Posted: on Friday, August 19th, 2011.

When we kick off a campaign at Product2Market, the more information we have about the client in question and the product/service to be targeted, the better. This enables us to manage the campaign as effectively as possible. Products/services, the USP’s, Brand strengths and of course competitor advantages are all factors which are useful to have knowledge of, both for us, the outsourced agent and you the in-house team.

Competitors’ offerings and activity will help you to identify your own Company strengths and weaknesses. In order to decipher the ventures of your competition, consider some of the following factors:

Pricing
Do you know what their pricing is compared to your own? If your service is being offered at a cheaper rate than your main competitor, then knowing this is a huge advantage.

Publicity
Where can you find 2 said competitors online, offline and in the media? If they have articles published, videos posted and press releases then take a look. Merit of their products, services and reputation can be gauged.

First Impressions
First impressions last so why not measure the impressions given-off from your competitor’s site? Is theirs better? A strong online presence is fundamental.

Market Position.

Who is the market leader in your industry vertical? There is always going to be a market leader. Find out what the market leader is doing (if not you) and beat them.

Scope.

What size Enterprise is your Competitor? Knowing their size, number of staff and turnover will allow you to establish where you stand in comparison to them.

Knowledge is not only useful, it is powerful. There are thousands of resources available online and offline which can teach you about what is going on in the Market and which can help you be at your best at all times.

Do you know what is going on in your Industry Vertical? How do you gauge your competitor activity?