How To Conduct Competitive Research

Shared On August 28, 2024 • 10-Part Video Series

How To Battle Properly In The Market

Most people, when they conduct competitive research, find themselves mimicking their competition. True, competitive research, is about how you can position yourself differently in the market, as well as understanding how to go to battle effectively.

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Competitve Market Research

With the advances in technology today, it's easy to understand the marketing and sales positions your competition is taking in the market.

And while this research finds most mimicking their competition and becoming me to companies, research, when done properly, will allow you to find the kinks in your competition's armor and use it to your advantage, so you can play better defense against their attacks.

Better Objective Handling And Marketing Messages

By having all this data at your fingertips, not only will your sales team be more effective when competing for new customers, but your marketing messages will be more concise and use the appropriate language to stand out.

Furthermore, by doing this research, you'll be able to find the strengths and weaknesses and have a better understanding of what you need to do in your own organization to ensure that the claims and offers you present to the market are exceeded so that the competition doesn't play the same playbook against you.

What You'll Get In This Video Series

Throughout this video series, I'll share with you exactly the process I go about to identify, understand, and compete against other organizations that do business in the same or similar category as the platform I am promoting so that you can learn how to be and remain competitive in your space.

Video Series Agenda

This 10-part video series will discuss the following topics:

Finding Your Competition

While you may know most of the players in your space, it's always important to be diligent about people coming into the game. A single investment with a hungry team can end up being a disaster if you're not prepared for them.

Understanding Competitive Positions

Knowing how your competition positions itself in the market can allow you to find gaps and ways to position yourself, gain a competitive advantage, and stand out in the market, instead of, competing head-on and trying to displace them.

Understanding Competitive Weaknesses

You don't go about trying to displace or compete with the 800-pound guerilla without first trying to understand how you'll actually be able to win. There are two main ways to displace, and when done properly, allow you to tap into the market.

Understanding Marketing Campaigns

Understanding where the competition is spending money offers insight into what matters to them and how they do marketing and sales. From the ads themselves to where they push the reactions and the process afterward, are insights into their position.

Best Performing Content

What content drives the most traffic to your competition's website and do you think you can make it better and steal that traffic from them? Discover how to find this content.

Customer Conversations

Customer conversations give insights into what your competitors are doing well and what they aren't, uncandidly and transparently. Learn how to find the tea.

Employee Conversations

Gain valuable insights into your company's reputation and employee sentiment. Learn how to leverage tools like Glassdoor reviews to understand what employees think about your competition and how to stay competitive in the job market.

Figuring Out Where You Stand

By this point, you should have a good understanding of who your competition is, what they have to offer, and how well they do that offer; the best way to move forward now is to build out a SWOT analysis to understand where everyone fits.

Designing Competitive Sales Battle Cards

Bringing all this information together and making it easy to understand and distribute to your team is the final step of competitive research. With the amount of information gathered, this research should change how your entire operation functions.

Predicting Competitive Next Moves

Now that you are armed with competitor research, it's time to predict the next moves and play chess in the marketplace. There are a few hidden moves left though.

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