by-step guide to help you create a competitive matrix for your branded podcast so you can continue to improve and scale. 

Let’s dive right in!

1. Identify your competition 

Begin by researching and listing the podcasts that are similar to yours or target a similar audience, whether produced by brands, networks, or individual creators. 

As a branded podcast it’s easy to know the companies in your space that already have a podcast out. For example, Sephora’s natural competitor would be Ulta Beauty. Whole Foods’ competitors would be Erewhon Market or even Trader Joe’s infamous show, Inside Trader Joe’s. CIBC’s competition would be Scotiabank or The Toronto-Dominion Bank (TD), and the list goes on. 

2. Determine key comparison criteria 

Make sure to identify the key criteria or factors that are important in evaluating the competitiveness of your branded podcast to another show. 

These criteria can include factors such as:

  • Content quality
  • Production value
  • Audience size
  • Audience persona (age, income, location)
  • Frequency of episodes (weekly, bi-weekly, monthly, quarterly) 
  • Host expertise and experience 
  • Engagement with listeners (on social channels, on air, on blogs)
  • Marketing efforts (digital, newsletters, social, giveaways, contests)
  • Overall popularity, reputation, and clout (ratings, buzz)

3. Create a rating scale 

Assign a rating scale to assess each competitor on the identified criteria. 

For example, you can use a scale of 1-5 or 1-10, with higher ratings indicating stronger performance in a particular area. Or you can even go for a word scaling (very strong, strong, medium, weak, very weak). Just make sure the rating scale is consistent across all the criteria. 

4. Evaluate the competition

Assess each competitor based on the criteria you've established. Gather information about their podcast by:

  • Researching their online presence on social platforms and their website (a key tip is to see if anyone influential is following them) 
  • Listening to episodes (both old and new so you can see the changes and growth)
  • Reading articles or blogs written about their podcast 
  • Reviewing audience feedback and reviews

Assign ratings for each criterion for every competitor (to make it easier, you might want to choose your top 10 competitors to dive into). 

5. Plot the matrix 

Create a matrix or table with the competitors listed on the left side and the criteria/trait listed at the top. Fill in the matrix by assigning the ratings you've determined for each competitor and criterion. 

A picture containing screenshot, text, plot, fontDescription automatically generated

Note: this image has checkmarks, but based on your criteria – whether it is number or words – you will populate it accordingly. 

Explore CoHost’s podcast competitor research template for a downloadable guide to analyzing your competition.

6. Analyze the matrix 

Review the completed matrix to identify patterns and insights. 

 Here are a list of questions for you and your team to reflect on: 

  • Where does your podcast excel?
  • What do you not like about your competitor’s show?
  • What do you like about them?
  • Where do your competitors outperform you?
  • Where are the gaps or opportunities that you can leverage to differentiate your show?
  • What are the similarities between most of the podcasts in your space?
  • Who are your competitors targeting?
  • What are their growth strategies?
  • What changes have your biggest competitors made over the years?

7. Take action on your insights

By doing a deep dive, analyzing the competitive matrix, and answering the questions in the previous section, you’re not only going to learn critical insights about your competitors, but you’ll discover ways to give your branded podcast an edge by improving content and differentiating yourself. 

You can do this by developing an action plan to strengthen your podcast's competitiveness. Focus on areas where you can improve or differentiate your content, marketing strategies, audience engagement, and overall podcast experience.

8. Regularly check in and update the matrix 

The competitive landscape can change over time, so it's essential to keep updating your competitive matrix. Stay informed about new competitors, changes in the industry, and emerging trends. 

We suggest occasionally reviewing and updating the matrix to ensure it remains an accurate reflection of the competitive landscape. Given the world of podcasting and how tools and content available keep changing, keeping your finger on the pulse is key to staying ahead. 

Building your branded podcast’s competitive matrix

By following these simple steps, you can build a comprehensive competitive matrix for your branded podcast that will help you understand your position in the market and make informed decisions to enhance your podcast's competitiveness today and in the future. 

If you want to learn more and find ways to keep your edge, please get in touch with the team at Quill that would be happy to help!

