When you were young, your mom may have asked you if you'd jump off a bridge if everyone else were doing it (mine did). In the world of marketing, what matters more is understanding why everyone is going off the bridge in the first place.
In other words, knowing not just what your competitors are up to but the strategy around the decisions they're making will give you an edge when it comes to standing out in your space and owning market share.
This post will outline how to create a completely automated competitive audit and how to use it to dissect your competitor's strategy while sharpening your own.