Competition Heating Up: It’s Time to Conduct a Competitive Analysis

There is good news coming out of the massage therapy industry. The global massage therapy service market estimated at $19.45 billion in 2024 is expected to grow to $29.53 billion by 2030, representing a Compound Annual Growth Rate (CAGR) of 7.3 percent from 2025 to 2030, reports Grand View Research.[1]

Driving the future of massage therapy greater acceptance among consumers who are looking for a more holistic approach to health care and their well-being, writes the American Massage Therapy Association (AMTA). [2]

AMTA also attributes support to other health care providers who are starting to accept the benefits of integrative care. In 2022, researchers conducted a systematic review to determine the acceptance and use of Complementary and Alternative Medicine (CAM) among medical specialists. The review examined 25 studies between 2002 and 2017 and included 10 medical specialties. They found overall acceptance of CAM at 52 percent with Family Medicine reporting the highest acceptance. The overall use of CAM was 45 percent with the highest use by Obstetrics and Gynecology. [3]

Competition heats up

The good news coming from the massage industry means that while you can expect more opportunities, competition will heat up as more individuals enter this growing profession. It becomes imperative to identify a unique position and value proposition that clearly distinguishes your business from the competition. Segmentation is another consideration. In a highly competitive market, it is difficult to be all things to all people. Segmenting and targeting massage clients with a compelling proposition that addresses their specific needs, preferences and behavior improves engagement and boosts bookings.  

Analyzing competitive massage therapists, whether sole proprietorship, clinic or franchise, enables you to evaluate your offering against the competition to determine your differentiation and value proposition. It helps to identify the most likely clients for your service.  And by conducting a competitive analysis, you are better prepared for both opportunities and challenges as you grow your business.

Value of the competitive analysis process

Understanding the strengths and weaknesses of your competition - direct and indirect - as well as the opportunities and threats they present is the objective of the competitive analysis process. Understanding competitive offerings helps you highlight advantages of yours, create targeted marketing campaigns, and make more informed decisions. By having a clearer picture of the competitive landscape, you reduce the risk of bringing services to market that are not in demand, targeting the wrong clientele, not pricing services in line with the market, and not staying current with the trends in the industry.

Through the competitive analysis process you can learn from the mistakes and successes of your competitors as well as find gaps in the marketplace that you can fill with your unique value proposition.

What are the competitive analysis steps?

Among the competitive analysis steps, you will want to do the following:

Step 1. Identify both direct and indirect competitors

 Direct competitors are other massage therapy businesses. Indirect competitors are other providers offering massage therapy services, but they are not direct competitors. Among this group are chiropractors, gyms, and health clubs. While they may not compete directly with your business, they provide an option for clients seeking massage therapy services. You can use Google, LinkedIn, or Yelp to help compile a list of competitors in your market area.

Step 2. Assess competitive business strategies

Once you have compiled your list of competitors, the next competitive analysis step is to determine each one’s business strategy, which includes:

·         Clients they serve by demographics (age, gender, income, education)

·         Volume of business

·         Use of technology

·         Services they offer

·         Pricing structure (high end, mid-range, low cost)

·         Specialties or what are they known to be exceptionally good at

Step 3. Conduct market research to identify value the proposition of each competitor

The next step in the competitive analysis process is to conduct market research on each competitor to determine their value proposition.

Research can include primary research, such as interviewing your own clients to see what they know about competitive offerings. Secondary research includes:

·         Analyzing websites of competitors to see how they brand themselves visually (logo design, color palette, typography, messaging, tone, and overall visual identity) to convey an ultra-modern, conservative, or clinical identity and what they say about their offering, expertise, and services

·         Researching competitors’ social media pages to learn what their marketing messages are and what their clients are saying. Research on social sites will tell you what the competition is saying about industry trends they are following.

·         Tracking review sites such as Google Business Reviews and Yelp to find out what customers are saying about your competitors. Also reviewing online industry sites, offline community newspapers, and other marketing channels, such as partnerships with health clubs, to identify competitive marketing messages and content.

·         Reviewing e-mail marketing or text messages from competitors, if possible.

·         Networking with industry professionals to get input on competitors’ reputation and market position.

Step 4. SWOT analysis

SWOT stands for strengths, weaknesses, opportunities, and threats. Competitive intelligence and market research helps you identify the strengths and weaknesses of your business. It also helps you turn weakness into opportunities and to be aware of threats or challenges your business faces and prepare for them. During the SWOT analysis ask yourself:

·         What do we do well?

·         What area(s) need improvement?

·         Are there areas of service we need to add?

·         What trends are in the market that present opportunities?

·         What challenges in the market we need to prepare for?

Step 5. Develop your value proposition

The competitive analysis helps you determine your market position and craft a value proposition to communicate in marketing outreach. Periodically review it as the competitive landscape changes to make sure your business maintains its competitive edge.

The competitive analysis process can take time but it is essential to meet long-term business goals and avoid costly mistakes. If you do not have the time to take each step, consider securing outside resources such as marketing consultants to help. Eventually, you will be ahead of your market for making the effort.