The value of a competitor analysis
However you view your competitors, it’s important to have an understanding of their strengths and weaknesses. Going undercover to gain some inside knowledge will give you great insight into your competition. This knowledge will help to shape your own services and gain a more secure market position. The quickest and most reliable snapshot is to call competitors, nothing can then be rehearsed, it is what it is at the time that you call.
Who are your competitors?
So who are your competitors? By entering your keyword search terms into Google you will soon see who your competition actually are – select companies on page 1 on Google in the organic searches and not in the paid ads list. Choose 5 or 6 companies that you feel are ‘like for like’ in comparison to you, and add 2 or 3 companies who you consider to be market leaders. It’s always good to see what the main players are up to!
What do you want to know?
Then decide what exactly you want to know about them. How do you measure yourselves? Select the same measurements to grade your competitors, eg if you have a service standard to answer your calls in 3 rings, how long do your competitors take to answer the phone? Make it specific and measurable.
Select 6 things that you want to know about them. It’s best not to go for a lengthy call or approach, just make it targeted.
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