Analyze Your Competitive Landscape

We all know how fast-moving the business invironment has become. So how are you analyzing your competitive landscape? Do you act proactively or reactively on changes?
Understanding the market and the strengths and weaknesses of your competitors can provide great direction on how to differentiate and win. A complete competitive analysis covers every aspect of the business, from product to marketing to sales execution.
Furthermore, an insightful competitive analysis draws out opportunities and action items for each stakeholder across your business.

You are not alone

Every company and every product has competitors, who are all striving for market awareness and approval, just like you. That’s why branding alone is not enough. You have to find positive differences between you and your competitors. A process also known as positioning.

The craftsman’s tools

To create a strong and positive position in the minds of your customers, your message must be both simple and focused.  It must also take into account the strengths and weaknesses of your competitors.
Not easy, but if you focus on something special or different about your own company, it’s not as hard as it might seem.

Here are 5 key questions which will help you get to the core of your message:

  1. Who is my target group?
  2. What are the top 3 arguments for using my type of product or service?
  3. What are the top 3 arguments for choosing my specific product or service?
  4. What are the top 3 reasons for dealing with my company?
  5. Who are my 3 most important competitors, and how do I differ from them?

You can, of course, work through this process yourself, but an agency like the agencies in CommWorld are experienced in finding small but crucial points of difference and of course, in formulating your message concisely and memorably.

Here is a smart tip: Just contact your CommWorld partner agency in your country.

4 months ago 0 0 413