Five Key Questions Your B2B Competitive Analysis Should Answer

Five Key Questions Your B2B Competitive Analysis Should Answer
Michele Linn - Mon Feb 01, 2010 @ 05:54AM
Comments: 61

Five Key Questions Your B2B Competitive Analysis Should Answer"Watch your competitors, but don't follow them."
- Arnold Hax

This weekend I was reading Inbound Marketing by Brian Halligan and Dharmesh Shah (highly recommend!), and this quote from one of their professors at MIT jumped out at me. It quickly summed up my feelings about how B2B organizations should relate to their competitors.

I have a number of clients who are launching new business, and I am helping them draft the content for their websites. As part of this process, I always suggest doing a brief competitive analysis.

Truthfully, I've had mixed feelings about this type of analysis. On one hand, I don't think it is always useful to see what the competition is doing. You don't want to get stuck into thinking, "Well, the competition is doing this, so we should, too." As Hax succulently states, following the competition is a not a good idea.

Also, if you don't know specifically what you are looking for it is easy to start collecting data and run into "analysis paralysis." I can collect all sorts of data, but unless I frame it in a way that is useful for my client, it will be worthless.

Of course, there is an upside to competitive analysis as well: you need to have an understanding of what is going on in your market so you know what your prospects are experiencing. To stay focused, I concentrate on five key questions when reviewing the competition.

Is your product or service similar to what others are offering?
This may seem like an obvious question, but I have found that many new (or existing businesses) don't take the time to understand who is doing what they do. When I recently asked one client why his business was different, he responded, "We are the only ones doing this." Not surprisingly, when I started to search, I found companies who were doing the same thing. Competition certainly isn't bad (and in many cases it is favorable), but you need to understand who your primary competitors are so you can monitor them.

What makes you different?
If there were one question a competitive analysis should answer, this is it. You need t be able to take the data you collect to understand how exactly you are different. Prospects are looking for this kind of information, and you want to tell them instead of having them guess (or find out from your competition). If you can't answer this, how can you convince a prospect to do business with you?

When prospects search for information in your category, what are they finding?
I find the actual process of searching for competitors to be insightful as it gives me a window into what prospects are going through. Is it easy to find information on the competition? Are there certain keywords that bring up the competition? Are others standing out because of social media?

Are there any types of content that you need to have?
When looking at competitors, I often find that most have some type of content, be it a newsletter, a blog or something like that. While I don't think you should copy what the competition is doing, it does help to know if there is some kind of content that is necessary. For instance, all of your competitors offer a demo, it may make sense that you do the same.

What types of content can you offer that no one else is?
On the other hand, the thing I enjoy looking for is content that the competition isn't offering. As an example, when I was doing a competitive analysis for one of my clients, none of its competitors had an eBook on why this type of product is needed. Creating an eBook would be a great opportunity for them to stand out (i.e. if everyone is doing this, it's easy to get lost).

If you are looking for ideas on how to find the answers to these questions, check out the posts below.

Is this the kind of information you look for when doing a competitive analysis? What other questions do you try to answer?

Related posts:

About the author: Michele Linn is a B2B content strategist who helps companies create content and think through how their B2B prospects will consume it (from registration to promotion). You can follow her on Twitter or read more of her posts on Savvy B2B.

Comments: 61

Comments

51. siva   |   Wed Sep 23, 2015 @ 02:11AM
52. urlaub toskana ferienhaus  |  my website   |   Thu Sep 24, 2015 @ 04:31AM

It is important to recycle materials. So that we can keep our earth pretty happy and eco friendly! Some people do not expect this in their newly brought ones. The truth is that, these items will be as good as

53. bhgu   |   Fri Jan 08, 2016 @ 02:11AM

f information I am looking for and I love to post a comment that "The content of your post is awesome" Discount vapor code
http://discountvaporcode.com
Vape mods
http://discountvaporcode.com/vape-mods/
Vape pen
http://discountvaporcode.com/vape-pen/
Vape eliquid
http://discountvaporcode.com/eliquid/

54. klester   |   Thu May 19, 2016 @ 02:27AM

I like your post and all you share with us is up to date and quite infor

Survival Life Deals
http://survivallifedeals.com
Survive the end days
http://survivallifedeals.com/product/survive-the-end-days/
Surviving the final bubble
http://survivallifedeals.com/product/surviving-the-final-bubble/
Survival Md
http://survivallifedeals.com/product/survival-md/
Family Survival System
http://survivallifedeals.com/product/family-survival-system/

55. Paul  |  my website   |   Mon Nov 07, 2016 @ 04:00AM

I think it depends where you source your competitor list from. Clients often have a habit of defining people they know rather than the people who'll come up in a search for terms they rank for. They often dismiss people who they know have a poor reputation without considering the fact that a potential client won't be aware of that.

