How to proceed?
In addition to the well-known SWOT matrix (Strenghts – Weaknesses – Opportunities – Threaths), useful for a comparative analysis , and the benchmarking tables , it is good at this point to ask yourself some basic questions:
- What services do competitors offer ? And to which target?
- How do they communicate? Through which channels?
- What are their strengths and weaknesses?
And even if the focus of the analysis always remains one’s own Greece Phone Number List product and one’s brand , to improve it and make it even more competitive, the questions to be asked, once the competitors of one’s reference sample have been identified, mainly concern the areas of the product, sales and marketing.
Competitor analysis: how does it help the business?
For those who have to develop a business from scratch, first of all analyzing the competitors in the sector can help to better structure the idea that underlies it.
From positioning to the business model, from the ASA to the target, to increase the chances of success and growth in the long term.
But perhaps for an already “established” company it is even more important to find the right results following benchmarking .
In other words, reflecting further on one’s values, recognizing what makes it unique, discovering any new niches.
But also improve your communication with customers and the customer experience, predict some market trends and discover needs not yet satisfied by the competition, but the possibilities are potentially even wider.
Communication and social listening
We know that the communication strategies chosen by brands can tell us a lot about their fundamental characteristics and their way of achieving their objectives. One way to focus more on your competitors
‘ communication methods with their customers is to pay Email Lead attention to social listening . Putting yourself in the shoes of a competitor ‘s “typical customer” can reveal interesting information. For example, how companies build brand awareness. How they communicate through social media. How users’ problems and requests are managed and what aspects may be lacking in the strategies they adopt.