The purpose of this episode is to create space and insight for you to think about some useful, pragmatic competitor analysis for your business, to support innovation and growth.
Competitor analysis evaluates the strengths and weaknesses of competitors’ current strategies to help identify opportunities and threats for your business to enhance your own strategy.
When seen through a customer-focused lens, competitor analysis is not about head-to-head comparisons. Instead, it’s about assessing how much better or worse a product or service is at helping the customer get a job done.
Together in the show, we’ll explore the context of the changing world and why competitor analysis is important for you and your business, including these key global trends for 2021 and beyond:
Collective empowermentBack to basicsCommunity focusVirtual livingSustainable spacesDigital challengesI’ll share how you can access the benefits of competitor analysis:
- Nail down or create your value proposition
Better understand current market trendsBetter target your current customer baseUncover untapped markets that your competitors aren’t selling toGather benchmark data to measure your growth againstFind errors and gaps in your competitors’ strategiesYou’re looking for learning to create opportunity.
It’s not about copying - it’s about outperforming, finding gaps and opportunities – innovation.
Tune in to learn more, and access my 7-step process for effective competitor analysis:
- Who are your competitors?
How do your products & services compare?What additional intelligence on them do you need and why?Get the intelligenceCombine the intelligence with customer needs and trendsIdentify gaps and opportunities for innovation and competitive advantageCreate and communicate competitive differentiationYou might like to access the free resources here on my website: https://www.bigbangpartnership.co.uk/resources/
If you’d like to get in touch to book me for a live virtual session in your business, just comment below or contact me https://www.bigbangpartnership.co.uk using the contact us section.