14 Reasons Why Competitive People Are Better In Life, Business And Love
Oct 17, · Of course, depending on the size of your rivals and the market you’re in, you may need to adjust some of the finer details you’re looking for. But, most competitor analyses examine these key elements: Who Is Their Target Audience? Typically, you and your competition have a similar audience. That’s what makes them your competition. It’s not always easy to identify what your competitive advantage is. For example, you may want to say what makes your company special is “superior customer service,” but chances are, your competitor also thinks their customer service is fantastic. You’ll need a more compelling differentiator if you really want to stand out above the crowd.
E-mail me ator contact me now at ! There are few documents that get the attention of product planners and marketers the way that a competitive analysis does.
A good competitive analysis is a scouting report of the how to clean a rusty cast iron pan market terrain that your company must navigate in order to be successful. And there is no person better equipped to write one than a market-savvy technical writer. If you're like most successful technical writers I know, you have these skills already.
So, how do you put these skills together to do the job? The analysis begins with a list of your company's competitors. Most of the time, such a list is comprised of what your company cconsiders to be its chief competitors. However, there may be other companies that indirectly compete with yours, ones that offer products or services that are aiming what makes a good competitor the same customer capital. You will also want to include information on companies that may be entering your market in the coming year.
Once you have compiled the list, you can highlight those companies that will be the greatest challenge. Analyze the competition's products and services in terms of features, value, and targets. How do your competitor's sell their wares? How do they market them? Customer satisfaction surveys conducted by the trade press can help you tremendously.
How do customers see your competition? Ask your sales force for information -- they can be your best source of information about your competitor's customers. It's likewise important to include information on how competitors distribute and advertise their products. You will want to talk about product quality and, where possible, find out how they are staffed.
As you put together the list of competitor strengths and weaknesses, be objective. You'll do your company no good if you allow bias toward your own products and services to cloud your judgment. Try to see the competition's products as though you were the competitor. What makes their products so great? If they are growing rapidly, what is it about their product or service that's promoting that what is work of software engineer You can find this information in a variety of ways.
Certainly there are numerous Internet resources you can use -- the competitor's Web site is always a good start. The trade press is an invaluable resource, but don't do all your research through the Internet. Make some phone calls, talk to the journalists and consultants who are active in the industry.
These people are a lot easier to find than you'd think, and they are often happy to share facts and opinions with you. Observe how your competitors market themselves through press releases and advertising.
Quarterly and annual reports reveal a great deal of information, too. But more than likely you'll have to do quite a lot of footwork to nail your competitors down. Interviews of journalists and consultants can be valuable. You will have to go to many different sources to get a complete picture. What about your competitors' customers? Good sales people will know who they are and can help you get this sort of information.
It takes practice and a little shrewdness on your part to piece together a complete picture of strategies and objectives. Focus on the facts, be persistent, and trust your intuition to help you. What is the market for your company's product like now? Is it growing? How to create a myspace music account so, then there are likely quite a few customers left to go around.
If on the other hand the market is flat, then the competition for customers is likely to be fierce. Your company will find itself scrambling to win market share. Is the market splintering -- is it breaking up into niches? The outlook portion of your analysis may seem like prognostication, but it's really a measure of trends. By the time you've done most of your research, you'll have enough information to determine what the outlook really is.
Writing a competitive analysis can be a challenging and interesting piece of work. You'll learn a lot about your industry and in the process become a more valuable resource for your company or clients. Copyright c by Michael Knowles. All Rights Reserved. Contact me by what makes a good competitor ator call How to Write a Competitive Analysis by Michael Knowles There are few documents that get the attention of product planners and marketers the way that a competitive analysis does.
To write a good competitive analysis, you must: Be objective. Conduct fearless and thorough research. Write well. A competitive analysis covers five key topics: Your company's competitors.
Competitor product summaries. Competitor strengths and weaknesses. The strategies used by each competitor to achieve their objectives. The market outlook. A List of Competitors The analysis begins with a list of your company's competitors.
Competitor Product Summary Analyze the competition's products and services in how to get rid of beer belly fast of features, value, and targets.
Competitor Strengths and Weaknesses As you put together the list of competitor strengths and weaknesses, be objective. Competitor Strategies and Objectives Observe how your competitors market themselves through press releases and advertising. Market Outlook What is the market for your company's product like now?
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Apr 16, · Methodical buyers form the largest customer group in the society (approx. %). They are comparative by nature and need convincing to realise that a product is the best. They also thoroughly research any product they intend to buy and will compare it with competition .
Why are your competitors outranking you? What are their strengths? Their weaknesses? What marketing strategies are they following?
Which keywords are they ranking for? What countries are they targeting? Competitor analysis is the answer. Learn from their strengths and exploit their weaknesses.
Start your competitive analysis strategy today! Download my free reporting templates! Reporting on your competitor analysis, presenting it to your manager, is a vital part of the process. To show you how great your reports can look - download three simulated Talkwalker reporting templates.
Market impact demonstrating strategy across networks, compared with competing brands simulated Talkwalker report.
