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How to Conduct a Successful B2B Competitive Analysis

Understanding the strengths and weaknesses of current and potential competitors is important for planning B2B marketing strategies. It is a process of assessing your business in relation to one or more competitors to identify the opportunities or threats, and plan things accordingly. Hereu2019s how you can conduct a successful B2B competitive analysis.

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How to Conduct a Successful B2B Competitive Analysis

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  1. How to Conduct a Successful B2B Competitive Analysis?

  2. Introduction Understanding the strength and weaknesses of current and potential competitors is important for planning b2b marketing strategies. It is a process of assessing your business in relation to one or more competitors to identify the opportunities or threats and plan things accordingly. Here’s how you can conduct a successful b2b competitive analysis.

  3. Identify and Categorize Your Competitors The first step is finding competitors and categorizing them – Direct competitors Businesses that are operating in the same geographical regions and selling products that can easily replace your products. Indirect competitors Businesses that do not sell similar products but can satisfy similar customer needs.

  4. Understand their Marketing and Sales Tactics Gain the information related to the marketing and sales tactics of your competitors. It will help you learn useful ideas, insights for your business to deal with the competitors.

  5. Analyze their Website An in-depth analysis of the competitor’s website helps you understand their marketing efforts. You will also get to know where you are lacking and the improvements you need to make to your website.

  6. Check their Social Media Presence and Strategies Check the social media presence of your competitors on various platforms like Facebook, Instagram, and LinkedIn. Evaluate their engagement rates like posting frequency, the number of followers, likes, comments, or viral content.

  7. Competitive Analysis Playbook The competitive analysis playbook of Company Expert provides the framework to assess your key competitors. You can create your own competitive assessment using this playbook. So, use this playbook to assess your competitor with a systemic approach and conduct a successful b2b competitive analysis.

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