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build-competitive-matrix-for-branded-podcasts

How to Build a Competitive Matrix for Your Branded Podcast

Last updated on: 
July 12, 2023

Learn how to use a competitive matrix to compare and analyze the strengths and weaknesses of your branded podcast compared to other shows in the same space and how to improve.

What is a competitive matrix? 

If you’re a marketer, you’re likely familiar with what a competitive matrix is. But to make sure we’re all on the same page, let’s answer the question: What is a competitive matrix?

A competitive matrix is a marketing tool that visually represents a brand's positioning against its competitors. It helps marketers understand their brand's unique selling points, opportunities for differentiation, and areas for improvement by comparing key attributes or features such as pricing, product offerings, market share, customer service, and marketing strategies, among others. 

The matrix is instrumental in formulating marketing plans, making informed decisions, and identifying potential opportunities in the marketplace.

Applying a competitive matrix to your branded podcast 

This marketing asset can be applied to your brand’s podcast. Building a competitive matrix for your branded podcast helps you gain a better understanding of the competitive landscape and identify opportunities to differentiate your show. 

We worked up a step-by-step guide to help you create a competitive matrix for your branded podcast so you can continue to improve and scale. 

Let’s dive right in!

1. Identify your competition 

Begin by researching and listing the podcasts that are similar to yours or target a similar audience, whether produced by brands, networks, or individual creators. 

As a branded podcast it’s easy to know the companies in your space that already have a podcast out. For example, Sephora’s natural competitor would be Ulta Beauty. Whole Foods’ competitors would be Erewhon Market or even Trader Joe’s infamous show, Inside Trader Joe’s. CIBC’s competition would be Scotiabank or The Toronto-Dominion Bank (TD), and the list goes on. 

2. Determine key comparison criteria 

Make sure to identify the key criteria or factors that are important in evaluating the competitiveness of your branded podcast to another show. 

These criteria can include factors such as:

  • Content quality
  • Production value
  • Audience size
  • Audience persona (age, income, location)
  • Frequency of episodes (weekly, bi-weekly, monthly, quarterly) 
  • Host expertise and experience 
  • Engagement with listeners (on social channels, on air, on blogs)
  • Marketing efforts (digital, newsletters, social, giveaways, contests)
  • Overall popularity, reputation, and clout (ratings, buzz)

3. Create a rating scale 

Assign a rating scale to assess each competitor on the identified criteria. 

For example, you can use a scale of 1-5 or 1-10, with higher ratings indicating stronger performance in a particular area. Or you can even go for a word scaling (very strong, strong, medium, weak, very weak). Just make sure the rating scale is consistent across all the criteria. 

4. Evaluate the competition

Assess each competitor based on the criteria you've established. Gather information about their podcast by:

  • Researching their online presence on social platforms and their website (a key tip is to see if anyone influential is following them) 
  • Listening to episodes (both old and new so you can see the changes and growth)
  • Reading articles or blogs written about their podcast 
  • Reviewing audience feedback and reviews

Assign ratings for each criterion for every competitor (to make it easier, you might want to choose your top 10 competitors to dive into). 

5. Plot the matrix 

Create a matrix or table with the competitors listed on the left side and the criteria/trait listed at the top. Fill in the matrix by assigning the ratings you've determined for each competitor and criterion. 

A picture containing screenshot, text, plot, fontDescription automatically generated

Note: this image has checkmarks, but based on your criteria – whether it is number or words – you will populate it accordingly. 

Explore CoHost’s podcast competitor research template for a downloadable guide to analyzing your competition.

6. Analyze the matrix 

Review the completed matrix to identify patterns and insights. 

 Here are a list of questions for you and your team to reflect on: 

  • Where does your podcast excel?
  • What do you not like about your competitor’s show?
  • What do you like about them?
  • Where do your competitors outperform you?
  • Where are the gaps or opportunities that you can leverage to differentiate your show?
  • What are the similarities between most of the podcasts in your space?
  • Who are your competitors targeting?
  • What are their growth strategies?
  • What changes have your biggest competitors made over the years?