56. Paul   |   Mon Nov 07, 2016 @ 04:04AM

In addition there's often more than one solution to a problem so it's important to include in the list of competitors those offering a different tactic to solving the same problem.

<a href="http://www.axongarside.com/">http://www.axongarside.com/</a>

57. Paul   |   Mon Nov 07, 2016 @ 04:06AM

Plus there's often more than one solution to a problem so it's important to include in the list of competitors those offering a different tactic to solving the same problem. People often search by pain, not solution.

http://www.axongarside.com/

58. sdfds   |   Fri Sep 08, 2017 @ 10:40PM

http://beautyglowup.com/ Beauty Tips
http://beautyglowup.com/category/male-enhancement-supplements/ Male Enhancement Supplements
http://beautyglowup.com/category/weight-loss-supplements/ Weight Loss Supplements
http://beautyglowup.com/category/skin-care-products/ Skin Care Products
http://beautyglowup.com/category/hair-care-products/ Hair Care Products

http://beautyglowup.com/detox-and-cleanse-reviews/ Detox and Clease Reviews
http://beautyglowup.com/alpha-prime-elite-the-best-male-enhancement/ Alpha Prime Elite
http://beautyglowup.com/garcinia-pure-pro-weight-loss-that-works/ Garcinia Pure Pro
http://beautyglowup.com/pure-asian-garcinia/ Pure Asian Garcinia
http://beautyglowup.com/buy-garcinia-cambogia Buy Garcinia Cambogia
http://beautyglowup.com/skin-rejuvenator-anti-aging-device/ Skin Rejuvenator
http://beautyglowup.com/hair-loss-treatment-for-men/ Hair Loss Treatment For Men
https://sites.google.com/view/garciniapurepro11

https://javed786.com/muscle-building-foods-gh-advanced-plus/
http://agsdevelopers.com/ Web Development Company
http://agsdevelopers.com/shopify-development/ Shopify Development Services
http://agsdevelopers.com/volusion-development/ Volusion Development Services
http://agsdevelopers.com/magento-development/ Magento Development Services
http://agsdevelopers.com/bigcommerce-development/ BigCommerce Development Services
http://agsdevelopers.com/wordpress-development/ WordPress Development Services
http://www.worldcolumns.com Urdu Columns
http://www.worldcolumns.com/columns/javed-chaudhry/ Javed Chaudhry Columns
http://www.worldcolumns.com/columns/hassan-nisar/ Hassan Nisar Columns
http://www.worldcolumns.com/columns/orya-maqbool-jan/ Orya Maqbool Jan Columns
http://www.worldcolumns.com/columns/rauf-klasra/ Rauf Klasra Columns
http://www.worldcolumns.com/columns/nazeer-naji/ Nazeer Naji Columns
http://www.worldcolumns.com/columns/ayaz-amir/ Ayaz Amir Columns
http://www.worldcolumns.com/columns/haroon-ur-rasheed/ Haroon Rasheed Columns
http://www.worldcolumns.com/columns/saadullah-jan-barq/ Saadullah Jan Barq Columns

59. Maitri Shah  |  my website   |   Mon Oct 02, 2017 @ 04:02AM
60. Jimmy   |   Mon Oct 23, 2017 @ 01:25AM

Mobdro includes 12 food selections that you could pick easily, https://imobdroapp.com/apps-like-mobdro the internet by surfing to mobdro.net. Just click the download button.

61. finch   |   Thu Nov 16, 2017 @ 03:59AM

that you wouldn't intend to lose.With an application like Google Play Solutions https://playstoreguide.com/play-store-on-your-chromebook/ Particularly if you've attempted updating to the incorrect latest.

Previous 1 2 Next

Post a Comment




powered by Doodlekit™ Free Website Builder