Let's talk about competitor analysis. I don't mean a quick scan of their social media accounts when you arrive at work. That is NOT good competitive analysis. That's just being nosey. The best competitor analysis harvests digital consumer insights that'll help you make informed decisions about your brand's marketing strategy.
Good competitor analysis is performed regularly and helps you outsmart your competitors. Social media A quick look at what they've posted, customer engagement, support issues. Competitive analysis should be an in-depth study of your industry and its members - their strengths and their weaknesses. Only then will you be able to identify opportunities for improvements within your marketing campaigns - targeting, SEO, content, leads, conversions, revenue, etc.
Think you know everything there is to know about competitor analysis? Are you sure? This guide must have pride of place in your marketing library. Great post here from Talkwalker. Good resource to look at for your client work. The biggies, plus those that compete indirectly with yours, and potential competitors that could enter your market. Those that offer products and services that are targeting the same market as you. Also, include information on start up companies that will emerge in the coming year.
That you have a clear picture of the marketplace, along with plans in place to compete at the same level as established brands. Throughout this guide, I've used Quick Search - Talkwalker's social media search engine - to demo how competitor analysis should be done. For a specific breakdown of the importance of this, you should definitely check out Talkwalker's latest article on the necessity and implications of competitor analysis for your business and brand.
Talkwalker's Quick Search - compare upto 5 brands at a time for fast competitor analysis. BTW - if you need help with setting up a comprehensive marketing strategy, I've just the thing for you - From marketing strategy to marketing plan - your complete guide. It walks you through reporting on last year, generating new ideas, choosing your strategies, setting your goals, and structuring your plan.
There's also an exclusive eBook you can download for free. It can be complicated and it is time-consuming. The guide provides real life examples, a competitor analysis template, and tools in action. How they compare to your business. It has to be an essential part of your marketing plan. Without it, how will you know what makes your product unique? BTW - Check it out, if you don't think there's a difference between competitor analysis and competitive intelligence!
Harley, Indian, Triumph - big, throaty bikes ridden by leather-clad guys - dominated the American market. Honda, wanting to expand its motorbike business in the US, analyzed the competitive market and found an area in which it could excel - small bikes. Competitor analysis won the day! Competitor analysis is market research.
Finding opportunities and risks associated with various strategies, such as a product launch. Analyzing their content will show you the direction they're taking and whether consumers are engaging with it. What types of content creation do your competitors focus on? Are you providing the same, or missing opportunities?
Once determined, you can check out the quality and how it compares to yours. And, Google isn't stupid. Your competitors are posting at the same rate as you, with similar content. Why are your competitors ranking higher in search engines? What are they doing differently to you? This is when you need to explore their SEO strategies.
Not only should you check the SEO structure of the content but also the keywords your competitors are using. Part of your competitor analysis is to find where the competition ranks in SERPs , and earn a higher ranking. If the new keywords have high search volume, look for keywords with lower search volume - usually, long-tail keywords.
Take a look at your keyword analytics, specifically the search queries that have resulted in your organic traffic. Pull out the following information:. Any missing, create content and get them on your website - fast!
Quick Search reveals keywords and phrases trending in the social media listening industry. Enter a product name, for insights on all the surrounding themes. By incorporating them into its SEO strategy, ranking well in SERPs is more likely because the website contains searched phrases and keywords.
BlackBerry competitors performing the same analysis, will find keywords and phrases that consumers are using when they search for the BlackBerry Motion. To grab these consumers during their searches, competitors should include the keywords in the content on their website.
Again, their websites will hold the answers to consumers' questions. When searching for BlackBerry Motion, consumers are using keywords that include: battery life, security updates, anti scratch, energy efficient.
The next step of your competitor analysis should be to determine how the competition are using social media. Their activity and the social media landscape as a whole, in your industry. The results of this analysis will help you improve your own social media strategy.
Of course, you have competition - local, national, or international, your brand will be competing with other brands. Local newspapers are also packed with valuable insights. Social media listening brings deeper, more valuable digital consumer insights. You'll also identify emerging trends, and discover new brands arriving on the scene. Finger on the pulse, your reaction time will be fast.
What about the bar around the corner, the cinema opposite, the hotel just out of town? What about the online pizza delivery website?
Knowing who your competitors are, what products they offer, prices, opening hours, customer service, etc. Compare your strengths and weaknesses with those of your competitors. Find areas you can specialize in, focus on, exploit. What value does it give to consumers? How are they developing and marketing their products?
List your competitors strengths and weaknesses. Should you be threatened by their strengths? Which weaknesses can you exploit?
Now you know the things you should be looking at, an easy way to compare is with a competitor analysis template. List your competitors on the left. At the top, list the target market, price, USP, social media presence, distribution method, sponsorship, influencers, etc. Competitor analysis template for Coca-Cola and its top competitors.
How much people are talking about your brand, in relation to your competitors. But, these insights will give you a clearer picture of your brand awareness, compared to your industry. While Coca-Cola is the king of fizz, Pepsi hit the headlines in April with 2. In a competitor analysis study, Coca-Cola should ask - what happened to cause this peak? Should we be copying this tactic to increase our brand mentions? If only Daddy would have known about the power of Pepsi.