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💡 Use these guiding questions to analyze major areas of your competitor's business. Compare these findings against your own company’s performance and strategies.
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Market Position and Competitive Landscape:
- Who are the main competitors in the market?
- What is the market share of each competitor?
- How does our company's market position compare to competitors?
- Are there any emerging competitors or disruptive forces in the market?
- Who is my competitor's target audience?
- How does your ideal customer compare against your competitors?
- How long has our competitor's product/service been on the market?
- What is our competitor's total addressable market?
- Are there any changes in consumer preferences that might affect the market?
- How about demands for specific products or services?
Products and Services:
- What are the key products or services offered by our competitors?
- What results are these products or services promising customers?
- How does our competitor offer customer support?
- Do our competitors provide any onboarding materials or tutorials?
- How does the quality of our offerings compare to competitors?
- What do we do equally as well, not as well, and not at all?
- Are there any new product launches or innovations by competitors?
- Have our competitors teased any future releases?
- Are there any gaps or unmet needs in the market that competitors are addressing?
- How is our competitor's value proposition shared with its customers?
Marketing and Branding:
- What marketing strategies and channels are competitors using?
- How effective are their marketing campaigns in terms of reach and engagement?
- Are there any unique branding or positioning strategies employed by competitors?
- What is the tone and messaging used in their marketing communications?
- What type of content and engagement strategies do competitors employ?
- What social media platforms are our competitors the most active on?
- How does their content vary across social platforms?
- Do our competitors receive influencer promotions?
- Does our competitor create joint content with other thought leaders?
- How consistent are they producing content in each channel?
Pricing and Promotions
- How do our prices compare to competitors for similar products/services?
- What is our competitor's pricing strategy and packages?
- For pricing tiers, what’s included in each package?
- Are there any promotional offers being used by competitors?
- How often are these offers being shared with customers?
- Are there any discounts or loyalty programs that competitors offer?
- Do our competitors offer custom pricing packages?
- Do our competitors have a referral program?
- What are our competitor's refund policies?
- How do customers perceive the value of our offerings compared to competitors?
Sales and Distribution
- What distribution channels do competitors utilize to reach customers?
- Are there any new partnerships or alliances formed by competitors?
- How do our sales approach and customer service compare to competitors?
- Do our competitors offer demos or free trials for potential customers?
- If so, how do the details of this offer compare against our own?
- Are there any exclusive agreements or contracts that competitors have secured?
- What is the customer experience like when purchasing products or services from our competitors?
- Are there any unique sales or distribution strategies employed by our competitors?
- How effective are our competitors' sales and distribution strategies in terms of revenue and customer acquisition?
- Are there any potential gaps or unmet needs in the market that our competitors are addressing through their sales and distribution strategies?
Research and Development:
- Are there any research and development initiatives by competitors?
- Have competitors filed for any patents or trademarks recently?
- Are there any technological advancements or innovations introduced by competitors?
- How does our investment in research and development compare to competitors?
- Have competitors recently received any R&D grants?
- If so, who awarded them the grant, and who are past recipients?
- Have they participated in any research collaborations?
- If so, is there publicly available data or news online?
- What are our competitor's criteria for research partnerships?
- Do the competitors have a team dedicated to research and development?
Customer Feedback and Reviews:
- What are customers saying about our competitors' products or services?
- Where do customers offer feedback to your competitor?
- Are there any recurring issues mentioned in customer reviews?
- Could this issue appear with our product or service?
- Are there any unique features highlighted by customers for competitors?
- How does this feature compare to our own?
- How do our customer satisfaction ratings compare to those of competitors?
- What methods do we have to receive customer feedback?
- How are we collecting and responding to customer feedback?
- Are we sharing customer testimonials with our audience?
Company Team:
- What’s the makeup of your competitor's team? (size, location, education, etc.)
- Have any competitors recently started hiring for new roles?
- If so, which teams are they expanding?
- How long have new roles been open?
- How are they hiring for their new roles?
- What do the job descriptions suggest for future growth?
- Can you deduce a particular product or service development?
- Has any significant team member recently left the competitor company?
- If so, how long were they with the competitor and where did they go?
- What past experience do key employees bring to your competitor company?