knowing who your competitors are, and what they are offering, can help you to make your products, services and marketing stand out. with increased use of the internet to buy goods and services and to find places to go, you are no longer just competing with your immediate neighbours. you also need to be constantly on the lookout for possible new competition. at exhibitions and trade fairs check which of your competitors are also exhibiting. check any interactive parts of the site to see if you could improve on it for your own website.
phone them to ask for a copy of their brochure or get one of your staff or a friend to drop by and pick up their marketing literature. don’t just ask how well you’re performing – ask which of your competitors they buy from and how you compare. evaluate the information you find about your competitors. if you’re sure your competitors are doing something better than you, you need to respond and make some changes. renew your efforts in these areas to exploit the deficiencies you’ve discovered in your competitors. and even if you have, your competitor may be planning an improvement.
stop guessing what your employees and customers want and uncover why they’re reaching out, how they feel, and what they’ll do next. integrations with the world’s leading business software, and pre-built, expert-designed programs designed to turbocharge your xm program. tackle the hardest research challenges and deliver the results that matter with market research software for everyone from researchers to academics. with a holistic view of employee experience, your team can pinpoint key drivers of engagement and receive targeted actions to drive meaningful improvement. you’ll be able to run competitor analysis and also spot gaps in the market.
1. market research this can be as simple as asking your salespeople which competing companies get mentioned most in their customer conversations, or as complex as an unaided brand awareness survey where respondents name competitor brands they associate with a particular product. google the keywords you’re most interested in, and see who’s on the first results page and what they offer. it can be used for comparative keyword research and gives you a more comprehensive perspective on the news, opinions, posts, and perceptions affecting competitors. 8. stat is a rank tracking tool that you can use to follow your performance and that of your competitors in search engine results pages (serps). 11. meltwater – a comprehensive tool to measure your share of voice inside your industry, through media monitoring and social listening. 14. industry directories – and finally, if you want to be a little more analogue with your competitive research, you can trawl through the ‘big eight’ industrial directories: thomasnet (or thomas registry), com, iqs directory, ihs engineering360, zycon, processregister, kompass and macrae’s blue book.
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