Форум Сообщества Практиков Конкурентной разведки (СПКР)

5 Ways Competitive Analysis Tools Can Help You Win

www.clearci.com/blog/bid/183632/5-ways-competitive-analysis-tools-can-help-you-win

Автоматический перевод

There is nothing unethical about snooping on the competition. Absolutely nothing! On the contrary, you’re in big trouble if your company doesn’t conduct a competitive analysis at minimum every quarter.

All companies, without exceptions, should have competitive analysis tools to study the competition’s position in the market, their products or services, customers, strategies, tactics, and other important factors that can give them a competitive advantage.

Why? Because all companies ( big ones, medium ones and startups) should know their position in the market, their strengths and weaknesses, and how to compete effectively. Doing a competitive analysis can require substantial research time, lots of coffee and competitive analysis tools like clearCi to get the job done.

At clearCi, we walk the walk, there is very little anyone can ask us about any of our competitors that we don’t already know. This is thanks to competitive analysis.

With that said, here is 5 reasons why competitive analysis tools can help you win:

#1: Use Competitive Analysis Tools to Revisit Strengths & Weaknesses

No one likes to compare themselves to others, but is the only way to improve weaknesses and maintain strengths.

When conducting a competitive analysis, focus on what key technology, products, or services competitors are offering to see where your company's strengths and weaknesses stand. Use competitive analysis tools to make a list of strengths and weakness based on what consumers need and what competitors have or don’t have. Be very careful, because often attributes companies believe are important features and strengths are not necessarily that important to consumers.

Using competitive analysis tools can also help companies categorize the competition. Sometimes the competitors that we fear the most at first glance are the ones to worry about less and vice versa.

#2: Use Competitive Analysis Tools to Brand Your Company

Conduct a competitive analysis to know the position of your company and its product in the market. This can provide a clear vision on who you’re really up against (direct) and which competitors meet other needs (indirect). Make a list of how many your company is competing against! Why not? Know which companies to monitor closely and which ones are none of your concern.

With competitive analysis tools you can receive alerts every time your direct competitors launch a product/service, expand to new territories or merge with other companies. The goal behind the competitive analysis here is to brand your company and its product offering relative to your competitors to create new marketing opportunities, target the right audience, and contact the adequate investors. Without competitive analysis tools, it’s very difficult to know if your brand strategy is effective.

#3: Use Competitive Analysis Tools to Discover the Road Ahead

Know what your competitors are doing right now and potentially in the future. If you haven’t already done so, it’s never too late to begin doing competitive analysis.

Keeping close tabs on what is happening in the industry and with competition can help map the road ahead. Launch a product’s feature before the competition, partner with upcoming successful companies and make other future strategic decisions based on your competitive analysis. Once you start to the monitor the competition, you’ll know which ones tend to be reactive versus proactive.

#4: Use Competitive Analysis Tools to Disclose Competitors to Customers & Investors

“We are the only one in the market. We don’t really have competition.”

Any successful company in any given market has competition, and if it doesn’t have it, be aware, because they are coming! Please avoid telling customers or investors that your company doesn’t have competitors, because that can be a credibility-killer and a straight up lie!

Instead, use competitive analysis tools to research your competitors and develop helpful CI briefs or battle cards that can prepare everyone in the company. Impress your prospects, clients and potential investors about your knowledge on the competition. Make sure you do competitive analysis to know what differentiates you from the competition, their products or services. Knowing their pricing strategies and the needs they meet in the marketplace is key.

Customers and investors appreciate honesty! Also, use competitive analysis tools to research potential companies that can enter your market space with a compelling product or services.

#5: Use Competitive Analysis Tools to be Ready to Attack

The idea is to use competitive analysis tools to be proactive. Ironically, even the most competitive companies say their competitive analysis efforts are reactive. This runs great risk, folks! No one is exempt from being replaced. Disruptions occur all the time so it’s important to learn how to use competitive analysis tools to stay informed about industry evolvements.

Keeping up with what’s going on in the marketplace and with competitors allows you to make educated, timely and financially sound decisions about where you’ll get the greatest return.

Trust us, your competitors are doing competitive analysis on your company too. Use competitive analysis tools to return the favor.