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http://www.aqute.com/competitive-analysis/ Competitive analysis of strengths and weaknesses can tell you what your competitors will do next, where they will try to undermine you and where you can hit /nthem back. It is a compass as you navigate the competitive race.
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Title • Aqute gets asked fairly regularly, what are some of the questions that can be answered about a competitor. Particularly by companies new to competitive intelligence, who may not have an existing template. In order to help our clients and prospects, we have put together a few of the questions that could be used to build a competitor profile. • This is a rough guide – the actual questions to be answered will depend on what the client needs, the budget, the type of competitor and other factors. So these should be considered as a starting point. We offer them in the hope that they will be of use to competitive intelligence teams. • This is a tactically-focused guide to colleting raw competitor information. It does not cover assembling such data into recommendations with which the client can take action.
Executive summary • Key strengths and weaknesses of the competitor • Competitor’s strategic priorities • Where is the competitor headed? • What is the competitor’s positioning? • What are the gaps in the competitor’s product range and market targeting? • What are the implications for attacking the competitor?
Strategy • What is the competitor’s strategy and mission? • What are the competitor’s plans for growth? • What are the competitor’s strengths and weaknesses? • Where can the competitor be most easily attacked? • Where is the competitor most likely to go on the offensive?
Structure • How many people does the competitor employ? How are they split across key divisions? • What are the office locations? How many employees work in each? • What is the organizational structure? Which are they key divisions? • Profiles of key executives • To what industry associations does the competitor belong?
Financials • Business model and sources of income • Revenue and profit, by product line • Revenue and profit, by customer segment • Analysis of detailed balance sheet
Customers • Number of customers, by segment/customer type • Key customers and case studies • Customer retention/renewal rates • Customer satisfaction metrics
Investment • What is the competitor’s R&D budget? How is it allocated? • Where is the company innovating? • What does their investment say about coming products? • How much does the competitor invest in co-marketing and other partner spend?
Sales • How does the competitor pitch its products? What is the unique sales proposition? How does the company position itself against competitors? • Why do customers buy the products? What do customers think about the sales pitch? • What is the sales process like? How much is virtual vs physical meetings? How are client references and product demos managed? • Which executives are targeted as buyers or budget owners? Are these the right people? • Against whom does the competitor lose sales? • What is the value of a typical deal? How is that negotiated? How does the competitor sell add-on and premium services?
Go-to-market • What are the company’s go-to-market messages? • How do these messages vary by media? How much does the competitor spend on each media channel? • What are some examples of the creative executions used? • Which go-to-market messages are most effective? How many customers sign up through each channel? • How are go-to-market messages targeted by customer segment? • How does the competitor manage each go-to-market channel? • Does the competitor use marketing partners? Which ones? • What trade shows does the competitor attend?
Pricing • What prices does the competitor charge? • How are products priced e.g. per user or sitewide? • What additional features and services are available, at what price? • When do discounts apply? • What contract details are tied into pricing levels e.g. length of the contract, usage limits • How is ROI evaluated, by the company or by customers? • How important is price in winning pitches?
Product details • What are the key products? How good are they? • What features do they offer? How flexible is the competitor about customization? • How are products targeted to customer segments and divisions within customers? Which industries do the products target? Which industries and customer segments are not targeted? • What gaps are there in the product portfolio? What is the product roadmap? • How are products delivered/implemented e.g. directly or by partner? Are there additional costs? How long does delivery take?
Distributors • Who are the key distributors and partners? • How much business does each partner bring in? • What geographies and verticals do partners cover? • Which way does money flow between the competitor and their partners, and how much? • What are the criteria for being accepted as a partner? How are partners recruited? • What training and support does the competitor offer partners? • What do partners like and dislike about working with the competitor?
International • Organizational structure, by geography. Where are international decisions made? • Revenue and profit, by geography • Number of customers, by geography • Key partners and distributors, by geography; physical presence vs partner representation • Localization of products and services • Go-to-market strategy and marketing spend, by geography
Perception • How does the competitor view its position in the market? • How do customers view the competitor vs other companies? What do customers think about the company’s strengths and weaknesses? • Why do customers buy from this company? • Why did non-converted prospects not buy from this company?
