How to beat your competitors using Competitive Intelligence and Competitor Analysis
You believe you are offering the best product or service on the market, and the trouble is your competitors should feel the same way. Here is a list of 16 points that will help you know how to beat your competitors using Competitive Intelligence and Competitor Analysis.
- Find and solve your customer’s pain points.
- Find your niche with storytelling and specialising.
- Follow in the footsteps of your competitors but don’t necessarily just copy them.
- Learn from what they have done well and what they have failed with.
- Understand what are they doing and how are they doing it.
- Define and understand what is their market is. What you think it is and what they believe it is.
- Learn lessons on they approach and communicate with their market?
- Understand what makes the competitor so good, what they really sell, and why customers love them? Define what makes their offer better than yours.
- Define how they make their customers happy and how you can make them happier.
- Understand what potential customers think of the potential competitive advantages.
- What problems do they have with your competitor and the provision in general? Can you develop a solution for them?
- Compare your offer to theirs, understand what makes their offer better than yours, and then do something about it.
- Set competitive pricing once you know why your competitor charges for what it does
- Change what your business does to stay ahead of your competition.
- Provide excellent customer service.
- Be creative in how you solve customers’ problems and let the market know.
- Be innovative in solving problems and creating me ways of doing things.
- Ensure you have the best marketing message in the sector. Look at your competitors and answer these questions:
- What are they saying?
- Who are they saying it to?
- What are they not saying?
- How are they marketing their business?
- What’s their overall message?
- Who are they targeting?
- Which demographics are enjoying the message?
- What’s working and what’s not?
- What products do they offer?
- What products do they not provide?
- What clients do they prospect?
- What markets do you think they are in?
- Who would want their product?
- Who are their ideal customers?
- How and why do they choose to buy from them?
- How do their customers make buying decisions?
Then make sure your message is so much better.
How to beat your competitors using Competitive Intelligence and Competitor Analysis
This article asked how to beat your competitors using Competitive Intelligence and Competitor Analysis. We offer 16 points to help you understand how to beat your competitors.
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