The competitive landscape of your business is constantly evolving. With new players entering your space (and market?) every day, conducting competitive analysis on a regular basis should be key part of the overall strategic plan for all businesses.
Each time a new company enters your space, you can be sure that they are doing their homework and conducting competitive analysis on you. Therefore, having a successful business today doesn’t guarantee success tomorrow if you don’t keep a close eye on the competition.
A competitive analysis is a way to examine your competitors’ strengths and weaknesses, such as pricing, marketing tactics, sales techniques, target audience and other differentiators. In addition, a competitive analysis can help you determine what your company is doing well, in addition to identifying areas for improvement.
CSR is an industry leader in competitive analysis. We have the teams and resources in place to conduct both in-person and phone-based research.
For example, when calling into customer service departments, our Members will record such things as:
For in-person research, our members will record things such as:
The importance of competitive analysis and the impact it can have on your company is hard to overstate. A professionally conducted competitive analysis can provide you with the critical insights and strategic advantage to grow your business and capture more of the market share.
With any competitive research, the approach must be well-planned, the execution methodical and the sample size large enough for the results to be meaningful. CSR has extensive experience conducting competitive research for countless businesses, including many Fortune 500 companies. We have teams in place to properly conduct the research and accurately report their findings. In addition, our experts will help you translate all of that intelligence to identify the critical insights that represent real opportunities for your business.
Reach out to CSR today to learn more!