Digital marketing agencies and online business can often benefit by doing some strategic business planning. Using a framework like Porter’s Five Forces can be a straightforward way to get this competitive analysis done. Although Porter’s concepts may be unfamiliar to you, they are certainly worth the difficulty required to learn their central concepts.
The most important thing for digital marketers is that they grasp enough of Porter’s key concepts so that they can start using it as a tool in their digital business.
Porter’s Five Forces is a useful tool to have in your business toolbox to do a competitive analysis of your particular digital business environment.