7. Take action on your insights

By doing a deep dive, analyzing the competitive matrix, and answering the questions in the previous section, you’re not only going to learn critical insights about your competitors, but you’ll discover ways to give your branded podcast an edge by improving content and differentiating yourself. 

You can do this by developing an action plan to strengthen your podcast's competitiveness. Focus on areas where you can improve or differentiate your content, marketing strategies, audience engagement, and overall podcast experience.

8. Regularly check in and update the matrix 

The competitive landscape can change over time, so it's essential to keep updating your competitive matrix. Stay informed about new competitors, changes in the industry, and emerging trends. 

We suggest occasionally reviewing and updating the matrix to ensure it remains an accurate reflection of the competitive landscape. Given the world of podcasting and how tools and content available keep changing, keeping your finger on the pulse is key to staying ahead. 

Building your branded podcast’s competitive matrix

By following these simple steps, you can build a comprehensive competitive matrix for your branded podcast that will help you understand your position in the market and make informed decisions to enhance your podcast's competitiveness today and in the future. 

If you want to learn more and find ways to keep your edge, please get in touch with the team at Quill that would be happy to help!

Quill Marketing Team

Driven storytellers

A team of experienced podcasters that are looking to equip brands with the necessary resources, knowledge, and insights to create a successful branded podcast.

Platform
Price
Pro’s
Con's
Anchor

Free

  • Easy to use
  • Automatically distributes your podcast to major platforms.
  • Embed media player.
  • Great if podcasting is a
    side hobby
  • Very basic editing
  • Since it’s a free tool, you don’t have full control over the monetization of your podcast.
  • Not the right platform for people taking podcasting seriously
Buzzsprout

Free for 2 hours of content per month

$12 for 3 hours per month

$18+ for 6 hours and up

  • Very user-friendly
  • Caters to both long term and beginner podcasters
  • Advanced analytics
  • Easy distribution of your episodes
  • They measure their size requirements to hours not megabytes
  • Bonus: get a free $20 Amazon gift card when you sign up for any paid hosting plan!
  • Advanced features like dynamic ad insertion need some work
Libsyn

$5/month for Monthly Storage 50mb

  • Oldest podcast hosting site.
  • Easy distribution to major platforms and great for scaling once your podcast gets bigger.
  • Hosted over 35,000 podcasts.
  • An iTunes Podcast partner.
  • Allows you to publish your podcast to specific directories.
  • Embed media player.
  • Price is based on storage
  • 50mb storage for $5 won’t be enough if you are publishing weekly so you’ll end up with a higher price point
Podbean

Unlimited audio package: $9/month

Storage space:

Unlimited

  • Great support & customer service features
  • Unlimited audio.
  • Pages are easy to customize
  • Can schedule podcast release dates.
  • Easy to use.
  • Uploads and changes to podcast titles and/or descriptions are automatic to Spotify.
  • Embed media player.
  • Simple Analytics
  • Analytics aren’t as advanced as other platforms
  • Upload and changes to podcast titles and/or descriptions take a day to change on iTunes.
  • Not an iTunes podcast partner.
  • The process to send a podcast to iTunes is more tedious. But, you will still be able to get on the platform.
Blubrry

Classic

$5/month

Monthly Storage

50mb

  • Podcast Wordpress plugin and management.
  • If you want to record a new introduction or conclusion, add in a sponsored ad or upload a new version of a podcast, it doesn't count towards your storage usage per month.
  • Blubrry allows a 25% storage overage each month
  • Prices are based on storage.
  • Usability is okay.
SimpleCast

Starting: $15/month

Recommendation: $35/month

Monthly Storage: Unlimited

  • Hosts your audio files no matter what the size!
  • Dynamic insertion for podcast ads or edits.
  • Incredibly detailed analytics including number of episodes completed and listener location tracking.
  • Embed media player.
  • Easy to use.
  • Great distribution! Easy access to all major podcast platforms.
  • Customizable podcast
    website.
  • Prices are slightly higher than other platforms, but well worth it especially if you have a branded company podcast!

Looking to generate reach, leads, and measurable results?

Chat with our experts about your podcast

chat with ouR team