What is Competitor Analysis?
Competitor Analysis is the science of understanding your key competitors such that you can improve how you perform against them.
By taking the time to research your competitors, you can improve sales performance year after year. Competitor Analysis done well will ensure that your marketing team can accentuate your competitive differentiators and your sales team can put their best foot forward in every sales engagement.
At its heart, competitive analysis is really all about competitor research and this is where Viewpoint Analysis spends our time. We research your competitors from every angle, the full 360. Whatever you need to know, we go and find it, or we do a general sweep across all of our key areas.
Do you want to know how they are doing as a business and what messages they are delivering? Do you want to know how their teams are set up? Or perhaps you want to know why they are attracting more clients, where they are advertising, and how they are being found more easily on Google?
Our first step is to understand the goal of our client. What do they want to uncover and learn about their competitor or competitors? Once we know the goal, we get started researching and creating the competitor analysis.
We conduct research across a whole host of different facets of the competitor's business and operations, areas that may not be so obvious and some that are.
Website and Social Analysis.
Product and/or Service Analysis.
Strategy and Business Performance.
When did you last look at your competitor's team? How they are structured, and how their 'on-field' team compares to yours when lined up man for man and woman for woman?
We believe that competitor team analysis is vital to really understand your competitors and why they are performing like they are.
Website & Social
We look at your competitors across their online presence. How does their website look? What traffic are they seeing? What keywords are they being found for and which keywords are they trying for?
We look at their Pay Per Click (PPC) advertising and research where they are spending their money and on what adverts. Where are they trying to find new business and where might they be competing against you?
What are their social channels looking like? Do they have Facebook, Twitter, and other social profiles set up? If they do, what are they saying and what are they trying to demonstrate to their prospects?
Product or Service Research
Almost all of our competitor research looks at the product or service and how this compares and contrasts with our client's.
How are they talking about it? What areas do they believe are different and better than their competitors? What terminology are they using? What industry language are they trying to make their own?
We review their products or services. We watch presentations. We learn as much as we can and then play this back to our clients so that they can assess their next moves.
Strategy and Business Performance
Where is the business heading? Our clients need to know how their competitor is approaching the market and where they are expecting to deliver for the shareholders - so we go and find out.
We review the annual reports. We listen to the shareholder presentations. We investigate what the analysts are saying. We dig into the financial reports and find the areas where they are succeeding or struggling.
Are there specific competitor analysis packages that we can choose from?
Each piece of competitor analysis research is bespoke to our client's needs. Once we understand the need, we suggest the areas to look at and how we might go about finding the information.
How many competitors can we include in our research?
We will investigate any number of competitors. Most of our customers have one or two competitors that they wish to understand more about but we can do any number of competitors.
Do the competitors have to be located in the United Kingdom?
No, we will investigate companies anywhere across the globe.
Who conducts the competitor analysis?
Our analysis is always conducted by an experienced sales or sales operations colleague. They know what they are looking at and what competitive intelligence and competitor research is all about - and what our customers expect to see.